Location,
LOCATION
SIMILARITIES: Both streets for most people living outside or in London will have to travel at least 10-30 mins or more on the train or bus. Unless people live in apartments near by that is walking distance.
DISTANCE TO TRAVEL:
DIFFERENCES: If travelling on the train you would have to get off at Oxford street to walk around 3 minutes to Carnaby street where as if you get off at bond street station it is a longer walk to bond street.
SIMILARITIES: Both locations have similar stores surrounding them which means they are both in competition with other retailers, however if they have similar stores surrounding them they're almost guaranteed customers, incase customers didn't find what they were looking for they will try your similar store.
DIFFERENCES: However Bond street stores are very particular, because of the high cost people will want to spend their money on what the specifically wanted instead of Carnaby where you would opt for a similar product because it is cheaper. As well as the merchandise for retailers sell specific merchandise that people will go to the specific store to find. This is different to a street like Carnaby street where you would most likely browse around all the stores.
NATURE AND COMPETITION OFFERED BY OTHER SIMILAR RETAILS AROUND:
SUITABILITY OF SIZE:
SIMILARITIES: For both streets they have a similarity that it would be hard to get a store on the street because of how busy it is and the cost.
DIFFERENCES: Larger stores are more common on Bond street. Carnaby street are known for smaller stores, where bond street, designer stores are larger to hold more stock and have a more spacious layout.
SIMILARITIES: Stores on both streets will be very busy throughout the day up until night time as stores close around 9pm on week days, this is because both streets are in central London.
DIFFERENCES: More customers will visit Carnaby Street stores because tourists are most likely enter the stores whilst visiting the famous street. In bond street although tourists visit the street not many people would enter the stores people may feel out of place or are not interested in buying very expensive items.
FOOTFALL