What is the Store Location setting used for?

Store Location records the one country your business operates from. Open Settings → Store Settings → Store Location, choose your Store Located Country and click Save.

It's used in two places:

• Manage Tax always offers this country when you add tax rates, even if it isn't in your Selling Location list.
• The setup checklist's Store location step is ticked once it's set.

You normally pick it during onboarding, where it also sets your store's default currency. Changing it here later doesn't change the currency; use Manage Currency for that.

It isn't your address or a pickup point. Your full business address goes in Store Address, and physical shops or pickup points are set under Inventory → Store Locations.