Question

What should be included in a market study that supports public or private retail business development goals and location decisions?

Accepted Answer

An evaluation of existing and future land uses and demographics within an applicable market area, with an emphasis on consumer spending potential and characteristics, market segmentation, and analysis of any existing market gaps and retail leakage

Answer

An adaptive econometric model with input and outputs that can be modified to test various future scenarios for changes in consumer preferences within an identified retail market area

Answer

An analysis of the design features and architectural building styles within an identified retail market area, for the purpose of ensuring proposed new retail development will match or complement existing land uses in the market area

Answer

An analysis of supply chain, delivery, and employment factors that will reasonably assure the retail site locations within identified retail market area will have adequate access to deliveries, utility service, and an adequate labor supply

What should be included in a market study that supports public or private retail business development goals and location decisions?

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