The previous edition of “Let’s Talk Business” summarized many of the pros and cons of chain stores locating in downtowns. After weighing these pros and cons, a downtown organization may want to consider either active pursuit of chain stores or have methods for deterring their development. Accordingly, the following discussion presents some strategies for attracting or deterring chain businesses.
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A recent edition of Main Street News written by staff of the National Main Street Center discusses an ongoing debate over the appropriateness of chains and franchises locating in downtowns and on main streets. The debate is often characterized as local, independent stores versus nationally based businesses (such as Blockbuster, Starbucks, or Walgreens). There are many additional considerations for communities debating the recruitment of chains to their downtown. This article summarizes some of the current trends regarding chains, as well as some advantages and disadvantages of chains in a downtown setting.
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The Wisconsin Main Street Program invited Kent Burnes, of Burnes Consulting in California to speak about how small downtown businesses should approach the ever-growing competitive retail environment. This article is based in large part on Mr. Burnes’ presentation and summarizes the competitive strengths and weaknesses of national discounters. This is a necessary first-step in developing strategies for co-existence.
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The growing presence of big-box retailers in small towns has sparked considerable controversy. A recent PBS documentary, “Store Wars: When Wal-Mart Comes to Town” by Micha Peled highlights this debate in Ashland, Virginia. The community’s split over a proposed Wal-Mart highlights many of the issues Ashland faced. However, the dispute is not limited to Ashland and is occurring throughout the United States and the world. Drawn from this documentary, the following discussion summarizes many of the issues communities face when Wal-Mart comes to town.
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After reading and hearing about economic development proposals for a while, one gets the impression that retail is often an automatic component of downtown development. If a major industry or company moves into downtown, merchants aren’t too far behind. If a city engages in revitalization efforts or streetscaping projects, open-air cafes, taverns and clothes stores will follow. All of this done with the hope that more jobs and more revenue will be generated. This article summarizes Christopher Boring’s thoughts on what type of businesses will flourish in downtowns.
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An empty department store downtown or on the edge of a small community sends a message that something in the local economy isn’t working right. Whether it be excessive retail competition or declining market demand, the ghostly appearance of an underutilized building is something most residents simply don’t want to see in their town. In January, a meeting was held by the University of Wisconsin-Extension, Calumet County to explore the reuse of a Pamida store that recently closed in New Holstein. Case studies were presented on how downtown
and suburban department store buildings have been reused in Wisconsin and elsewhere in the country. The discussion is summarized in this article.
At the recent National Small Stores Institute in Nashville, Bill Pearson, a retail consultant and presenter at the conference, described the continuing plight of small retailers. However, more than simply detailing the challenges small independent retailers are facing, Pearson shared several basic strategies that he finds most successful independent retailers are embracing. He suggests that those independents that survive and prosper will be those who: 1) recognize and act on their competitive strengths and weaknesses; 2) understand who their customers are and what they want; and 3) identify and fill a viable niche in the marketplace.
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Sears, Kmart, Footlocker, Walgreens and other national retailers are moving back to the inner-city. They are building new stores, renovating old locations, and making money doing it. As President of the Chicago Federal Reserve Bank said in reference to U.S. inner-cities: “You don’t have to cross the International Date Line to find an emerging market. We have some right under our noses.” This article discusses how the untapped retail potential in U.S. inner-cities represents one of the biggest market opportunities in the world.
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A mixed-use development is a real estate project that contains two or more uses in a single facility or development area. It typically involves a dense and efficient use of land, consistent with principles of “smart growth.” It is different from single-use, detached facilities that are service inefficient and lead to sprawl and congestion. Mixed-use projects are gaining popularity in both large and small cities. Retail and service businesses are often an important component in these developments. This article summarizes recent discussions on mixeduse development as reported in Community Dividend, a publication of the Federal Reserve Bank of Minneapolis.
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One smart growth strategy is to encourage better use of existing retail facilities to reduce the need for new construction on the edge of town. This can be done by improving the competitiveness of existing centers through their renovation and repositioning. Communities are reinvesting dollars to make these centers more contemporary, physically attractive and shopper friendly. Changes are being made to tenant mix, architecture, landscaping, parking and signage. The intent is to stay current with fresh concepts, shopper amenities and design improvements.
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