Q. Have you ever wondered why the best CRU (commercial retail unit) retailers almost always want to be located in a “grocery store anchored” strip mall? It’s a good question, especially if you are looking for the best location for your retail or service business.
A. It’s all about traffic or what professional site selectors call “generators”. Below are 10 good reasons you should strongly consider placing your business in a good grocery-anchored plaza.
1. It is because there is no more powerful motivation than the human need to eat and feed one’s family, therefore we are highly motivated to shop for groceries on a regular basis.
2. Unlike other types of retail, grocery stores/supermarkets generate strong daily “shopping” traffic, not just casual passers by grabbing a coffee on their way to work.
3. This traffic is regular because once shoppers establish their grocery shopping habits they don’t change those habits easily.
4. The convenience and time saving factor allows time tapped shoppers to complete multiple errands at one place.
5. The grocery-anchored plaza generally has a large parking field so there will be lots of free parking for your customers as well.
6. A good quality retail property will have good access and egress points and a signalized intersection so entering and exiting the plaza will not be a problem.
7. A strong retail property will have good visibility, good signage opportunities and a good mix of retail uses. Don’t forget, the more errands a shopper can complete in one stop, the more likely it is that she will come to that plaza.
8. A strong grocery anchor will attract other generators such as a pharmacy and a medical walk-in clinic, banks, postal outlet, service uses etc.
9. A smart supermarket will have done its homework and will generally locate near to its prime target market with an adequate trade area. You should do the same homework for your business.
10. If the success of your is business is dependent upon the grocery store being open and operating, be certain to protect your self in your lease in the event the grocery store goes “dark” or closes.
To learn more about the “Secrets of Strategic Site Selection” contact Kelly Laughton, at Top Cats Realty Inc. Brokerage. Kelly has been successfully working with retailers and retail landlords for more than three decades and can help you avoid making costly mistakes when choosing your new business location.
Call 416 419-7470 or email: kelly@topcats.ca
