What factors do you consider to be the most important for retailers when deciding where to locate their future outlets? Explain why you think this.
Answers
Answer:
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Explanation:In choosing a city, investigate these main factors:
Size of the city’s trading area
Population and population trends
Total purchasing power and who has it
Total retail trade potential for different lines of trade
Number and size of competition
Quality and aggressiveness of competition
Once you have a general idea of what city you like, choose an area or type of location within that city by evaluating these:
Customer attraction power
The nature of competition
Availability of access routes to the stores
Zoning regulations
Geographic direction of the city’s expansion
General appearance of the area
Sales and traffic growth prospects of the trade area
Demographics of neighborhoods
These are factors in narrowing down your site choices:
Traffic flow
Complementary nature of neighboring stores
Adequacy of parking
Vulnerability to competition
Cost of the site
Use the Scribble Maps app to create your power zone. P