Factors affecting the location of retail
It might do this by bringing together some existing departments into new purpose built premises.
Retail location theories
During the same period, sales is expected to touch Rs million and number of outlets are likely to grow from to Amenities available in that area v. Secondary Business District are composed of unplanned cluster of store often located on a major intersection of city they a customers from a large part of the city 13 14 3. The store sites you have short listed should be well connected through roads, trains and means of public transport. There are several aspects retailers should consider along these lines. To finance a center, the developer needs major leases from companies with strong credit ratings. Despite this, there is hardly any national level discount chain operating in India. You need to consider factors that impact your marketability and long-term profitability. How many people walk or drive past the location? It might choose a site that has easy access to raw materials. Or we can refer this as unplanned business centers A business district is place of commerce in a city which developed historically as the center of trade and commerce in the city or town. Enterprise Rent-A-Car Locating a business to enhance the customer experience lock.
State of infrastructure water, road and electricity Related Articles:. PricewaterhouseCoopers estimates that Indian retail will get USD by and majority of investment will be directed toward the two most popular retail formats: hyper markets and supermarkets.
Due to regulatory issues no such retailers are allowed to sale their products directly to consumer. Considering our robust policies for retaining and developing workforce, retailers should not worry about shortage of talent pool in the long run.
Competition Entrepreneurs must carefully research market conditions before investing in a new location for their retail outlet.
Identifying the market in which to locate the store.
Factors affecting attractiveness of a site
A big-ticket shopping store usually sells items at a higher price that are bought infrequently by the customer. Is there adequate parking? You know who your customers are, so make sure you find a location near where your customers live, work and shop. Other important factors include a strong local business community, typically with the support of a local or state chamber of commerce, and amenable local tax laws. A business might also want to restructure or modernise its operations. Fabmall online store offers about three million stock keeping units and attracts about 10, visitors per day and on average ships over 20, orders per month. Article Table of Contents Skip to section Expand. Even some Kirana stores go one step ahead to define their target segment by residents of the nearest society or colony. There are several aspects retailers should consider along these lines. Market Identification: The first step in arriving at a decision on retail location is to identify the market attractiveness to a retailer. There may be limits on the size and imagery used in signs that advertise your business. Further, under intense competitive area, newcomer must come with unique merchandise, wide merchandise assortment and high level customer service. Target Market The ideal location is also one that is close to your target market. As we all know that India has been a nation of Dukandars, having —approximately 12 million retailers.
A specialty retail store located six miles out of town in a free-standing building will need more marketing than a shopping store located in a mall. Category Killer is a kind of discount specialty store that offers less variety but deep assortment of merchandise.
Sam Walton and Jack Welch share a same line of thinking that consumer is the source of competitive advantage and one of leading UK based retailers Tesco Inc.
Store location planning
Others offer selected items at higher prices. Given the situation we can say that Indian Retailing is at boom. DLF spokerperson Kajal Aijaz said the biggest now is Mall of America in Minneapolis which has a covered area of 38 lakh sq ft, followed by a mall in Shanghai which is 30 lakh sq ft. Despite this, there is hardly any national level discount chain operating in India. Retailers in this segment will do well to locate their stores far away from their rivals. Obviously retailing is in our blood —either as a shopkeeper or as a shopper. A retail store can also be located as a part of a business district. This is important that retail needs to understand the market well. Unlike the western markets where retailers largely depend on private labels to offer price advantage, here the concept of private label is very early stage. It is difficult to create sales projections for a new business. There are several ratios that are used to determine the provision for parking lot. Highway Stores :Ebony store in Ludhiana. Supermarket Unlike western countries where supermarkets are prominently visible, in our country this is lacking.
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