Site Selection for Retail Location

Site selection is significant decision for retailers planning to open new stores. Not just do they have to decide whether they has desire to locate in a mall or as a standalone store, they also have to assess the site's potential in terms of likely profitability and sales.

Today most stores cluster together to enhance their customer pulling power and to provide consumers the convenience of one-stop shopping. A shopping centre is a group of retail businesses planned, owned, developed and managed as a unit. Normally it contains a branch of a variety store or department store, a supermarket, specialty stores, professional offices, and sometimes a bank. Mostly shopping centres are neighbourhood shopping centres or strip malls that contain between 5 and 15 stores generally. They are close and convenient for consumers. Usually they contain a supermarket, possibly a discount store, and different service stores-self-service laundry, dry cleaner, drugstore, video-rental outlet, hardware store, barber or beauty shop or other stores.