19 terms

Chapter 7 Review Retailing

STUDY
PLAY

Terms in this set (...)

3 most important things in Retailing?
Location, Location, Location
Prime consideration in customer's store choice
Develop sustainable competitive advantage
Risky b/c invest or lease?
How big is the U.S. Retail Space compared to the next highest country?
20 square feet to 3.1 sq ft per person
Name some types of locations?
Free standing sites
Inner City, Main Street
Shopping Centers
Freestanding Sites Advantages/Disadvantages?
Convenience/High Traffic/ Visibility/
Modest Occupancy Cost/ Seperation from Competitoin
No foot trafic/ No drawing power
Advantages/Disadvantages for City/Town locations?
Affluence returned/ Young professionals/ Returned empty-nesters/ Incentives to move provided by cities/ Jobs!/ Low Occupancy costs/ High Pedestrian Traffic
Adv/ Disadv of CBD (Central Business District)
Draws people during business hours/
Public Transportation
Pedestrian Traffic
Resident

High Security required
shoplifting
Parking is poor
Evenings/ Weekends slow
Advantages/ Disadvantages of Main Streets
Occupancy cost lower than CBDs
They don't attract as many people
Not as many stores
Smaller selections
Not much entertainment
What do Management Control in the Shopping Center?
Parking/ Security/ Outdoor Signage
Advertising/ Special Events
What are some types of Shopping Centers?
Neighborhood/ Community Center
Power Centers, Enclosed Malls
Lifestyle Centers (contians upscale chain specialty stores)
, Outlet Centers
Fashion Specialty Centers
Advantages/ Disadvantages of Neighborhood/Community Centers(Attached row of stores)?
Convenient Locations/ Easy Parking/ Low Occupancy Cost

Limited trade area/ lack of entertainment/ no protection from weather
Advantages/ Disadvantages of Power Centers (Target/ Lowe's/ Dicks)?
Open air set up
Free-standing anchors
Limited small specialty stores
Low occupancy cost
Advantages/ Disadvantages of Shopping Malls?
Many different types of stores/ Assortments Available/ Attracts many shoppers/ Never worry about weather/ Uniform hours of operation

High Occupancy Cost
Tenants May not like Mall Management
Competition can be intense
What are MXDs?
Mixed Use Developments - Combine several different
uses into one complex,
including shopping centers,
office tours, hotels,
residential complexes, civic
centers, and convention
centers.
What make Outlet Centers different from regular Shopping Centers?
Contain mostly manufacturers and retail outlet stores
What is an Omnicenter?
Combines enclosed malls, lifestyle center, and power centers
What are the matching location to retail strategy?
• Department Stores Regional Mall
• Specialty Apparel Central Business District, Regional malls
• Category Specialists Power Centers, Free Standing
• Grocery Stores Strip Shopping Centers
• Drug Stores Stand Alone
3 types of shopping?
Convenience
Comparison
Specialty
What are legal considerations for Retailers?
Environmental Issues (Hazardous Materials, )
Zoning and Building Codes
(How a site can be used/ type of building that can be used)
Use of signs restrictions
Licensing Requirements
What are alternate locations for Retialing?
Airports
Store within a store
Merchandise kiosk
Temporary Locations/ Pop-Up