Chapter 7 assignment new to ues
- 1. Jessica Willey, Samantha Green, Nyssa Sumser
- 2. Overview Types of Locations Unplanned Retail Locations Shopping Centers Other Location Opportunities Location and Retail Strategy Legal Considerations
- 3. Types of Locations Freestanding sites City or Town Locations Central Business District (CBD) Main Street Inner City
- 4. Unplanned Retail Locations Freestanding Sites- Advantages: Locations for Convenience individual, isolated store High traffic and visibility for other retailers. Modest occupancy cost Outparcels- Stores not Separation from competition connected to other stores Few restrictions in a shopping center, but in the same parking area. Disadvantages: Unplanned No foot traffic No drawing power
- 5. Unplanned Retail Locations City or Town Location Advantage: Gentrification- Bringing Low occupancy cost population back to the High pedestrian traffic cities. Disadvantages: Unplanned Limited traffic Parking Convenience
- 6. Unplanned Retail Locations Central Business District Advantages: (CBD) Draws in business Traditional down town Pedestrian Traffic business area in a city or Residents a town. Disadvantages: Unplanned Shoplifting Poor parking
- 7. Unplanned Retail Locations Main Street Advantages: Secondary business Occupancy cost low district in a suburb or Disadvantages: within a large city. Little traffic Unplanned Restrictions apply
- 8. Unplanned Retail Locations Inner City Advantage: High density urban area High Sales with high unemployment High margins and low median income High profits than surrounding areas. Disadvantage: Unplanned Parking
- 9. Shopping Centers Types of shopping centers Neighborhood and Community Centers (strip Centers) Power Centers Shopping Malls Lifestyle Centers Mixed-use Developments (MXDs) Outlet Centers Theme/Festival Centers Larger, Multiformat Developments—Omnicenters
- 10. Shopping Centers Neighborhood and Advantages: Community Shopping Convenient locations Easy parking Centers Low occupancy cost Strip shopping centers Disadvantages: Limited Trade area Lack entertainment and restaurants Less customers Attached row of stores Onsite parking
- 11. Shopping Centers Power Centers Advantages: Shopping centers that consist Located near enclosed primarily of collections of big-box malls retail stores such as discount Low occupancy costs stores (Target), off-price stores Convenient (Marshall’s), warehouse clubs Pedestrian traffic (Costco), and category specialists Convenient (Lowe’s, Best Buy) Large trade areas
- 12. Shopping Centers Shopping Malls Advantages: Enclosed, lighted shopping Many shoppers centers with retail stores on Large trade area sides of enclosed walkway. Inexpensive entertainment Regional Malls Exercise, socialize, sheltered Less than 800,000 square feet Disadvantages: Superregional Malls Higher occupancy cost More than 800,000 square feet Management control Competition intense Parking Appear run-down
- 13. Shopping Centers Lifestyle Centers Advantages: Shopping centers with open- Parking air configuration of specialty Convenient stores, entertainment, and Low occupancy cost restaurants. Higher income area Disadvantages: Less retail space Attract few customers
- 14. Shopping Centers Mix-use Developments Advantages: (MXDs) Pedestrian-oriented Combine several different Environment offers uses into one complex. consumers work, live, and Shopping centers, office play in a proximal area tours, hotels, residential Disadvantages: complexes, civic centers, and convention centers. High occupancy cost
- 15. Shopping Centers Outlet Centers Advantages: These shopping centers Lower occupancy cost contain mostly manufacturers then shopping malls and retail outlet stores Entertainment Disadvantages: Low traffic
- 16. Shopping Centers Theme/Festival Centers Advantages: Shopping centers that carry a Restaurant theme and incorporate it in Entertainment their merchandise. Located in Disadvantages: a historical place. Traffic mostly tourists No specialty stores No department stores
- 17. Shopping Centers Larger, Multiformat Developments—Omnicenters Combination of enclosed malls, lifestyle centers, and power centers. Larger developments are targeted to generate more pedestrian traffic and longer shopping trips To capture cross-shopping consumers
- 18. Other Location Opportunities Temporary or pop-up stores Store within a Store Merchandise Kiosks Airports
- 19. Other Location Opportunities Temporary or pop-up stores Advantages: Stores in temporary locations Very Versatile that focus on a product(s) Low start up Costs
- 20. Other Location Opportunities Store within a store A nontraditional location for retailers is a store in a larger store
- 21. Other Location Opportunities Merchandise Kiosks small temporary selling stations located in walkways of enclosed malls, airports, train stations or office building lobbies
- 22. Other Location Opportunities Airports People arrive for flights early, more time to shop
- 23. Location & Retail Strategy Shopping Behavior of consumers in Retailer’s Target Market Convenience Shopping Comparison Shopping Specialty Shopping Density of Target Market Uniqueness of Retail Offering
- 24. Location & Retail Strategy Convenience Shopping Customers concerned with minimizing their effort to get the product or service they want. Comparison Shopping Customers have a general idea about the type of product or service they want, but they don’t have a well-developed preference for a brand or model. Specialty shopping They know what they want and will not accept a substitute.
- 25. Location & Retail Strategy Density of Target Market- Density of the target market affects the choice of location type. Uniqueness of Retail Offering- convenience is less important for unique retailers.
- 26. Legal Considerations Environmental and Sustainability issues Zoning and Building Codes Zoning- determines how a particular site can be used Building codes- legal restrictions that specify the type, signs, size, and type of parking lot and more that can be used in that location. Signs Licensing requirements
- 27. Assignments Groups 1 and 6 Find two or more stores for the following: Freestanding Sites, Central Business District, Main Street, and Inner City. Then define why each store is placed under that category including advantages and disadvantages. Use any media
- 28. Assignments Groups 2 and 3 Visit 3 stores and define and analyze their trade area. Do you believe that the population living in the trade area provides the most potential for the stores? Is it a good location in general? Why or why not. Use any media
- 29. Assignments Group 7 Analyze the tenant mix of current and coming soon tenants located at Rushmore Crossing. Do the tenants compliment one another? What changes would you make? What type/types of location and retail strategy does the overall shopping center use? Use any media Group 5 choose any assignment