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RMG 200 (57)
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Ryerson University
Retail Management
RMG 200
Brent Barr

OTHER RETAIL LOCATION OPPORTUNITIES Mix-Use Developments (MXDs)  Development that combines several uses in one complex (eg. Shopping centre, office tower, hotel, residential complex, civic centre, and convention centre)  Land costs the same whether a developer builds a shopping mall by itself or builds an office tower over the mall or parking structure Airports  Three to four times as high as regular mall stores  Rents are at least 20% higher than malls  Costs may be higher because inconvenient for workers, higher wages Resorts  Prime location opportunities for gold courses, entertainment spas and complementary retailers Hospitals  Patients and guests  Eg. Chapters Store within a store  Eg. department stores lease spaces t retailers such as sellers of cosmetics and fine jewelry or furs  Eg. Grocery stores have been experimenting with providers such as banks, film processors, and video outlets CITY OR TOWN LOCATIONS Central Business District  The traditional downtown business area of a city or town (CBD)  hub for public transportation  high level of pedestrian traffic  parking often limited  no control over weather  shopping on weekends and evening is slow  lack of planning (one street is upscale and another street is low income) Downtown Locations The CBD located in the tradition shopping area of smaller towns, or a secondary business district in suburb or within a larger city, generally featuring lower occupancy costs, fewer people, fewer stores, smaller overall selection of goods or services, and fewer entertainment and recreational activities than more successful primary central business districts Redevelopment Efforts in Reasons why city and town location have become very attractive location City and Town Locations alternatives to shopping centres:  Gentrification: process in which old buildings are town down or are restored to create new offices, housing developments and retailers  Developers not building as many malls as before  Same chains are finding that occupancy costs in city and town locations compare favourably to malls  City and town locations often offer retailers incredible expansion opportunities because of a stable and mature customer base and relatively low competition  Cities often provide significant incentives to locate in urban centres  Young professionals and retired empty nesters are moving to urban centres to enjoy the convenience of shopping, restaurants, and entertainment FREESTANDING SITES  Freestanding site: a retail location that is not connected to other retailers Advantage Disadvantage  greter visibility  lack of synergy with other stores  Lower rents  must be destination point for customers  Ample parking  must offer customers something special in merchandise, price, promotion, or services to get  No direct competition them into the store  Greater convenience for customers  Fewer restrictions on signs, hours, or merchandise  Ease of expansion RETAIL SITE SELECTION  What issues should be considered when determining in which region or trade area to locate a store?  What is a trade area, and why should a retailer choose one over another?  What factors should retailers consider when deciding on a particular site?  How can retailers forecast sales for new store locatio
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