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4) Business demographics, i.e. locating a particular business withing a certain "social class" of an area. As an easy example, you wouldn't locate a Bently dealer in small town America. In other words, locating near your customers and why it's important.
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That's an interesting one. It made me think of Walmart actually. I live in a suburban area that is mostly middle/upper middle class people. Our surrounding city has a population around 150,000. We already had a Walmart in another part of town that is more lower/middle class and does very well. Well in the area I live, we had a JC Penney move out, and Walmart just opened up a new store in that spot. Before it opened there was a story in the paper how a lot of people were planning to boycot the store. And thusfar, the store does not seem very busy at all. My MIL works there and says business is not doing well so far. I'm curious if it's because of the established Meijer that is across the street, or if it's a demographic issue.