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After a (1) retail investigates alternative trading areas:
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(2) determines what type of location is desirable
(3) selects the general location (4) evaluates alternative specific store sits |
(2) determines what type of location is desirable?
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-isolated store
-unplanned business district -planned shopping center |
Isolated store
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A freestanding retail outlet located on either a highway or a street- no adjacent retailers with which this type of store shares traffic
ex: large-store formats (Wal-mart) & convenience-oriented retailers (7-eleven) -good for category killer |
Unplanned business district:
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A type of retail location where two or ore stores situate together (or in close proximity) in such a way that the total arrangement or mix of a store is not due to long-range planning
-central business district -secondary business district -neighborhood business district -string |
Central business district (CBD):
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The hub of retailing in a city; aka- downtown
-great density of office buildings & retail stores -both vehicular & pedestrian traffic very high -no more than a square mile, w/ greatest concentration of cultural & entertainment facilities surrounding it |
Secondary business district (SBD):
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An unplanned shopping area in a city or town that is usually bounded by the intersection of two major streets
-smaller stores, less width & depth of merchandise assortment, smaller trading areas & it sells a higher proportion of convenience-oriented items |
Neighborhood business district (NBD):
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An unplanned shopping areas that appeals to the convenience shopping & has several service stores of a single residential area (ex: barber shop, drycleaning, resteraunt)
-leading retailer typically supermarket or large drug store |
String:
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An unplanned shopping area comprising a group of retail stores, often with similar or compatible product lines, located along a street or highway
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Planned shopping center
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Consists of a group of architecturally unified commercial establishments on a site that is centrally owned or managed, designed & operated as a unit, based on a balanced tendency & accompanied by parking facilities
-3 types: regional, community & neighborhood |
Balanced tendency:
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The stores in a planned shopping center complement each other as to the quality & variety of their product offerings, & the kind & number of stores are linked to overall population needs
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Regional shopping center
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A large, planned shopping facility appealing to a geographically dispersed market
-at least 1 or 2 department stores -50-150 smaller retailers -broad & deep product/service assortment -on average, people travel > 20 mins -about 2,515 centers |
Mega mall
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An enormous planned shopping center with 1 million + square feet of retail space, multiple anchor stores, up to several hundred specialty stores, food courts & entertainment facilities
-largest form of a planned shopping center -largest overall trading area -(ex: Mall of America) |
Community shopping center
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A moderate-sized, planned shopping facility w/ a branch department store (traditional or discount) and/or a category killer store, as well as several smaller stores (similar to those in a neighborhood center)
-power center -lifestyle center |
Power center
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A shopping site with (1) up to a half-dozen or so category killer stores & a mix of smaller stores, or (2) several complementary stores specializing in one product category
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Lifestyle center
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An open-air shopping site that typically includes 150,000-500,000 square feet of space dedicated to upscale, well-known specialty stores
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