RETAILER'S CHOICE OF LOCATION

Abstract

Today's retail market is highly cosmopolitan and certainly more complex than before. To remain competitive, there is a need for owners to protect values through sound property management. Given the current market conditions, owners, managers, and retail developers need to be even more concerned with the existing tenant's satisfaction, as well as to recognize the elements that enter into the prospective tenant's location decision. Therefore the landlords/vendors of retail facilities need to understand the interplay between the characteristics peculiar to various niche retailers and their respective locational preferences. This is critical to ensure the success of a retail facility amid competition for tenants in maturing and competitive retail industry. From the study, it reveals that trade area is the most important factor to a retailer's choice of location. The study also reveals that the retailers from the urban and suburban malls are different in their choice of location. Except for trade area, greater importance is held by retail traders in the suburban shopping centre in all the other factors. They are tenant mix, promotion, atmospherics and accessibility