Where you opt to locate your retail business shall have a significant influence on your walk-in traffic, potential for future income, public presence and various other factors. Choosing the wrong location can limit the ability of your business to grow and succeed. While opening commercial shops in Gurgaon can definitely be a good idea considering the consistent growth of the city and the average purchasing power of its populace, it is also vital to zero in on the ideal spot in the city to set up your venture.
Identifying the right location for setting up your store would imply gaining an understanding of the right qualities to look for in a potential space. Researching about your potential customer demographics, considering the location of your major competitors and analyzing the prime neighbourhoods of a city are all important to finding the right location for a retail store. There are multiple posh neighbourhoods across Gurgaon where you can consider setting up your store. To take the smartest possible decision, you must particularly focus on the following:
- Foot traffic: No matter the type of retail store you are setting up, you have to analyze the footfall of the location. Your business prospects shall be significantly impacted by the amount of foot traffic the locality gets. If your store is located at a by-lane with low foot traffic, you are unlikely to receive as many customers as a shop located on a busy main street that has plenty of passers-by.
- Proximity to other retail options: Having stores that complement your business can actually prove to be profitable for your store. For example, a high-end clothing brand can be successful next to a hair salon or fashion accessories store as they tend to attract a similar demographic of customers, leading to better outcomes for all of them. Setting up a store at a mall or shopping complex alongside a host of other popular brands can actually enhance the quality and culture of your business.
- Accessibility: Your store should be easily accessed by both your customers and staff. An easily accessible and well-connected location would invariably magnetize a maximum number of customers. In the contemporary environment, no customer would want to spend hours commuting to a retail store that is located in a far-flung neighbourhood.
- Location perception: The reputation of a neighbourhood or locality plays an important role in attracting customers. Most people already have preconceived perceptions about certain neighbourhoods. Hence, it is important to select a commercial property located in a neighbourhood that is known for being posh and well-developed. This will help you to attract a good number of well-to-do customers.
The location of your retail store must be refined and inviting, depending on the type of store you are planning to open. It needs to create a positive association for customers so that they think highly of your business.
A number of high-end properties have been developed in recent years that would be ideal for setting up commercial shops in Gurgaon. Their key features include:
- These properties can be found in well-developed neighbourhoods like the region along the Golf course Extension road of Gurgaon. This region offers easy connectivity to the major areas of the city, as well as is well-connected to key NCR hubs through NH-8, Sohna Road, and Golf Course road. Being one of the most rapidly developing areas of the city, the Golf course Extension road of Gurgaon manages to magnetize a number of affluent customers.
- The visual appearance and aesthetics of retail space have a key role to play in attracting customers. Customers would want to visit shops that exude a vibrant aura, rather than stores that look drab and unimpressive. Prominent commercial properties for retail business in Gurgaon boasts of having impressive and sophisticated architecture, along with a distinct alluring appeal.
- Visibility is an important factor that needs to be considered when selecting a retail property. If the building cannot be properly seen from the road, or cannot be accessed with ease, it can lose out on a large number of prospective customers. Keeping this factor in mind, many commercial properties of Gurgaon are now developed with an adequate open area surrounding it. The open space makes the building stand out and grab the attention of prospective customers.
- Top retail projects of Gurgaon feature a special misting system that adds to the comfort of the customers. This system particularly comes as a huge help in the scorching summer heat and allows the visitors to enjoy a comfortable shopping experience for houses. Other conveniences present at these commercial projects include multiple dining venues and ample parking space.
To identify the perfect commercial project in Gurgaon to set up your retail store, it will be smart to visit the websites of some of the major real-estate developers of North India and subsequently check out their latest projects.