Retailers are located in many areas dependent on different factpors. firstly retailers can be categorised into where they are loctaed and this can generally tell you what type of store this is. they can either be out of town which are retil parks, then in town like shopping malls and high street with retailers being local stores.
When retailers have stores they will look at many factors to determine whether or not a a location is suitable for them, having a store is very costly so it is vital that they consider the factors. Firstly a retailer will want know where their target market are, where do they shop? It's important to situate yourself close to your customers, but this may also mean that your close to your competitors, dependent on what type of retailer you are you may find yourself surrounded by competitors, you'll have to work hard as a store to make customers choose you over another. The population of the area may be be of importance to stores, how many people are in the area, high street stores are most likely to be located in highly populated areas where as luxury stores tend to be in quieter areas.
How close a store is to transport is a factor that needs to be taken into account, if a store is easily accessible then more customer are likely to visit it, so if there are transport link near by then the location will be more suitable. One of the biggest costs of is the rent, retailers will have to forecast what their profits are going to be and see if they are a key to cover the cost of rent otherwise it is not worth them opening a store. Back to the amount of people in the area, retailers are able to see the footfall of a particular location, this is the amount of people visiting every year, the higher the footfall the better the location.
These are the factors retailers will look at for the suitable location of a store, next we will be looking at two different locations and why stores have chosen those locations.
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An Introduction to the Location of Retailers
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