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 customer$$s store$-$choice 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 long$-$term 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 Pop$-$Up

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, climate$-$controlled, 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