Why is store location such an important decision for retailers?

Pick your favorite

store. Describe the advantages and disadvantages of its current location, given its
store type and target market.

It is often assumed that a good location is the most important factor in

attracting customers. Supply and distribution are also made easier with a well-
located store. The capacity of a store to sell itself and cope with competition from
other companies is influenced by its location. For example, 7/11 is a convenience
store with around 3000 branches throughout the Philippines. It's most commonly
found around gas stations, department stores, and city parks.

The current location of 7/11 stores gives them an advantage in attracting and
gathering their target market, which includes Fast Fixers (male and female between
the ages of 18 and 35) who are more likely to work in blue collar jobs, Junior Junk
Junkies (male and female between the ages of 16 and 21), and SINKs (single
income,no kids). Because 7/11 outlets are conveniently positioned near gas stations,
department stores, and public parks, they benefit from a steady stream of consumers.
Another benefit of the store's location is the spread of its supply and a smart
marketing plan for consistent revenue.

On the other side, the disadvantage of 7/11 outlets being located near other
businesses is competition. Because of their locations in gas stations and department
shops, 7/11 has strong competition in marketing their products. Some locations are
advantageous, while others are disadvantageous since you will be competing with
local businesses. It may also result in high occupancy, making it difficult to balance
cost and revenue. Another downside of this convenience store's location is security,
since most 7/11 outlets are frequent targets for theft and robbery.

As a result, I conclude that store location is a critical decision for retailers

since it is also a marketing plan — a long-term strategy and investment that will
affect the business's future. As a result, choosing and studying the perfect location for
your business will provide you with a significant point and aspect to attract your
target market while also simplifying supply and distribution. As an outcome, due
to their favorable location for their target market, it is a vital essential and
component of successful retail stores that persist and are stable for a long time.