Branding for Downtown Success

In economic times like these, building excitement about downtown and cultivating local loyalty is more important than ever. Branding is an essential part of fostering the sense of community that keeps residents interested in downtown and that makes the community an attractive destination for visitors and potential residents. Good community branding can have a number of positive impacts: it can increase exposure for existing businesses and be a recruitment tool in building a more complimentary business mix. It can also boost retail traffic and attract residents to the downtown area. Successful branding can aid downtown and community organizations, increasing both volunteerism and giving, by increasing the credibility of revitalization efforts. Poorly executed branding, however, can have just the opposite effect. Therefore it is important to proceed carefully.

~Thumbnail taken by Jeff Miller of UW Wisconsin

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Supporting Entrepreneurship Downtown

An effective entrepreneurial development strategy involves creating a climate that is supportive of the entrepreneur. Downtown can be the central place for launching such efforts. The following are insights shared by Greg Wise of the University of Wisconsin-Extension and Todd Barman of the National Trust Main Street Center on how to make your downtown more supportive of entrepreneurship.

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Why Downtowns will Shine After the Economic Storm

While the depth and duration of the current recession is still uncertain, there are compelling reasons to be optimistic about downtown’s ability to rebound after the recession. There are clear opportunities for downtowns to take advantage of consumer, economic, and environmental trends that will direct activity back to our central business districts. While downtowns are all different, their leaders should consider the five opportunities found in this issue as they prepare for recovery

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Convenience as a Downtown Niche During Tough Economic Times

While current economic conditions are not as dire as the Great Depression, many downtown merchants are still struggling. As some stores are closing and vacancies are increasing, downtowns and their businesses should focus on opportunities to reposition themselves. One opportunity available to many downtowns is aligning their business mix with day-to-day convenience shopping, then connecting the concept of “convenience” with “value.”

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Lessons and Strategies of a Recession

This article is from an Iowa State University report that presents data and analysis for decision makers, retail business owners, and concerned residents to determine the local impacts of tough economic times and offer solutions and means of adapting. This issue focuses on the recession as it relates to consumer behavior.

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Helping Downtown Businesses During Difficult Economic Times

This article summarizes some recent insights from various downtown and business development professionals. Their recommendations often involve using this difficult period as an opportunity to implement innovative marketing and operational ideas on both a district and business level.

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Consumer Behavior During Difficult Economic Times

Many economic and retail experts predict a dismal holiday shopping season. An unstable economic environment is worsening as we head into the holiday season. The National Retail Federation expects holiday sales to grow at the slowest pace in years as shoppers worry about jobs, the housing market, stock market, and rising prices. America’s Research Group recently predicted that U.S. holiday retail sales will fall by 1 percent this year. This article summarizes insights from various retail analysts and explains why spending has slowed and what people are buying during these tough economic times.

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Identifying Businesses in Trouble During Difficult Economic Times

Critical to the success of any downtown are the very businesses that adorn its streets. Downtown business districts are defined by their small businesses, employing half of the nation’s workforce and often serving as the livelihood and cultural center of towns all over America. During the current economic crisis, an emphisis on recruiting new businesses to downtown districts has emerged; however, this strategy does no good if current businesses are struggling to survive. Those familiar with economic development stress that the primary importance should be ensuring the success of existing businesses.

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Key Businesses in Vibrant Tourism Towns

As part of a market study for the Rhinelander, Wisconsin, Main Street Program, eight vibrant comparison downtowns were identified to study their business mix and overall downtown dynamics. Downtown leaders from each community were asked to identify businesses that make significant contributions to downtown vitality. Interviews were conducted with owners and/or managers from each of these “key” businesses and short case studies were prepared for inclusion in the Innovative Downtown Business Database. The key businesses identified can be grouped into one of five broad categories. These groups are presented in this article.

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