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When asked What are the three most important things in retailing? many retailers respond, Location , location, location! Store location is one of the most
When asked What are the three most important things in retailing? many retailers respond, Location location, location! Store location is one of the most important decisions a retailer can make. First, location is typically one of the most influential considerations in a customers storechoice decision. Secondly, location decisions also have strategic importance because they can be used to develop a sustainable competitive advantage. Finally, location decisions are risky because of the substantial investment and longterm commitment.
Many types of locations are available for retail stores, each type with its own strengths and weaknesses. Match the characteristic to the retail location.
Central Business District Strip Shopping Center Merchandise Kiosk Store within a Store Freestanding Sites Outlet Center Shopping Mall Lifestyle Center PopUp
Match each of the options above to the items below.
Convenient for customers, high vehicular traffic, high visibility to customers
No answer
High pedestrian traffic, convenient during business hours
No answer
Offer customers convenient locations, easy parking, relatively low occupancy costs, limited trade area
No answer
Enclosed, climatecontrolled, attract many shoppers, large trade area, inexpensive form of entertainment
No answer
Resemble main streets, open air configuration, attractive to specialty retailers, attractive outdoor ambience
No answer
Contain mostly manufacturers and retailers outlet stores, lower rent than shopping malls
No answer
Located in malls, airports, colleges, or offices; look like small carts or stores, easily moved
No answer
Temporary location, creates a sense of excitement for a limited amount of time
No answer
An agreement where space is leased to another brand or retailer within a store
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