E X E CUTIV E SUMMARY
Retail Market Demand. Market demand information is important for potential retailers to assess when considering moving into a new location. The information allows a business to understand who its potential consumers are. Leakage in an area indicates there is unmet demand in the area, which could be one positive indication for a business operating in that retail sector. A surplus indicates that the needs of consumers in that specific area are being met—and exceeded.
PROJECTED POPULATION GROWTH
YEAR 2018 21,927
YEAR 2023 23,142
LEAKAGE/SURPLUS FACTOR BY INDUSTRY GROUP, 2017
What is Leakage/Surplus Factor? Leakage/Surplus Factor is a snapshot of retail opportunity. It measures the relationship between supply and demand and ranges from +100 (total leakage) to -100 (total surplus). A positive value represents leakage of retail opportunity out of the trade area. A negative value represents a surplus of retail sales, a market where customers are drawn in from outside the trade area.
Automobile Dealers
CON TE X T
Other Motor Vehicle Dealers
Auto Parts, Accessories, Tires
Furniture
Home Furnishings
Electronics & Appliance
Bldg Material & Supplies
S UR P LU S
Grocery Stores
Specialty Food Stores
Beer, Wine & Liquor
Health & Personal Care Gasoline Stations Clothing Stores
Shoe Stores
ACTIVITIES
L EA KAG E
Lawn & Garden Supply
Jewelry, Luggage & Leather Book, Periodical & Music Department Stores
Other General Merchandise
Florists
Office, Stationery & Gifts
Used Merchandise Stores
• Three industry groups show retail surplus on the Hilltop: Gasoline stations, used merchandise stores, and direct selling establishments. • Nearly every industry group demonstrates leakage, with 15 experiencing “total leakage” of 100. External Retail Trends. Rapid changes in the retail sector are causing a major shift in how the built environment supports daily shopping needs throughout the United States. With the rise of online shopping and the growing dominance of regional shopping destinations, neighborhood amenities are becoming more scarce. One way to increase retail activity is to create inviting public spaces and attractive environments, encouraging shoppers to enjoy unique experiences. Restaurants and authentic food also represent an opportunity for future growth and should be leveraged on the Hilltop.
Other Miscellaneous Stores
E-shopping/Mail-Order
RECOMMENDATI O N S
Vending Machine Operators
Direct Selling Establishments Special Food Services
Drinking Places - Alcoholic Restaurants/Other Eating
-60
80
-40
-20
0
20
40
60
80
100
• 72% of households will be non-family by 2025 • 66% prefer attached or small lot housing • 3700% increase in web-based sales from 1999 to 2010