By Nnenna Joseph
Where you choose to locate your retail business will have a major impact on your public presence, walk-in traffic, the potential for future income, and other elements. Choosing a location that does not account for such factors may limit the business’s ability to succeed and grow.
Location is a major factor in determining where to situate a Mall – a cluster of malls at a location does not aid the growth of small, however, locating a mall where it is highly needed with few or no other competing malls has proven to be an instant success strategy for Savemore marketplace Owerri, Imo state
Savemore Marketplace Owerri launched on 13th December 2019, marking its 11th month since inception. The mall has been described to be one of the instantaneously successful malls in the country.
Best Place To Shop: Boutiques Or Malls
In its first 4 months, it recorded a minimum of 100 buyers daily and a returning customer strength of 50% due to its premium services. In 8 months, the number tripled, at this point, the mall had over 300 individual buyers daily and a 70% returning customer strength. This has called research into the mall’s strategy that constituted its tremendous sales and one of it has been attributed to its location.
One of the business strategies adopted by Savemore marketplace is its choice of location.
The Oji Area, in Owerri Imo State, is a densely populated area located in Owerri north with a population of 175,395. It is a fast-rising area with various activities and developments springing up in recent years yet no mall.
The location was chosen after several research conducted by the promoters of the business, attesting to its potential viability.
The area has working-class, civil servants, students, and business persons who are the target market of a mall. It is not particularly a high brow area, a mall was adequately befitting of its ambiance.
Getting Digital Marketing Right, The Savemore Marketplace Story
These and many more contributed to the instant boom of the business in that location. While building a mall, the choice of location will always be a priority factor to consider and the Savemore marketplace research team does a premium job at fetching the best locations.
This is just one of the contributing factors, other factors will be discussed subsequently.
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