Course review.docx

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April 1, 2013 Course review - Key components o Demand side analysis o Consumer behaviour  Life cycle – age and family (children – adults – family)  Life level – income  Life style – dependent of responsibility, age, family structure  Association with socio-economic data  Connections to retail  Understanding discretionary (higher value, more to spend) and non- discretionary expenditure • Relationships with life cycle, life level, and life style  Understanding the geography of consumer activity – consumer activity. Relationship between consumer activity and geography. • Distance decay, attraction, travel patterns, difference between shopping and convenience goods, relationship to life cycle, life level, life style  people will typically shop at the malls close to them. More distance more costly. How much is transportation cost going to make a difference to the cost of where you’re going to shop. Thisrelation to where you live and how you travel and where you fit into your life cycle. Just cause you have more monkey doesn’t mean you’ll travel more o Supply side analysis  Retail formats • Retail strips, shopping malls/centres, power centres, lifestyle centres • Understanding the geography – internal spatial organization (is there clustering of stores, where are the located), location • Understanding the function and market focus, changes in format • Advantage/disadvantage April 1, 2013  Business format  how is this taking place, what’s happening, where are they located and how it reflects it all. • Independent stores, department stores, chains, big box formats, franchise (trade name format, business format) • Understanding geography – location, connection to retail formats
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