GGR252H5 Lecture Notes - Lecture 4: Collector Road, Outlet Store, The Lightstone Group
Document Summary
To predict what would happen in different locations and in future under certain conditions. Start with observation of the real world and case studies. Make generalizations from observations and case studies. Apply generalization to other places to test its validity. Visibility - if the retail facility is not visible from the streets many customers do not notice is. Accessibility - how easy it is for customers to reach the site from surrounding streets or roads. Nearby traffic - high traffic volume is good for business. Co-tenants - what types of co-tenants are complementary and which are competitors. Consumer base and power (income) - determines market size. Rules of thumb - developer uses a single key factor to select a sitre for a new store. This key factor is regarded as directly related to sales performance. Example: convenience store rule of thumb: trade size area - at least 2000 households.
