To begin the CommunityID process, the Temple Chamber of Commerce selected two sites to be analyzed for possible retail development or revitalization. Buxton has examined the retail potential of the two sites based on the following analyses:
· A primary drive trade area was delineated for each site
· A secondary trade area was delineated for Temple
· The customers in each trade area were segmented according to buying habits and lifestyles
· A profile of Temple’s customers within each of the three trade areas was developed
· The surplus and leakage for 11 major store types and 49 minor store types were determined for the trade area
The purpose of these analyses is to develop Temple's Customer Profile. The Customer Profile is a snapshot of the customers that reside in Temple’s trade areas. Even though these consumers are complex and diverse, Buxton is able to capture and catalogue the extent to which potential demand for a retailer's goods and services are being met within the trade area. By overlaying
Temple's Customer Profile with over 4,500 retail matching profiles in Buxton’s proprietary database, we are able to identify major categories of retail that are candidates for location in Temple. This matching provides the basis for determining Temple’s viability to attract retailers and restaurants and forms the basis for Buxton’s recommendations and conclusions. With this analysis and Buxton’s recommendations, Temple can make a more informed
decision about investments in infrastructure and can focus resources on areas of higher retail development potential.
Please click below for the full Retail Site Assessment.
