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Retail Marketplace

Source: Nielsen (RMP Opportunity Gap Analysis for Retail Stores 2015) shows the following retail opportunities:

$1,123,395,310 Opportunity

Total Retail Sales Including Eating and Drinking Places has a positive potential to grow by $1,123,395,310 within the 10 mile retail marketing trade area.

Classification
Opportunity
Food & Beverage
$187,322,303
- Grocery Stores
$95,681,123
- Beer, Wine & Liquor
$69,898,498
- Specialty Food
$21,742,682
General Merchandise
$168,373,530
- Other General Merchandise
$133,656,364
- Department Stores (Exclusive of Leased Departments)
$34,717,167
Foodservice & Drinking
$125,772,678
- Full Service Restaurants
$71,880,668
- Limited Service Restaurants
$33,343,143
- Special Foodservice
$13,173,377
Clothing
$46,213,823
- Family Clothing
$24,498,532
- Women's Clothing
$12,383,761
- Other Clothing Stores
$4,434,402
- Men's Clothing
$2,770,746
Sporting Goods, Hobby, Book, Music
$35,596,863
- Sporting Goods
$17,602,538
- Hobby, Toy & Game Stores
$10,234,912
- Book, Periodical & Music
$3,663,845
Electronics & Applicances
$17,513,130
Automotive Parts, Accessories & Tires
$13,097,207
Office Supplies & Stationery
$7,226,415


GAFO (General Merchandise, Apparel, Furniture and Other) represents sales at stores that sell merchandise normally sold in department stores. This category is not included in Total Retail Sales Including Eating and Drinking Places.

Overall, our retail marketing area is ripe for development and expansion. The area has large, open-market segments ready for development. This opportunity, coupled with the historically-themed architectural district, represents a bold, new opportunity for the future. The Transit North Committee, along with affected community building and planning departments, will work hand in hand with future developers to achieve a unique shopping district. Builders and developers, who embrace the historically-themed district, will be walked through the development process and enjoy a long and prosperous future within our community.

Nielsen data is derived from two major sources of information. The demand data is derived from the Consumer Expenditure Survey (CE Survey), which is fielded by the U.S. Bureau of Labor Statistics (BLS). The supply data is derived from the Census of Retail Trade (CET), which is made available by the U.S. Census.

The difference between demand and supply represents the opportunity gap or surplus available for each retail outlet in the specified reporting geography. When the demand is greater than (less than) the supply, there is an opportunity gap (surplus) for that retail outlet. For example, a positive value signifies an opportunity gap, while a negative value signifies a surplus.

Source: Nielsen Gap Opportunity 2015

$318,519,214 Opportunity

Classification
Opportunity
GAFO General Merchandise
$168,373,530
Clothing
$59,869,757
Furniture & Home Furnishings
$33,206,888
Electronic & Appliances
$17,513,130



 

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