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Asked by : Alok Sharma, Retail , Leading Consultancy Firm
Industry : Retail Chain/Logistics
Functional Area : Channel Management
Activity: Question posted: 01 25 2010 16:50:28 +0000, 7 answers, 2183 views, last activity 07 06 2010 20:18:08 +0000
 
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Every one knows to have a profitable store you should be at right location; but what all key attributes which makes that site impressive.

 

 
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I find it difficult to answer this question in holistic approach as today there are many retail formats & location should be product/format/brand oriented.

There can be hyper/mega malls which needs hell out of space or there can be fashion brands which needs rather prime location like high streets or malls or there can be kiosks like of Amul where things can be different for choosing location.

Store like Sony World or a Provogue studio or a furniture showroom by Style-Spa can have their own priorities for this though the target audience is more or less belongs to the same consumer class. Like  the latter one can be seen in many cities on the first floor.(Furniture demands huge space & its wise to go for the first floor to save costs).

One very basic funda what is true for all, I believe is profitability & growth potential, superfluous operational costs due to exorbitant rent or usurious land prices should be avoided other wise recessions hits such stores very badly & in economic cycle they are bound to come.

Competition activities plays an important role, due to that sometimes, what I have experience, cash rich brands operates even with higher operating costs just to maintain the presence & brand equity in a certain place.

Though they exists with whatsoever reasons, close proximity between two stores of similar brand should be avoided.

Knowledge of local market places, buying patterns, spending power & other behavioral understanding can certainly do wonders & that should be thoroughly studied before making any decision.

There are several other factors like mainly the visibility & others like space for signage etc, neighboring stores, parking, legal issues etc.

Thanks for referring Alok, I have came across some of you comments here which are really superb.

 



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by   ujjval jain, Retail, Retail  | 01 25 2010 18:37:21 +0000
  Answered by     Ajay Ziz, Dy. Registrar,, University of Jammu  | 02 10 2010 11:35:03 +0000
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any locale can be a desired one .. provided as mishra says .. the BDM is sharp ..

  Answered by     Ajay Ziz, Dy. Registrar,, University of Jammu  | 02 10 2010 11:34:46 +0000
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any locale can be a desired one .. provided as mishra says .. the BDM is sharp ..

  Answered by     MANI SUNDARAM, EXECUTIVE DIRECTOR CORP, Super Auto Forge ltd  | 02 10 2010 11:26:51 +0000
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Apart from Business strategy angle, Logistics factors include,proximity to customers,rail/road accessibility,Distance from Hub/warehouse,lead time from factory to the retail location,Tax angle,etc.

  Answered by     Deepa Narayan, Transport/Distribution Manager, HLL  | 01 27 2010 13:22:33 +0000
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In my opinion the location must be selected according to what kind of product the company is selling and which type of people will be attracted to it. 

  Answered by     Makrand Bhave, AGM - Corporate Business, E18, part of Network 18 Group  | 01 26 2010 03:10:42 +0000
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Brilliant Ujval!! :) Cannot add anything better than that at all.

  Answered by     Harsh Vardhan Mishra, ASSISTANT MANAGER, AIBA RETAIL  | 01 25 2010 20:02:49 +0000
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It all depends on the Business development manager of the region .............and no one concerns abt it...might be i am very much frank but its true.

 
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