This report was commissioned with 3 main objectives: The identification and analysis of general trading area, evaluation of the primary trading area, and commenting on the store image. We are expected to select one chosen mall and 3 competing malls of certain criteria and follow up with the objectives.
Our research explains a brief overview of our selected mall and store, which is Breadtalk from 313@Somerset. Our 3 competing malls are Hougang Mall, Harbourfront Centre and Westmall. We proceed with the general trading area using the Reilly’s Law of Retail Gravitation for the 4 malls. The distances, total floor size and net lettable area are listed clearly on the diagram.
Our report follows an in-depth analysis of the merits of the general trading area that included 3 main sections being, Index of Retail Saturation (IRS), Market Demand Potential and Market Supply factors. These sections are explained based on our main dominant districts that are identified as Toa Payoh, Novena and River Valley (Orchard). The most saturated mall using the IRS is 313@Somerset due to low amounts of HDB flats compared to the other areas. The Market Demand Potential states the main population demographic statistics, and explains the other 7 factors. The factors will evaluate the potential demand rate of the current consumer market that affects the malls. The Market Supply factors analyzes the competition faced based on the considerations of the floor size per store and per employee, store growth and the quality of the competition faced.
We have evaluated the Primary Trading Area (PTA) and determined the radius as 0.5 miles of 313@Somerset to identify our customer spotting done in that area. The 3 variables of our demand density map are “Not suitable for Halal consumers”, “Median income >$30,000 annually” and “>20 years old”. The red squares on the Supply Density indicates the existing bakery stores in our PTA.
Our last objective includes the... [continues]
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