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The retail format (also known as the retail formula) influences the consumer's store choice and addresses the consumer's expectations. At its most basic level, a retail format is a simple marketplace , that is; a location where goods and services are exchanged.
Retail geography, or geography of retailing, is the study of where to place retail stores based on where their customers are. The use of retail geography has grown significantly in the past decade as a result of the use of geographic information systems . It first emerged in the United States in the 1960s. [1]
Large-scale retail enterprises purchasing goods to suppliers with procurement scale advantage, can directly contact with the product manufacturing, with strong bargaining power, therefore, direct contact with the manufacturer is a large retail enterprise to take the main purchasing mode, it is a terminal to the starting point of zero level ...
The study of facility location problems (FLP), also known as location analysis, is a branch of operations research and computational geometry concerned with the optimal placement of facilities to minimize transportation costs while considering factors like avoiding placing hazardous materials near housing, and competitors' facilities.
Retail research studies suggest that there is a strong relationship between a store's positioning and the socio-economic status of customers. [33] In addition, the retail strategy, including service quality, has a significant and positive association with customer loyalty. [34]
A location of a store in Nashville for example would carry different products than a store in Seattle. Clothing stores do this often for seasonality reasons, as well as hardware stores – selling boots and shovels in cold climates and sandals and sprinklers in more temperate areas.
Location theory has become an integral part of economic geography, regional science, and spatial economics. Location theory addresses questions of what economic activities are located where and why. Location theory or microeconomic theory generally assumes that agents act in their own self-interest. Firms thus choose locations that maximize ...
Retail parks originate from out of town retail location containing big box retailers which are not suited to pedestrianised high streets, such as garden centres, home stores supermarkets. [3] More recently, many high street retailers have moved to retail parks, since retail parks offer cheaper rents and cheaper parking for customers.
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