Location of
Retailerss
When a retailer decides they want to open a store, they have 3 choices when it comes to the location:
INTOWN: This is going to be a busy area like a city centre. This is good for multiple stores such as Topshop or Primark when situating on a high street. Many shopping centres are also located in town, for example Castle Mall in Norwich. Advantages of this include lots of traffic to the store however there will be lots of competition amoungst thr area.
OUT OF TOWN : This is where a consumer will travel away from the city to get to the intended retail store. The majority of the retailers will choose to be OUT OF TOWN becuase of the lower rent costs meaning hey can expand to have bigger shop floor. Things like Retail Parks and Shopping Centres are extremely frquent. For example Westfield, London. The issue with OUT OF TOWN retailers is that the store has to be so desirable it makes the consumer travel out of their way to get to it. This type of location is often popular with older audiences as they dont want to be
getting involved with the everyday hustle and bustle of a city centre.
LOCAL: This is convience stores, often intended for the purchase of low value sales, but no competition within the area. People will visit the store local to them if they only need some milk, however would travel the further distance to out of town to go for a full food shop. This is because the local store will not have the variety that these bigger ones do and are often independant stores so the more profit it recieves is more income for that family.