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Effective Retail Site Selection: Understanding Location Types and Strategic Considerations

This chapter delves into the critical process of retail site selection, exploring various location types such as isolated stores, unplanned business districts, and planned shopping centers. It emphasizes essential steps in choosing a general retail location, including investigating trading areas, determining desirable types, and evaluating specific store sites. The text discusses the advantages and disadvantages of different locations, highlighting factors like competition, rent, customer accessibility, and parking requirements. Overall, this comprehensive guide aims to equip retailers with the knowledge to make informed location choices.

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Effective Retail Site Selection: Understanding Location Types and Strategic Considerations

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  1. Chapter 10 RETAIL MANAGEMENT: A STRATEGIC APPROACH, 10th Edition Site Selection BERMAN EVANS

  2. To thoroughly examine the types of locations available to a retailer: isolated store, unplanned business district, and planned shopping center To note the decisions necessary in choosing a general retail location To describe the concept of one-hundred percent location Chapter Objectives

  3. To discuss several criteria for evaluating general retail locations and the specific sites within them To contrast alternative terms of occupancy Chapter Objectives (cont.)

  4. Step 1: investigate alternative trading areas (Chapter 9) Step 2: determine what type of location is desirable Step 3: select the general location Step 4: evaluate alternative specific store sites Chapter 10 discusses steps 2-4 Overview

  5. Three Types of Locations Isolated Store: Freestanding retail outlet Planned Shopping Center Unplanned Business District

  6. Advantages No competition Low rental costs Flexibility Good for convenience stores Better visibility Adaptable facilities Easy parking Disadvantages Difficulty attracting customers Travel distance Lack of variety for customers High advertising expenses No cost sharing Restrictive zoning laws Isolated Stores

  7. Isolated Stores • Large-store formats • Wal-Mart • Costco • Convenience stores • 7-Eleven

  8. Figure 10-1: Site Selection and Target

  9. Unplanned Business Districts Secondary Business District Central Business District Neighborhood Business District String

  10. Figure 10-2: A Revitalized Central Business District

  11. Figure 10-3: Unplanned Business Districts and Isolated Locations

  12. Advantages Well-rounded assortments Strong suburban population One-stop, family shopping Cost sharing Transportation access Pedestrian traffic Disadvantages Limited flexibility Higher rent Restricted offerings Competition Requirements for association memberships Too many malls Domination by anchor stores Planned Shopping Centers

  13. Figure 10-4: Eaton Centre, Toronto

  14. Table 10-1a: Characteristics of Centers

  15. Table 10-1b: Characteristics of Centers

  16. Table 10-1c: Characteristics of Centers

  17. Figure 10-5: Festival Walk, Hong Kong

  18. Figure 10-7: Location/Site Evaluation Checklist

  19. The most crucial measures of a location’s and site’s value are the number and type of people passing by. Pedestrian Traffic

  20. Number and quality of spots Distance of spots from stores Availability of employee parking Price to charge customers for parking Parking Considerations

  21. Shopping centers = 4-5 spaces per 1000 square feet of gross floor space Supermarkets = 10-15 spaces per 1000 square feet of gross floor space Furniture stores = 3-4 spaces per 1000 square feet of gross floor space How Many Parking Spaces?

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