Term
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Definition
| a location where there is no better use for the site than the retail store that is being planned |
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Term
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Definition
| dominant large-scale stores that are expected to draw customers to the center |
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Term
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Definition
| an indicator of a market's overall retail potential & is comprised of weighted measures of effective buying income (personal income, including all non-tax payments such as social security, minus all taxes), retail sales, and population; Weighted in the following manner: ___ = 0.5 (the area's % of US effective buying income) + 0.3 (the area's % of US retail sales) + 0.2 (the area's % of US population). |
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Term
| central business district (CBD) |
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Definition
| usually consists of an unplanned shopping area around the geographic point at which all public transportation systems converge; it is usually located in the center of the city when the city originated historically; STRENGTHS- easy access to public transportantion, wide product assortment, variety in images/prices/services, proximity to commercial activities; WEAKNESSES- inadequate (and usually expensive) parking, older stores, high rents & taxes, traffic & delivery congestion, potentially high crime rate, often-decaying conditions of many inner cities |
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Definition
| the inherent power of the gov't to seize private property w/o the owner's consent in order to benefit the community |
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Definition
| generally locates along major traffic arteries, w/o any adjacent retailers selling competing products; ADVANTAGES- lack or direct competition, generally lower costs, freedom in operations & hours, facilities that can be adapted to individual needs, inexpensive parking; DISADVANTAGES- lack of drawing power from complementary stores, difficulties in attracting customers for the initial visit, higher advertising & promotional costs, operating costs cannot be shared with others, stores may have to be built rather than rented, zoning laws may restrice some activities |
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Term
| geographic information system (GIS) |
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Definition
| a computerized system that combines physical geography with cultural geography. physical- the latitude & longitude of a specific point in physical space & its related phys characteristics (water, land, temperature, annual rainfall, etc). cultural- things ppl have put in place in that space, the buffer that humankind has created b/t itself & the raw phys envi & includes characteristics of the population & mobile physical structures |
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Term
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Definition
| the introductory or first material viewers see when they access a retailer's internet site. it is equivalent to a retailers's storefront in the physical world |
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Term
| index of retail saturation |
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Definition
| the ratio of demand for a product divided by available supply. The higher the number, the higher the potential for new retail space |
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Term
| neighborhood business district |
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Definition
| a shopping area that evolves to satisfy the convenience-oriented shopping needs of a neighborhood & generally contains several small stores (with the major retailer being either a supermarket, super drugstore, or a variety store) & is located on a major artery of a residential area. |
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Term
| non-store based retailers |
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Definition
| includes street peddlers, direct sellers, catalog retailers, automated merch systems, & e-tailers. it should be noted that some innovative retailers are using multiple retail formats to reach their targer market |
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Term
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Definition
| when a market has too many stores to yield a fair return on investment |
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Term
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Definition
| when a market has few too stores to satisfactorily meet the needs of the customer |
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Term
| Reilly's law of retail gravitation |
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Definition
| based on Newtonian gravitational principles and explains how large urbanized areas attract customers from smaller rural communities. In effect, this law states that 2 cities attract trade from an intermediate place approx. in direct proportion to the population of the 2 cities and in inverse proportion to the square of the distance from these 2 cities to the intermediate place. |
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Term
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Definition
| a condition where there are just enough store facilities, for a given type of store, to efficiently and satisfactorily serve the population and yield a fair profit to the owners |
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Term
| secondary business district (SBD) |
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Definition
| a shopping area that is smaller than the central business district (CBD) & revolves around at least one department or variety store at a major street intersection. |
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Definition
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Term
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Definition
| an evaluation of the density of demand & supply within each markey with the goal of identifying the best retail site(s) available within each market. size of trading area, description of trading area, demand density,supply density, and sit availability are the aspects to be considered and evaluated. |
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Term
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Definition
| the total collection of all the pages of info on the retailer's internet site |
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Definition
| the geographic area from which a retailer, group of retailers, or community draws its customers |
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Definition
| leaving your community to shop |
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Term
| retail gravitation fearing |
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Definition
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