Location of Retailers
A retailer has to put alot
of consideration behind the
location of their stores. The
shop needs to be accessable
to their target market to
maximise profits. It also needs to
be easy to reach with thought
about parking to make the
shopping experience as a whole
better. Factors that affect the
location of a retailer are:
TARGET CONSUMER - the store has to
be easily accessable for their target
consumer to maximise their sales and
profits.
POPULATION OF THE AREA - the area in
which a retailer is located is key as a retailer
needs to have a reasonalby high population
in order to have a high turnover.
TYPE OF CUSTOMER - their type of customer
be shown in the location of their stores. A store
with a premium pricing range would not be
located in your local highstreet. It would most likely
be located in central London or out-of-town
shopping malls.
DISTANCE TO TRAVEL - the location of the retailer
is key to maximise profits. The distance cannot be
be too far for their target consumer to travel.
TRANSPORT LINKS - a retailer needs to be
located with various transport links meaning
customers can reach them via, train, bus,
tube, tram ect.
CAR LINKS - when considering the location
the retailer will think about their target
consumer and then how they will travel to the
store. If so by car, they will need to ensure
that their is parking available within a suitable
radiance.
COMPETITION FROM OTHER RETAILERS -
brands have to be thoughtful when considering
their location. The placement of their store has
to be suitable to maximise their profits. They
will look at competative brands and their
positioning so they are not too closely located.
SUITABLITY OF SITE - the site in which the
retailer is located has to be suitable for its
target consumer. Stores have to consider
social, and ethical factors as it has to fufil
the customers needs and expectations.
RENT COSTS - retailers have to be sensible
when selecting their location. A small
independant retailer would not have a store
Oxford Street as rent costs would be to high
for them to efficently run their buisness.
FOOTFALL - to maximise their turnover a
retailer will make sure they are located in a
place with a big population of their target
consumer.
GUIDE TO RETAIL