With the advent of new retail formats in India such as planned shopping centers and malls, emergence of free-standing department stores, hypermarkets, etc., and further development of traditional business districts and other unplanned shopping locations, a retailer is presented with a wider choice of locations. Consideration of all the options keeping in view the product mix, customer profile and overall business model presents an enormous challenge. A retailer has to consider the following factors while selecting a site:
- Kind of products sold
- Cost factor
- Competitor’s location
- Ease of traffic flow and accessibility
- Parking and major thoroughfares
- Market trends
- Visibility
1. Kind of Products Sold
For stores dealing in convenience goods, the quantity of traffic is most important.… Read the rest