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9 Cards in this Set
- Front
- Back
Economic Conditions |
Examines an area's population growth and employment growth. |
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Competition |
Saturated trade are Understored trade area overstored area |
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Strategic Fit |
Consumers that are in the retailers target market Attracted to the retailers offerings and interested in patronizing its stores Right Demographic characteristics Right Lifestyle profiles |
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Operating Costs |
Can vary due to: Proximity to distribution support Local, Provincial legal and regulatory environment |
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Number of Stores in an Area |
Best location in each CMA ( Census Metropolitan Area) Larger CMA’s can support more stores Trade off between:Lower operating costs Cannibalization |
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Evaluating a Site for Locating a Retail Store |
Retailers consider 3 factors: Characteristics of the site. Characteristics of the trading area for a store at this site. Estimated potential sales that can be generated by a store at this site. |
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Factors Affecting the Attractiveness of a Site |
Traffic flow & Accessibility Road pattern and condition Natural and artificial barriers Visibility Parking – amount & quality Congestion Ingress/egress Adjacent Tenants Cumulative attraction |
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Trade Area Characteristics |
Primary Zone - 60 to 65 percent of its customers/drive time 5 minutes] Secondary Zone - 20 percent of a store’s sales/drive time 10 minutes Tertiary Zone - customers who occasionally shop at the store or shopping centre/drive time 20 minutes |
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Customer Spotting |
Purpose: to spot, or locate, the residences of customers for a store or shopping centre. How to obtain data: credit card or cheques customer loyalty programs manually as part of the checkout process automobile license plates |