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9 Cards in this Set

  • Front
  • Back

Economic Conditions

Examines an area's population growth and employment growth.

Competition

Saturated trade are




Understored trade area




overstored area

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

Operating Costs

Can vary due to:




Proximity to distribution support




Local, Provincial legal and regulatory environment

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

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.

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

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

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