The importance of a local shop

February 26, 2015 Shopping

Shops are important for lots of reasons, but something that we very rarely consider (at least from the consumer point of view) is the geography and location of where a shop is placed. Yes it is important for the bottom line of the corporation involved; being in certain places can improve their revenue massively by increasing catchment area or by increasing the average income in that area. But what about the point of view of that area itself? What are the benefits that corporations can bestow on an area and on the people who live there?

The first possibility is making that area’s value increase, by knowing that a shop has opened it means that other companies start to keep an eye on how well the newest arrival does. If it does become a success then other companies will start to take note. Not only companies, but homeowners too start to take notice of affluent areas with new companies opening shops. That drives house prices up which, in turn, raises the wealth of the local people. It’s a small step; but an important one for local commerce.