Podcast
Questions and Answers
What is the main goal of retailers when it comes to business?
What is the main goal of retailers when it comes to business?
What type of retail location provides a high amount of foot traffic?
What type of retail location provides a high amount of foot traffic?
What is one of the demographic factors considered in evaluating a retail site location?
What is one of the demographic factors considered in evaluating a retail site location?
What is an important issue to consider when evaluating a retail site location?
What is an important issue to consider when evaluating a retail site location?
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What is a characteristic of a retail site considered in its evaluation?
What is a characteristic of a retail site considered in its evaluation?
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How are commercial leases usually negotiated?
How are commercial leases usually negotiated?
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What is a micro factor affecting retail location decisions?
What is a micro factor affecting retail location decisions?
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Why is evaluating a retail site location important?
Why is evaluating a retail site location important?
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Study Notes
Retail Location
- A retail location is a space leased for selling goods to consumers, with the primary goal of selling merchandise.
Types of Retail Locations
- Frequented spots, such as malls, attract foot traffic and provide opportunities for sales.
- Commercial buildings, office spaces, and small office/home offices can also be retail locations.
Micro Factors Affecting Retail Location Decisions
- Demographic factors, including age, family size, education level, and income, influence retail location decisions.
- Economic factors, subculture, demand, market potential, sales potential, and retail saturation also impact location decisions.
- Infrastructure is another crucial micro factor to consider.
Evaluating Site Location
- Choosing a site is a critical decision, and local demographics, including median household income, average age, family size, and education level, must be considered.
Major Issues in Evaluating Location
- Connectivity and ease of traffic flow are essential for a retail location.
- Parking facilities, cost-effectiveness, and the presence of competitors are also major issues to consider.
Site Characteristics
- Physical characteristics of a site, such as area, shape, soil and ground conditions, typography, and access, must be evaluated.
Rent and Leases
- Commercial leases are typically negotiated on a per-square-meter basis.
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Description
Learn about the importance of retail site location, including factors such as sales floor space, parking, and image. Identify the types of retail locations and their characteristics.
