RETAIL STORE LOCATION, RETAIL STRUCTURE & FUNCTION

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RETAIL STORE LOCATION, RETAIL STRUCTURE & FUNCTION:

RETAIL STORE LOCATION, RETAIL STRUCTURE & FUNCTION BY: HARISH LAMBA PGDM 4 TH SEM.

Introduction of retail location:

Introduction of retail location A retail location means where the retailer setup his store. The Location of the Retail Store plays a very important Role in its Success. It is an integral & crucial part of the Retail Strategy as the location of the Store conveys a lot about its image. After Set-up a retail store, a retailer can change its merchandise mix, adjust prices, improve communication/ services but it’s very difficult to change the location. So a lot of Planning and Research go in before Deciding upon some Location, Be it about penetrating into a new city, new customer segment or a new location within the city. Where you choose to locate your retail business will have a major impact on everything your shop does. The difference between selecting the wrong location and the right site could be the difference between business failure and success.

Factors that influence Location Selection in Retail outlets cont..:

Factors that influence Location Selection in Retail outlets cont.. Type of product -What kind of products the business is selling, as some goods will require certain types of locations. -Would your store be considered a convenience store, a specialty shop or a shopping store ? POPULATION AND THE CUSTOMER If the retailer is choosing a city or state to locate the retail store, information on the area's population, income and age. Knowing who are the customers, and assuring a location where your customers live, work and shop

Factors that influence Location Selection in Retail outlets cont..:

Factors that influence Location Selection in Retail outlets cont.. ACCESSIBILITY -How many people walk or drive past the location -Is the area served by public transportation? -Is there adequate parking. VISIBILITY -look at the location from the customer's view point. -Can the store be seen from the main flow of traffic? -Will your sign be easily seen?

Factors that influence Location Selection in Retail outlets cont..:

Factors that influence Location Selection in Retail outlets cont.. SIGNAGE, ZONING AND PLANNING -Before signing a lease, be sure you understand all the rules, policies and procedures related to your retail store location. -Contact the local city hall and zoning commission for information on regulations regarding signage. -Ask about any restrictions that may affect your retail operation and any future planning that could change traffic, such as highway construction

Factors that influence Location Selection in Retail outlets cont..:

Factors that influence Location Selection in Retail outlets cont.. COMPETITION AND NEIGHBOURS Other area businesses in your prospective location can actually help or hurt your retail shop LOCATION COSTS -Besides the base rent, consider all costs involved when choosing a retail store location. -Who pays for lawn care, building maintenance, utilities and security?

Factors that influence Location Selection in Retail outlets cont..:

Factors that influence Location Selection in Retail outlets cont.. -Who pays for the upkeep and repair of the heating/air units? -If the location is remote, how much additional marketing will it take for customers to find you? How much is the average utility bill? Will you need to make any repairs, do any painting or remodelling to have the location fit your needs? Will the retailer be responsible for property taxes?

Retail channel structure:

Retail channel structure

Retail store structure:

Retail store structure

Functions of retailer:

Functions of retailer To Customers: He provides ready stock of goods and as such he sells and quantity of goods desired by the customers. He keeps a large variety of goods produced by different producers and thereby ensures a wide variety of choice to the customers. He relives the consumers of maintaining large quantity of goods for future period because he himself holds large stock of goods. He develops personal relationship with the customers by giving them credit. he provides free-home delivery service to the customers. He informs the new product to the customers. he makes arrangement for replacement of goods when he receive complaints.

Functions of retailer cont..:

Functions of retailer cont.. To Wholesaler: He gives valuable market information with regard to taste, fashion and demand for the goods to the wholesaler. The retailer maintains direct contact with the customers and so he relieves the wholesaler with regard to maintenance of direct contact. He  helps the wholesaler in getting their goods distributed to the consumer. He is regarded as an important link between the wholesaler and the consumer. He creates demand for the products by displaying the goods to the consumers.

THANK YOU:

THANK YOU

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