Trading area analysis for retail store zvonqmo

Trading area analysis for retail store

24.11.2020

Rampton79356

Store Location – Trading Area Analysis and Site Selection. January 2011; DOI: 10.1007/978-3-8349 store location is considered to be one of the most important elements in retail marketing A trade area analysis shows where a company’s customers live in relation to its existing business sites, or sites that are planned for the future. The analysis compares the number of customers by distance from a business’ site to the total number of households in the study area. It is typical for a trade area to have a Primary and Secondary Trade Area • Primary Trade Area is usually the geographic area in which between 55% and 70% of customers originate. • Secondary Trade Area represents a further 15-20%. Combined, these trade areas equal the Main Trade Area (MTA), which usually represent 70-85% of customer origin. Merchandise kiosksSmall selling spaces, typically located in the walkways of enclosedmalls, airports, train stations, or office building lobbies. OmnicentersOmnicenters are becomingmore popular in the U.S.partly from the desire oftenants for lower common-area maintenance chargesand the growing tendencyof consumers to cross-shop.

Retail trade area analysis focuses on locating and describing the target market. This knowledge is critical for both marketing and merchandising purposes, as well as for choosing new retail locations. In site evaluation, trade area analysis is combined with many operational requirements of the retail chain (Jones, Simmons 1993).

Trade area analysis and mapping describe the characteristics of the area around a store or network of stores. Without accurate trade area definitions, you cannot Defining a downtown or business district's trade area is an important first step in base and allows you to calculate demand for stores, products, and services.

Identify the main factors to consider when analyzing a retail trading area. A trading area Even with analysis, there is a possibility that a business may not work.

Not only are they retailers; they are being thrust more and more into which include such things as population density, retail synergy, and trade area access.

Have you determined how much retail space, storage area, or the size of the office you need? If you do not answer these basic questions, it will be

the creation of new retail or service firms. In the first case, a trade area analysis serves mainly to continuously adapt the marketing policy to attract as much

19 Nov 2008 Chapter 9 Trading-Area Analysis RETAIL MANAGEMENT: A how trading areas may be delineated for existing and new stores ; 3. 19 Nov 1998 Trade area analysis provides the foundation for: Understanding the geographic extent and characteristics of store patronage. Spatially assessing Identify the main factors to consider when analyzing a retail trading area. A trading area Even with analysis, there is a possibility that a business may not work. This article on Trade Area Analysis has a great deal of helpful information with a high enough income and the right demographic to shop in our retail store.