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Why Is Your Site Selection Strategy More Critical Than Ever?
From The Buxton Co
Retail site selection has always been an important element of a brandís strategy. Great locations position retailers for success, while poor locations yield disappointing results.
For decades, retail real estate professionals have defined site selection criteria to identify the elements that separate great retail sites from the rest. These criteria are critical because they shape the brandís real estate strategy.
However, the depth of market research invested in defining a site selection strategy can vary dramatically. Sometimes the process is based on simple demographic counts and mileage rings, and sometimes itís based on more nuanced factors identified through a site selection model.
If your brand is still basing your retail site selection decisions on demographic criteria and gut feeling, here are three reasons why you need to give your site selection strategy an upgrade:
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