Final answer:
Location selection is an important factor in opening a retail store due to the high costs and commitment of resources involved. Factors such as customer traffic, accessibility, and visibility can impact the success of the store. Considerations like land cost, proximity to suppliers and customers, transportation networks, and local government factors all play a role in location selection.
Step-by-step explanation:
Location selection is cited as an important factor in opening a retail store because it involves high costs and commits company resources for a period of time.
Selecting the right location for a retail store is crucial as it can impact customer traffic, accessibility, and visibility, which in turn affects sales and profitability. The cost of land, proximity to suppliers and customers, transportation networks, and local government factors are all considerations in the location selection process.