Impulse versus Destination
Some purchases are made on impulse and other purchases are made after careful planning. Retail for the carefully planned shopping will be termed destination retail. Starbucks is a great example of an impulse purchase. You see a Starbucks location and decide to pullover and have a coffee and perhaps a pastry. Have you noticed how Starbucks almost always has incredible locations?
Impulse
If they are in a shopping center, they’re almost always in an end-cap location. If they aree https://www.michaeljemery.com/ https://www.cmhmountaineering.com/ part of a larger shopping plaza, they typically have the best a location within the shopping plaza. If the retail space you are seeking involves impulse purchases, you should see prime space. Great visibility and great access are both important. Even though it will be painful, you probably need to pay for the very best possible location.
Destination
If you are seeking retail space for destination retail, an incredible location is not necessary. You need to be in the right area but you do not necessarily need the finest location within the shopping center. Almost all destination retail has a convenient location with good visibility. While access is a factor for destination retail, it is much less important in comparison to impulse purchase retail.
Types of Retail
Following are various types of retail space:
- Freestanding store
- Strip center
- Neighborhood Center
- Community Center
- Regional mall
- Power centers
Definitions
Anchored retail space has a retailer who generates an amount of traffic. The anchor is typically a larger store or perhaps even a set of larger stores. A grocery store is the anchor for most neighborhood shopping centers. Department stores have typically been the anchors for regional malls.
Shadow anchor refers to a shopping center (typically a strip shopping center) which has a mall by virtue of being proximate to a major retailer. Target, Wal-Mart, Sands, Costco and IKEA are all stores which would be good draws for a shadow anchor shopping center.