It is said that the location of a retail store is the most important decision made by a retailer. I would definitely have to agree. I believe the site location needs to be suitable for the target market of the retail store.
I visited Walgreens on Spring Garden Street. It is in walking distance from UNCG and the surronding student housing apartments. This retailer is a type of strip center. Strip centers are shopping centers thaat usually have parking in front of the stores. Walgreens definitely has this. So, there are two types of strip centers: a traditional strip center and a power strip center. Walgreens falls under a traditional strip center. The concept is general merchandise, 30,000-250,00 square footage, one or more anchors, and within three to seven miles. The type of anchors are discount, supermarket, drug, home improvement, and large specialty discount apparel. Walgreens is also a main street location.
The advantages are that it is close to the college and student apartments so it provides source of customers. Since it is close to campus they do have security. Campus police can be at the location in a matter of seconds. Walgreens is also open late. Of course, Walgreens has plenty of parking directly in front of the store. It has a strong competition with CVS and the pedestrian traffic is good. There are walkways from campus directly to the store location for people to cross. The disadvantages are that there is no protection from the weather, no source of entertainment/recreation, and it does not draw a large size of people to the area. Mostly, because college students live in the area. Overall, I believe it is a good location.
No comments:
Post a Comment