Comparing Retailers
Retailer put a lot of thought into the location of their stores before they open them. They have to think about who their target audiance is and where these people are most likely to shop. Another factor the companys have to consider is the size of their stores and where their store would fit most appropriately.
Location is so important to the shop and its success. Choice of location inlude in town, out of town, retail park, local, shopping mall or high street. This choice of location all depnds on the store's target customer, the population of the area, the avalible transport in the area , the facilites of the loacation and the rent of the location. This varies from street to street, for example the rent of a shop will be cheaper out of town than in town or on a high street, this is becasue these locations are likely to be busier as they are more popular locations. These locations are more likely to have better transport such as bus and train routes.
Locations also normally have similar kinds of shops, as these shops will all have a simialr target audiance. For example New Bond Street is targeted at a high end target audience and attracts similar types of customers. Chanel, Louis Vitton, Fenwick, Mulberry, Ralph Lauren and Jimmy Choo all have stores along New Bond Street. Although there isn't easy transport to this location, this fits the target customer as it isn't likely the customers at these stores will be getting the bus or train it's more likely they would be driven. The rent of these stores will be expensive but most of these stores are flagship stores so attract customers from all around the world. The prices of the proucts being sold will also help contribute.