Location, Location, Site Selection!

I enjoyed reading chapter 8 from our Retailing Management book. Chapter 8 is about the site selection for a retailer. I now see how complicated it can be to choose a site for a business. There are several things that retailers consider when assessing the attractiveness of a particular region, market, or trade area, and I will only discuss some.

For one thing, they want to know about the people living in the area. For example, what are their lifestyles, or how expensive are their homes?
Second, is the area growing, and does it have an ideal business climate?

A third and very important part to consider is the amount of competition in the area. A safe strategy is to be in an area with little competition. The only times that retailers should locate in an area with heavy competition is if they believe that their retailing format is better than their competitor’s.

Another factor that must be considered is the location’s accessibility. It needs to be easy for customers to come to the location. Several factors are taken into consideration such as road pattern, road condition, and natural and artificial barriers. Also, visibility, parking, congestion, and ingress/egress are all important as well.

So now I will consider all of these factors when I am shopping at the River Town Crossings Mall, or driving past some of my favorite retailers in Holland.