The key to opening up a successful business is to choose the right location. For example, you wouldn’t open a luxury brand like Moschino in your local high street or a Primark in Bicester villages. If the location is not chosen wisely than it could affect the sales, profit, and footfall of the store and that is not what you want. Two great locations that show how location is key for certain business to successes is Carnaby street and Oxford street.
Firstly, Carnaby street has a small population, compared to Oxford street which has a bigger population this means that the size of the street is larger, therefore, they will have more footfall compared to Carnaby street. Both locations, target are middle and upper-class customers, so they have money to be able to spend in stores. However, Oxford street has a wide range of target customers than Carnaby street as they also have affordable high street brands like New Look. But the type of customers that actually buy are very similar to their target customer; in both of the locations a lot of tourists come and buy as it is a prime location for shoppers. Nevertheless, Carnaby street has people of different ages coming to explore the rich history of the place and also to experience the chilled shopping experiences, but Oxford street doesn’t have many elderly customers as it can be dangerous for them to be in a busy and crowded area.
The biggest advantages to both of these locations are the transportation links; they both have accessible public transport which makes it easier to travel within and out of the location. On the other side, the disadvantages of both of these locations are that there are a lot of competition offered by other shopping centers nearby.
Both locations provide a different style of brands which makes them unique in their own way. Carnaby street is a small location which mainly consists of the smaller store meaning that it's more affordable for brands to relocate here. Also, Carnaby street is known for their cool, edgy and hippy stores such as Monki, Puma, Just, Size etc.… However, Oxford street is known for their massive location with nameless designer brands Zara, House of Fraser, Mango,