Another element which is considered in choosing a location is travel links, accessibility and visibility. These points are quite straight forward; if your shop is tucked away and hidden right at the bottom of an unknown street, then you are much less likely to draw in customers, especially if you are a new and unknown brand. Now, if your shop is visible and easy to get to then you can’t go wrong.
Transportation links are vital. If you think about it, people often only use public transport when going shopping in-town, especially in places like Oxford Circus. Why? Well, let’s think back to the few painful times where we’ve sat in the backseat of the car, next to our heaps of shopping bags, stuck in traffic in the Westfield carpark for two hours… now you understand, right? People need to find it easy to get to your store, then they won’t think twice. No train? No gain!
Another factor to consider is your competition and neighbouring stores. Putting a Topshop in between a B&Q and a Wicks would just be plain wrong. However, putting a Topshop in between a New Look and a Zara would be perfect!
Choosing a location which is near your competitors is essential because firstly, because you all have a similar target audience, you know for sure that they will come into your store; let’s admit, none of us have been to Oxford Street, walked into New Look and then gone back home instantly; we love a good browse into other similar stores that we love.
Secondly, if Zara is slacking and doesn’t have the newest cut-out crop top then surely H&M will have it… nope? Well then Miss Selfridge will!
The cost of the store location is also a significant factor to consider. A new and small cupcake business may not be able to afford a store near Oxford Circus but they might be able to afford a kiosk in a shopping mall, or a spot on a local high street.
History and knowledge of a location will also play a role in improving sales. If a street, area or centre is well known and even has history behind it then it will draw people in from all over the country and may even be/become a popular tourist area. For example, Brompton Road in Knightsbridge holds the famous Harrods as well as so many other retailers from high-end to high street. It is a known attraction for tourists and people from around the whole of England.
No train?
No gain!