Presentation on theme: "Retail Locations CHAPTER 7."— Presentation transcript: 1 Retail Locations CHAPTER 7 Show
2 Retailing Strategy Retail Market Strategy Financial Strategy
3 Questions What types of locations are available to retailers? 4 What Are the Three Most Important Things in Retailing?
5 Facts on Retail Space Currently the U. S. has 20 square feet of retail space in shopping centers for every person. The highest country
in the world The second-highest country: Sweden – 3.1 square feet per person 6 Why is Store Location Important for a Retailer? 7 Types of Locations Free
Standing Sites City or Town Locations 8 Selecting a particular location
type
9 Tradeoff Between Locations 10
Types of Locations 11 Unplanned Retail Locations
12 City or Town Locations Gentrification is bringing population back to the cities. Advantage to Retailers: Affluence returned
Young professionals Returned empty-nesters Incentives to move provided by cities Jobs! Low occupancy costs High pedestrian traffic The McGraw-Hill Companies, Inc./Andrew Resek, photographer 13 Central Business
District (CBD)
14 Main Streets vs. CBDs Occupancy costs lower than CBDs 15 Inner city customer wants branded merchandise 16 Shopping Centers Shopping Center Management Controls: Parking Security 17 Types of Shopping Centers 18 Neighborhood and Community Centers 19 Power Centers Shopping centers that consist primarily of collections of big-box retail stores such as discount stores (Target),
off-price stores (Marshall’s), warehouse clubs (Costco), and category specialists (Lowe’s, Best Buy, Dick’s) Open air set up Free-standing anchors Limited small specialty stores Many located near enclosed malls Low occupancy costs Convenient Modest vehicular and pedestrian traffic Large trade areas PhotoLink/Getty Images
20 Shopping Malls Regional shopping malls (less than 1 million square feet) Super regional malls (more
than 1 million square feet) The South China Mall in Dongguan, China 21 The Largest Shopping Malls
22 Advantages and Disadvantages of Shopping Malls
23 Lifestyle Centers Usually located in affluent residential neighborhoods Includes 50K sq. ft. of upscale
chain specialty stores Open-air configuration Design ambience and amenities Upscale stores Restaurants and often a cinema or other entertainment Small department store format may be there 24 Mixed Use Developments
(MXDs)
25 Outlet Centers These shopping centers contain mostly manufacturers and retail outlet stores Courtesy of Beall’s, Inc.
26 Theme/Festival Centers
27 Larger, Multi-format Developments: Omnicenters 28 Other Location Opportunities
29 Alternative Locations Pop-Up Stores and Other Temporary Locations 30 Alternative Locations Store within a Store 31 Alternative Locations Merchandise Kiosks 32 Alternative Locations Airports 33 Matching Location to Retail Strategy
34 Shopping Behavior of Consumers in Retailer’s Target Market
35 Convenience Shopping Minimize the customer’s effort to get the product or service by
locating store close to where customers are located The McGraw-Hill Companies, Inc./Andrew Resek, photographer
36 Comparison Shopping Customers have a good idea of what type of product
they want, but don’t have a strong preference for brand, model or retailer. Competing retailers locate Near one another Typical for furniture, appliances, apparel, consumer electronics, hand tools and cameras. Ryan McVay/Getty Images 37 Specialty Shopping Customers know what they want Designer labels 38 LEGAL CONSIDERATIONS Environmental Issues
39 LEGAL CONSIDERATIONS Other Legal Issues What is a shopping center quizlet?shopping center. a group of retail and other commercial establishments that is planned, developed, owned, and managed as a single property.
What is a factory outlet quizlet?factory outlet stores. carry a limited selection from a single manufacturer. Examples include Gap Outlet and Coach Outlet. supermarkets. carry a large selection of food items and a limited selection of general merchandises.
Are enclosed climate controlled lighted shopping centers with retail stores on one or both sides of an enclosed walkway?10. Enclosed Shopping Malls Shopping malls are enclosed, climate-controlled, lighted shopping centers with retail stores on one or both sides of an enclosed walkway. Parking is usually provided around the perimeter of the mall.
What are the three common ways that retail outlets can be classified?Retail outlets can be classified by their form of ownership, level of service, and type of merchandise line.
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