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Buxton Retail StudyTuesday, April 15, 2008 “The study’s primary goal was to develop a set of numbers that will allow the City and commercial developers to overcome the perception of Mesquite as ‘too small’ for national retailers and restaurant chains”, according to City Business Development Manager Bill Chernock, “and it does this by creating a profile of the spending habits of the community and matching that profile to those of the retailers we are trying to attract. Once matched, we have a list of businesses we can approach who have already been successful in locations of a similar size that also have a similar profile.” The profile is created by reviewing millions of purchases made by consumers in the area. That information is used to categorize the consumers into one of 66 ‘psychographic’ categories. When the percentages of consumers in each category are laid out on a graph, a profile, like the lines on an EKG, is created. That is the pattern that is matched against those of the retailers and restaurants successful locations. While that information will be used to pursue new businesses, existing businesses can benefit from the information as well. The information available on the web site includes a supply/demand analysis, which shows categories of businesses that are underserved in Mesquite. Retailers can look at that information and make choices about the inventory they carry and how competitive their segment is. The profiles of the psychographic segments give a great deal of insight into what kind of products the people in this market respond to. There are profiles of the year round resident, the snowbirds, the residents of the surrounding area and the frequent visitor contained in the report. Retailers can examine those preferences and gain additional insight into what their potential customers do when spending their time and money. Businesses with follow up questions or seeking additional report data can contact Bill Chernock in the City’s Economic Development Department at 346-5295, ext 304. |