Tupelo, MS, September 22, 2014…The City of Batesville has abundant growth opportunities and is working to attract new retail and restaurant options that will revitalize portions of the community and expand choices for residents, employees, and visitors.
The Retail Coach team has completed its research and analysis phase to support the City’s growth initiative, which includes an area market analysis, competition assessment, Retail Trade Area determination, demographic and psychographic profiles, and Retail Gap/Opportunity Analysis. Regional Project Director, Joseph Koon, recently met with the City Board to provide an update for the City on the firm’s findings.
In its initial research, The Retail Coach identified that the Batesville trade area is missing out on more than $873 million in sales across all sectors, including more than $70 million in the restaurant category. The leakage is occurring because Batesville residents and prospective consumers are spending outside of Batesville’s Retail Trade Area.
This spending could be retained with the addition and expansion of the retailer and restaurant choices currently not available, and The Retail Coach has identified a list of thirty (30) retailers and restaurants that could meet this demand.
The Retail Coach team is currently in the process of contacting these retail prospects as well as developers active in the Southeast to present Batesville’s opportunities for expansion.
Workshop for Existing Businesses
The Retail Coach team also conducted its first workshop for existing businesses and entrepreneurs at City hall last week. “We had a great turn out,” said Koon. “An important part of our work is to share our findings to help businesses already in Batesville become more successful through improved merchandising and marketing.”
More of The Retail Coach’s findings and strategies will be presented to local businesses during a second free workshop that will be announced by the City of Batesville in the near future.
Additionally, The Retail Coach is actively marketing the Batesville community and specific sites to retailers and developers at International Council of Shopping Center (ICSC) trades shows throughout the country.
The Retail Coach has assisted local governments, chambers of commerce and economic development organizations in more than 250 cities throughout the United States during the past 15 years to successfully recruit retail.
For more information about the City of Batesville, visit www.cityofbatesvillems.com.
For more information about The Retail Coach, visit www.theretailcoach.net.