Definition: A space you lease for the selling of goods to consumers. When it comes to business, retailers have one overall goal: to sell merchandise. That’s why they focus on sales floor space, adequate parking for customers, and an overall image that draws in customers.

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.

Choose a location where many of your target customers live or work. If you’re opening a toy store, for example, locating in a college town full of single twenty-somethings wouldn’t make sense. Your demographic research will help you pinpoint the best locations. Ask about average foot and vehicle traffic.

For any telecom organization to do business it needs to place its products within these outlets. They are the customer touch points and the breadth and depth of the sales channel. Therefore, having a list of these outlets is one of the foremost and critical steps. This activity can be referred to as retail mapping.

GIS employs use of computers, software and data. It puts market data from databases and spreadsheets on map and thus enables a retailer identify factors like the demographic profile of an area (by studying the customers around a potential store location).

Location decisions are critical to the ultimate success of the retail enterprise. Good locations allow ready access, attract large numbers of customers and increase the potential sales of retail outlets… even slight differences in location can have significant effects on market share and profitability.

Choosing a Retail Location

• Identify the market in which to locate the store.
• Evaluate the demand and supply within that market i.e. determine the market potential or the market size and estimate the number of shops that would be required to serve the market.
• Identify the most attractive.

Types of Retail Stores

• Department Stores. This type of retail outlet is one of the most complex types of establishments that offer a wide range of products.
• Specialty Stores.
• Supermarkets.
• Convenience Stores.
• Discount Stores.
• Hypermarkets or Super Stores.

7 Key Factors That Should Decide Your Retail Store Location

• Type Of Store You Wish To Set Up. This is the first thing that you must consider in the process towards finding your location.
• Demographics.
• Workforce Attributes.
• Businesses and competition in the proximity.
• Footfall.
• Accessibility.
• Leases.

Micro Factors Affecting Retail Location Decisions (Trade Area Analysis)

• Demographic Factors.
• Economic Factors.
• Subculture.
• Demand.
• Market Potential.
• Sales Potential.
• Index of Retail Saturation.
• Infrastructure.

A location strategy is a plan for obtaining the optimal location for a company by identifying company needs and objectives, and searching for locations with offerings that are compatible with these needs and objectives. A company’s location strategy should conform with, and be part of, its overall corporate strategy.

These are influenced by the availability of many factors. Some of them are: raw material, land, water, labor, capital, power, transport, and market. For ease of convenience, we can classify the location factors into two: geographical factors and non-geographical factors.

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.

Three forms of nonstore retailing are;

• direct marketing,
• direct selling, and.
• automatic vending.

Following are the important geographical factors influencing the location of industries.

• Raw Materials: ADVERTISEMENTS:
• Power: Regular supply of power is a pre-requisite for the localisation of industries.
• Labour:
• Transport:
• Market:
• Water:
• Site:
• Climate:

The factors most likely to affect turbine location are:

• Optimisation of energy production;
• Visual influence;
• Noise; and.
• Turbine loads.

Entrepreneur Jake Fox reveals the key factors a business needs to consider when selecting a new location.

• Accessibility. Does your business rely on frequent deliveries?
• Security.
• Competition.
• Business Rates.
• Skill base in the area.
• Potential for growth.

The new service, dubbed Family Link, allows owners of OnStar-equipped vehicles from Chevrolet, GMC, Buick and Cadillac to track a family member through the OnStar website and receive email and text alerts when the vehicle arrives at a location or at a specific time. …

Although you can simply unsubscribe from the service, the OnStar hardware continues to track how you use your vehicle, even if you remove its fuse. The only way to completely eliminate OnStar is to physically disconnect the module from your vehicle.

The Guardian app is designed to use your smartphone’s sensors to help detect a crash and alert an Emergency-Certified OnStar advisor, who can connect with first responders. Mobile Crash Response services can connect you to an OnStar advisor automatically on Android devices only.