What is the site selection retailing?
Retail site selection is the process of choosing a location for your retail stores. While these decisions were previously based on intuition and experience, these decisions now rely heavily on rich analytics and robust foot traffic data.
What are the factors to be considered in retail site selection?
Site Selection for Retail Store (4 Factors)
- Connectivity and ease of traffic flow: These are the two important issues that a retailer must consider while selecting a site.
- Parking facility: ADVERTISEMENTS:
- Cost effectiveness:
- Presence of competitors:
How do retailers choose locations?
There are three phases of choosing a location for your retail business: selection of a city, choice of an area or type of location within a city, and identification of a specific site. Total retail trade potential for different lines of trade. Number and size of competition. Quality and aggressiveness of competition.
What are the methods of retailing?
5 common retail methods in today’s economy
- Department stores.
- Specialty stores.
- Discount stores.
- Supermarkets (superstores)
- eCommerce.
What are the types of retail location?
Types of Retail Outlets
- Department Stores. A department store is a set-up which offers wide range of products to the end-users under one roof.
- Discount Stores.
- Supermarket.
- Warehouse Stores.
- Mom and Pop Store (also called Kirana Store in India)
- Speciality Stores.
- Malls.
- E Tailers.
What is site selection process?
Process. The site selection process includes a detailed evaluation of project needs which are then measured against the merits of potential locations. The process typically includes selecting and evaluating communities, real estate site analysis and acquisition, and may include negotiating tax incentives.
What is the importance of retail location?
It’s commonly believed good location is the key element to attracting customers. A well-located store also makes supply and distribution easier. Location can influence a retailer’s ability to market itself, and to deal with the competition it faces from other businesses.
What are the types of retail locations?
Why retail location is important?
Who performs the site selection process?
The team will typically include representatives from the executive team, business unit, real estate department, logistics department, tax department, human resources and outside site selection consultants.
How does a retail site selection process work?
The final selection of a retail site is essentially a process of elimination. By analyzing the regional and local markets, assessing retail-trading areas and appraising retail site locations, the range of choices has been narrowed to site alternatives consistent with the firms objectives, operations and the further expectations.
How is GIS used in retail site selection?
By using GIS in the retail site selection process you can assess a site’s competitive pressures, accessibility, and market potential. The retail site location process is not simply a matter of identifying available properties. It requires a series of analytical steps that GIS software is ideally suited to help answer:
What to consider when choosing a retail site?
Site characteristics to consider include, but aren’t limited to, the following: Steady traffic volumes and correct traffic flow direction (particularly for convenience-oriented businesses that take advantage of specific dayparts) The retail site selection process involves many steps and many different types of analysis.
How to find the best site for site selection?
You can then use Maptitude to see the best central location based on the density and distribution of the addresses. These could be weighted by seniority, allowing you to better explore potential site locations by considering staff characteristics. There is also a Facility Location wizard f or site selection analysis (see Facility Location below) .