Retail Strategy Presentation

insight and inspiration for community vitality


OUR GOAL: A VIBRANT RETAIL COMMUNITY

Downtown and highway districts are succeeding

Buildings are occupied by desirable uses

Community shopping needs are being met

Opportunities for business growth are captured

Retail and restaurant sales are increasing

People want to shop in the community


What sets our approach apart?

We do…

We do bring a team of seasoned professionals who have worked directly with retailers

We do take the time to know your community: its businesses, its market, and its competition

We do provide recommendations that are grounded in realistic retail performance criteria

We do provide strategies for community preparedness in addition to recruitment

We do not…

We do not rely on “canned” data and analysis

We do not focus our efforts solely on chain retail businesses

We do not ignore the opportunities to expand existing businesses

We do not ignore the community’s existing physical infrastructure

We do not leave you on your own once the project is completed


The process we follow

By knowing where we have been and where we are today, we can understand where we are headed, and take actions to reach an alternative vision of the future.


Document local and regional trends

General Merchandise Store Sales as a Percentage of All Retail and Food Service Sales

10.00%

10.50%

11.00%

11.50%

12.00%

12.50%

13.00%

13.50%

14.00%

1967

1968

1969

1970

1971

1972

1973

1974

1975

1976

1977

1978

1979

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

SIC-Based NAICS-Based

Provide an understanding of local market dynamicsIdentify opportunities and threats to local businesses and commercial areas

Changes in overall sales and sales by store typeChanges in the geographic distribution of salesChanges in the mix of retail and food service businessesChanges in the trade area demographicsChanges in the regional economy


Understanding the market

Define internal and external trade areasDocument existing conditions


Assess the opportunity

Market potential

What are the opportunities to expand the trade area?

What is the spending potential from all sources?

How much of the potential sales can we realistically expect to capture?

Physical environment

How do physical conditions such as the location of commercial district, transportation networks and infrastructure, existing building stock, and other factors influence what may be achievable?

Market position

Articulate a vision statement for each commercial area and the community as a whole, identifying its role in the marketplace


Identify the targets

Based on actual sales and market potentials

Build on existing market strengths

Capture unmet demand in the market

Reality test – can the expected sales support a store?

What is the value proposition – Why is the community an attractive place to open a new store?

Start-up business, independent business, or chain?

What preliminary steps will strengthen the community’s position?

District or site improvements

Public investments – facilities, streetscapes, infrastructure, etc.

Additional data collection, surveys


Determine the strategies

Organizational approaches

Business development

Competitive position

Market approaches

Recruitment and expansion

Business formation

Commercial district enhancement

Sites and buildings

Traffic flow and parking

Image and aesthetics

Promotional activities, marketing, and events


Concept 1: How do we choose where to shop?


Concept 2: What are the ways to grow business?

Expand the selection of products(convenience stores)

Sell to more people in the trade area(dollar stores)

Sell more of the same products(craft stores)

Expand the trade area(electronics stores)


Outline a plan of implementation

A matrix to guide implementation and assess progress

Action StepsResponsible Party Timeline

Resources Needed

Success Measures

GOAL: Conduct a recruitment campaign to attract new retailers to the city

1. Prepare marketing materials

Recruitment Committee

Complete by 1/2010

$500 + graphic services

Materials completed

2. Research and prioritize list of target businesses

Recruitment Committee

Complete by 1/2010

Volunteer support

List of viable targets

Detailed summary of actions to be takenAssignment of responsibility and timelinesEstimation of the resources required (and potential sources)Identification of measures to evaluate progress

We are committed to your successGive us a call with questions you may have


A little bit about Place Dynamics

Community Planning

Market Analysis

Economic Development

Facilitation

Training Programs

Entrepreneurial Development

More than 120 projects in over 20 states

Offices in Milwaukee and Denver

Founded in 2004


Questions

Real Estate

Retail Strategy Presentation