What is Street Retail?
Street retail is one of the most popular formats of retail space that both small business owners and large enterprises tend to rent due to a number of advantages. A distinctive feature of modern street retail, and, at the same time, their main advantage, is the location on the ground floor of a building (often a residential building) and the presence of a separate entrance.
The name comes from the English “street retail” and translates as “street trade”. Of course, we cannot take the name literally, but it implies a constant flow of buyers due to its convenient location on a busy street. That is why such premises are so popular for rent.
Standard shopping malls contain several stores of different formats and types of goods at once, and customers sometimes spend more than 3 hours there. Therefore, it is much easier there with the flow of customers. At the same time, the location of the commercial premises is of great importance for the efficiency of street retail.
It is necessary to rent street retail taking into account the presence of potential buyers and the approximate number of people passing by. Of course, if you rent a retail space in an industrial area on a deserted street, then it is unlikely that you will be able to at least replenish the amount of finance invested in the preparation of the necessary documents, rent, hiring employees, repair work, and so on in a short time.
The most preferred location for street retail is in a residential complex, near the metro or just on a street with a lot of pedestrian traffic. Of course, the dream of any entrepreneur will be to rent a retail space in the so-called “shopping corridors” – streets where you can meet ordinary office workers, tourists, and just local residents. Most often, shopping corridors are located in the city center, providing a steady flow of customers for almost any type of business from shops to catering and beauty salons. However, the location does not solve everything, remember that the quality of the goods, pricing policy and competent advertising are equally important.