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From arnett muldrow, published July 9, 2014.
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Downtown Beaufort, SCRetail Market Analysis Presentation
July 9, 2014
Today’s PresentationIntroduction
“What We Heard”
Stakeholder Input
Zip Code Survey
Retail Market Analysis
Trade Area Definition
Trade Area Demographics
Trade Area Retail Patterns
Observations & Next Steps
IntroductionFirm Profile
Relevant Experience
Local Knowledge
Project Goals & Objectives
Prior Studies
“what we heard”Stakeholder Input
Six Roundtable & Sixteen Individual Interviews
Online Consumer Survey
Zip Code Survey of Customers
InterviewsRoundtable & Individual Interviews
Downtown Business Owners
Elected Officials
Investors & Developers
Tourism & Hospitality
Interest Groups
Downtown Beaufort Market Analysis Please take part in one of our roundtable sessions.
Your feedback is important!
Tuesday, June 10 10:30am: Historic Beaufort Foundation
Beaufort Branch Library 1st floor Meeting Room
311 Scott Street, Downtown Beaufort
1:30pm: Media Beaufort Branch Library 1st floor Meeting Room
311 Scott Street, Downtown Beaufort
3:00pm: Tourism Beaufort Branch Library 1st floor Meeting Room
311 Scott Street, Downtown Beaufort
5:15pm: Downtown Merchants Beaufort Branch Library 1st floor Meeting Room
311 Scott Street, Downtown Beaufort
Wednesday, June 11 9:00am: Arts
Chamber Meeting Room Chamber Meeting Room, The Carnegie Building
701 Craven Street, Downtown Beaufort
5:15pm: Public Input Session (preliminary results from online survey)
Beaufort Branch Library 1st floor Meeting Room
311 Scott Street, Downtown Beaufort
Questions: LaNelle Fabian, Main Street Beaufort, USA 843.525.6644, [email protected]
InterviewsStrengths
History, architecture, beauty, character
Location, proximity to water
Downtown events, festivals
High quality of stores, products
Diverse, strong visitor markets (military, bus, day-trip, ICW, Fripp, HHI, etc.)
Strong local partnerships
interviewsWeaknesses
Downtown business hours
Downtown parking
Shortage of “everyday” activities, shopping for local market, families
Perception that “Downtown isn’t for me”
interviewsOpportunities
Grow, broaden local market
Coordination between lodging, retail
Leverage outdoors, Waterfront Park
Potential day dock, ICW traffic
Structured parking
Capitalize on untapped potential visitor attractions, markets
interviewsThreats
Stagnant population growth
Center of retail gravity has shifted to southern Beaufort County
Attitudes re: Downtown, new development
Natural limit to growth, expansion
Barriers to market entry
online survey14 Questions
May-June 2014
879 Responses
online survey!
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online survey
online survey
online surveyx
online surveyx
online survey
online survey
online survey
online survey
zip code survey42 Participating Businesses *
4,968 Recorded Visits
1,293 Unique US Zip Codes
47 US States
8 Foreign Countries
IN#
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IN#
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IN#
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Zip Code Survey of Customers- Beaufort, South Carolina #
Business Name: May 16-23, 2014 Instructions
1. Tally the zip code below for each customer. If you run out of space in any row, please continue the tally below that row. For Beaufort zip codes, please ask customer if they live in or out of city limits.
2. Please record zip codes that are not listed below in the space provided on the next page.
For more information or questions, feel free to e-mail Tee Coker at [email protected]
#29902 Beaufort
29906 Beaufort
29907 Beaufort
Nearby Zip Codes 29935 Port Royal
29920 St. Helena Island
29940 Seabrook
29941 Sheldon #
# 29936 Ridgeland
29909 Okatie
Arnett Muldrow & Associates
OUT#
OUT#
OUT#
zip code survey
zip code survey
zip code survey
zip code survey
zip code surveySummary
22% from residents of 3 Beaufort zip codes
Additional 20% from rest of Beaufort County
13% from rest of South Carolina
14% from Georgia, Florida, North Carolina
30% from rest of US
1% overseas
trade area definition
trade area definitionx
demographic Profile
demographic Profile
demographic Profile
demographic Profile
market segmentation
opportunity gap
opportunity gap
opportunity gap
opportunity gapPrimary Trade Area (PTA)
2013 Population: 44,048
2013 Retail Sales: $448 Million
2013 Retail Spend: $681 Million
Secondary Trade Area (STA)
2013 Population: 45,410
2013 Retail Sales: $477 Million
2013 Retail Spend: $784 Million
opportunity gapPTA Retail Leakage: $234 Million (2013)
STA Retail Leakage: $307 Million (2013)
Combined Trade Area Leakage: $541 Million (2013)
Key retail categories Key Categories for Downtown
Specialty Grocery
Furniture
Beer, Wine, Liquor
Family Clothing
Hobby, Toy, & Games
Sporting Goods
downtown retail
overall observationsEmerging Strategies
Retention & Recruitment
Growing the Local Market
Extending the Visitor Experience
Tying It All Together
next stepsFollow-Up Meetings/Interviews
Strategy Development
Retail Analysis Presentation/Report
Final Presentation/Report
Strategy Board
QUESTIONS?
THANK YOU!