When it comes to selecting a shopping center, there are two main considerations that retailers should take into account. Firstly, the stores must be easily accessible by roads, trains and public transport. For instance, Karol Bagh in Delhi is well connected to roads and rail traffic to neighboring cities. Secondly, it is important to assess the compatibility of the retail store with other nearby retail stores in that area.
For example, a luxury clothing store might not be a good fit in a retail strip with a variety of discounts, a store, and a convenience store. In addition to these two factors, retailers should also consider the techniques and design strategies that can turn an undifferentiated and unattractive mall into an attractive destination for shoppers. This includes the selection of retailers, the design of the mall, the dining options and the services. Furthermore, parking should be available and take into account the design of the parking lot or garage.
Personal factors should also be taken into account when selecting a site. These include the distance from your home and the restrictions set by the landlord. Additionally, if you plan to work in your store, think about issues related to work-life balance such as the distance between the store and your home. Lastly, depending on the size of the property and the diversity of your merchandise, you'll want to consider the area carefully.
WDG Consulting is a site selection company and a location strategy firm with professionals who have knowledge in the field. They can help retailers make informed decisions when selecting a shopping center that meets their needs.
