A retail sector analysis examines the retail supply and demand within a region. If the supply is higher than the demand, then there is surplus and the region has the capacity to attract non-local shoppers. If the demand is greater than the supply, then residents’ retail needs are not met within the region. This means that there is retail leakage and residents will spend money outside the area.

The retail study allows to understand the strengths and weaknesses of the local retail sector, to see if the residents’ retail needs are met, to identify leakages and surplus and to determine possible opportunities for retail development.

However, not every leakage or surplus is an opportunity. There are situations in which there is a strong competitor or a cluster of businesses in a neighboring community that dominates the market for a specific product or service. For example, a cluster of big appliance and furniture stores or an area with restaurants that attracts costumers from several communities. 

To help determine the potential for development in the retail industry, the study looks also at commuting patterns and at local tapestry segmentation and buying habits. Additionally, GIS analysis is incorporated to visualize retail businesses in the region and neighboring communities.

Services and fees vary.

Questions? Contact Research Director Simona Balazs at (859) 218-5764.