Module 3 - Retail MGMT
Module 3 - Retail MGMT
Agenda
Shopping Centers, Malls, City or town etc. Various types of locations and retail strategy, Site location Factors affecting the demand for a region & attractiveness of a site
Christ University, Bangalore
Shopping Centers
The term Shopping Center has been evolving since the early 1950s A shopping center is a group of retail and other commercial establishments that is planned, developed, owned, and managed as a single property The two main configurations of shopping centers are : 1.Strip Shopping Centers ,and, 2.Enclosed Shopping Malls
Shopping Malls
Shopping Malls are shopping centers in which customers park in outlying areas and walk to the stores Traditional malls are enclosed Hence, customers are protected from the weather
De- malling
A more extreme approach to revitalizing a mall is known as De- malling De- malling usually involves demolishing a malls small shops, scrapping its common space and food courts, enlarging the sites once occupied by department stores, and adding more entrances onto the parking lot. For example, Anaheim Plaza was one of the first enclosed malls in Orange County, California, near Disneyland. During the 1980s, it had lost most of its original glamour. Its owner bulldozed most of the mall and built in its place a string of stores, opening onto a parking lot. The new tenants include a Wal- Mart, CompUsa, Old Navy, Radio Shack, Petco, and Payless Shoes
Regional Centers
A regional center is a shopping mall that provides general merchandise (a large percentage of which is apparel) and services in full depth and variety. Its main attractions are its anchors, department and discount stores, or fashion specialty stores. A typical regional center is usually enclosed with an inward orientation of the stores connected by a common walkway, with parking surrounding the outside perimeter.
Superregional Center
A superregional center is a shopping center that is similar to a regional center, but because of its larger size, it has more anchors and a deeper selection of merchandise, and it draws from a larger population base.
Lifestyle Centers
A Lifestyle center is an outdoor traditional streetscape layout with sit- down restaurants and a conglomeration of retailers such as Williams- Sonoma, Pottery Barn, and Eddie Bauer. But there are no self- service discount stores like Best Buy or Target. The lifestyle centers offer shoppers convenience, safety, an optimum tenant mix, and a pleasant atmosphere.
Outlet Centers
Outlet Centers are shopping centers that consist mainly mostly of manufacturers outlet stores selling their own brands, supposedly at a discount. Outlet center tenants view this location option as an opportunity to get rid of excess or distressed merchandise, sell more merchandise, and, to a lesser extent, test new merchandise ideas
Merchandise Kiosks
Although not a type of shopping mall, Merchandise Kiosks are found in shopping malls of all types and are a popular location alternative for retailers with small space needs. Merchandise Kiosks are small selling spaces offering a limited merchandise assortment. These selling spaces are typically between 40 and 500 square feet and can be in prime mall locations. They are relatively inexpensive compared to a regular store. They usually have short- term leases, shielding tenants from the liability of having to pay long- term rent in case the business fails. Some merchandise kiosks operate seasonally, for instance, selling polar fleece in winter and baseball hats in summer.
Freestanding Sites
Although most retailers locate in strip centers or planned shopping malls, a frequent option for large retailers is a freestanding site A freestanding site is a retail location thats not connected to other retailers, although many are located adjacent to malls. Retailers with large space requirements, such as warehouse clubs and hypermarkets, are often freestanding. Advantages of freestanding locations are greater visibility, lower rents, ample parking, no direct competition, greater convenience for customers, fewer restrictions on signs, hours, or merchandise (which might be imposed in a merchandise), and ease of expansion. The most serious disadvantage of freestanding sites is the lack of synergy with other stores.
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