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RETAIL LOCATION - Coggle Diagram

- - - - An individual, isolated store unconnected to other retailers
    - - Convenience
      - High traffic and visibility
      - Modest occupancy cost
      - Separation from competition
      - Few restrictions
    - - No drawing power
      - No foot traffic
  - - - Similarities
        
        Share most of the characteristics of a primary CBD
      - Differences
        
        Traditional downtown business (CBD) vs shopping (Main Streets)
        
        Don't attract as many people
        
        Lower occupancy costs
        
        Not many stores then smaller selection offered
    - - Achieve high sales, higher margins and higher profits
      - Unmet demand tops 25% in many inner city markets
    - - Disadvantage
        
        Shoplifting
        
        Parking is poor
        
        High security required
        
        Evenings and weekends are slow
      - Advantages
        
        Hub for public transportation
        
        Pedestrian traffic
        
        Draws downtown business area in a city or town
        
        Residents
  - - - A shopping center is a group of retail and other commercial establishments that is planned, developed, owned, and managed as a single property
    - - Parking
      - Parking lot lighting
      - Security
      - Outdoor signage
      - Advertising
      - Special events for customers
    - - Power Centers including: discount stores, off-price stores, warehouse clubs
      - Enclosed Malls
        
        Advantages
        
        Many different assortments available
        
        Attracts many shoppers
        
        Many different types of stores
        
        Main Street for today’s shoppers
        
        Comfortable surrounding to shop
        
        Uniform hours of operation
        
        Never worry about the weather
        
        Disadvantage
        
        Occupancy costs are high
        
        Tenants may not like mall management control of operations
        
        Competition can be intense
        
        Customers may not have time to stroll through a mall
      - Neighborhood and Community Centers (Strip Centers)
      - Lifestyle Centers
      - Outlet Centers
      - Omnicenters
      - Theme/Festival Center