Successful retailers focused on tourists have accommodated the unique shopping needs of the visitor and have made shopping away from home easier. This article summarizes examples identified through interviews with over 100 retailers in the Midwest. They reflect business operations in a variety of small communities, with varying levels of tourism activity.
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Many communities are turning to the Main Street concept as an alternative to shopping centers. Private and public sector leaders are working together to recreate new town centers. The following is a summary of an article by Charles Lockwood (July 1998), as well as other sources that describe this bold new approach in “suburban renewal.”
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Many small independent retailers facing more demanding consumers and increased competition from retail giants are struggling to stay in business. George Whalen, of Retail Management Consultants at the recent National Small Stores Institute meeting in St. Charles, Illinois shared ten reasons why some small stores have difficulties.
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Consumer group and goods/services niches farely commonly found in business districts. This issue discusses how to find specific niches appropriate for your community and how to assess their viability. The ideas were drawn from by N. David Milder.
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A niche is a specialization that allows a business district to gain dominance in certain categories of the retail market. This article provides examples of how some communities have developed a niche focusing on particular goods and services. Many of these ideas were drawn from a new book titled by N. David Milder.
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By one estimate, 17 million households will spend over $20 billion shopping online in 1999. Are there some things happening that all retailers should be noticing? The following realities and predictions reported by Cyberatlas provide several opinions on the state of e-commerce, some likely futures, and its potential impact on all retailers.
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A review of business establishment data in Wisconsin indicates that there are significantly more retailers in tourism communities and that these businesses represent a broad mix of retail categories. This issue highlights some of the preliminary findings from current UW-Extension research on retail and tourism in Wisconsin.
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Communities can influence retail investment decisions by drawing attention to overlooked local market characteristics. The key is to demonstrate that the community is a profitable place to do business. The following article describes how economic development professionals can identify potential retail sectors, compiling information of interest to retail prospects, and marketing to those prospects.
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Wisconsin Department of Tourism research indicates that shopping is one of the most popular activities among tourists. More is spent on retail goods than lodging and transportation combined. The following article describes six principles can help identify the right mix of services, facilities and tenants in a tourist-based retail center.
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Colleges and college towns are recognizing student-spending potential and are offering new retail opportunities. Using a 1998 database of businesses the mix of retail in selected “college town” business districts was analyzed and compared to the total retail mix for the state of Wisconsin. This article draws conclusions from that analysis.
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