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UDI CAPITAL REGION
OCTOBER 3, 2017
UDI CAPITAL REGION OCTOBER 3, 2017 CITY OF DETROIT NEIGHBORHOOD - - PowerPoint PPT Presentation
UDI CAPITAL REGION OCTOBER 3, 2017 CITY OF DETROIT NEIGHBORHOOD - - PowerPoint PPT Presentation
UDI CAPITAL REGION OCTOBER 3, 2017 CITY OF DETROIT NEIGHBORHOOD RETAIL OPPORTUNITY STUDY CLIENT ASK Analyze retail market conditions and opportunities for Detroits key commercial corridors. OUTCOME Project in progress. Completed a
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CITY OF DETROIT NEIGHBORHOOD RETAIL OPPORTUNITY STUDY
CLIENT ASK
Analyze retail market conditions and
- pportunities for Detroit’s key commercial
corridors.
OUTCOME
Project in progress. Completed a full-scale retail inventory, market analysis, and a series of stakeholder engagement meetings.
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FLINT, MI: GROCERY MARKET STUDY
CLIENT ASK
Create a retail strategy to reverse the “Food Desert” condition of the city following the water crisis.
OUTCOME
The Flint & Genesee Chamber of Commerce will administer a $55,000 grant to assist existing grocery stores to ensure higher quality of food offerings.
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UNIVERSITY OF PENNSYLVANIA
CLIENT ASK
Create a retail strategy for the University’s
- n- and off-campus holdings to be
implemented into a new retail master plan.
OUTCOME
A retail market analysis, space assessment, and recommendations including the impacts
- n food trucks and dining halls on adjacent
retail demand.
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BOSTON SEAPORT DISTRICT RETAIL STRATEGY
CLIENT ASK
Research, analysis, and recommendations for the development of the Seaport World Trade Center in Boston’s Seaport District.
OUTCOME
A retail market analysis that considers the existing retail inventory, existing and planned development, and their populations in the rapidly changing retail landscape of the Boston Seaport.
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The Future
- f Retail
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LOOK TO THE PAST…
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RETAIL CATEGORIES
Neighborhood Goods & Services Food & Beverage General Merchandise, Apparel, Furnishings, & Other
- Grocery
- Pharmacy
- Florist
- Dry Cleaners
- Nail/Hair Salon
- Restaurants
- Bars
- Coffee Shops
- Juice Bars
- Ice Cream Parlor
- Department Stores
- Jewelry Stores
- Electronic Stores
- Card Stores
- Home Décor Stores
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Retail as Amenity Retail as Commerce Retail as Place-Creation Retail as Identity Retail as $$$ Generator PURPOSE OF RETAIL
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WHAT DOES YOUR NEIGHBORHOOD WANT? Who wants a bakery in our neighborhood?
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Universe of Possibilities
Market Analysis Potential Site Conditions
Retail strategy that can be successfully implemented.
OUR PROCESS
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equilibrium
RETAIL ECONOMICS
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Total Amount of Customers and Spending Total Amount and Type of Retail Establishments
DEMAND/SUPPLY
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HOW MUCH IS TOO MUCH?
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DENSITY AND RETAIL
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Total Population 322,919 Total HHs 145,385 Median Age 42.9 Bachelor Degree or higher 31.7%
DENSITY AND VICTORIA+
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Grocery Stores:
- Food purchased from stores
spending: $1.2 billion annually
- Average store size: 1,650 sm
- Average sales per square
meter: $6,000/sm SUPPORTABLE RETAIL SPACE – VICTORIA+ EDITION
- Est. 115 grocery stores
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Restaurants:
- Food purchased from stores
spending: $600 million annually
- Average store size: 200 sm
- Average sales per square
meter: $5,000/sm SUPPORTABLE RETAIL SPACE – VICTORIA+ EDITION
- Est. 550 restaurants & cafes
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Dining out experiences have exceeded spending on goods. Not so in B.C.
IN THE US…
B.C. grocery $ doubles restaurant $ (2016)
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WHAT DENSITY MEANS TO RETAIL National retailers need density to plug into a delivery infrastructure. BUT…
Makes room for local stores Mitigates ecommerce impacts
www.forbes.com
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HOUSEHOLD RETAIL SPENDING
55% 25% 20%
3%
(vs. 9% US) Ecommerce General Merchandise Food + Beverage Neighborhood Goods + Services
Source: Statistics Canada, Reuters
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ROLE OF LOCAL RETAILERS IN VICTORIA ECOSYSTEM
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Tourism! Keeping money in the local economy Authenticity Be careful of GAFO volatility…
THE RETURN OF REGIONALISM
www.tourismvictoria.com
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Neighborhood Goods & Services + Food & Beverage BROAD BASE OF APPEAL
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THE FUTURE OF RETAIL
Stores as warehouses Flexible retail design Innovation in delivery systems Amazon as the Blob? The end of community?
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THE FUTURE OF RETAIL
NOW, MORE THAN EVER:
+ Right Tenant + Right Place + Right Timing + Right Design + Right Amount
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THE FUTURE OF RETAIL
IN THE CAPITAL REGION
Growing international interest… Ecommerce increasingly undermines GAFO businesses Local tenants embrace bigger role in community building Authentic tourism Flexible design Go out to eat!
www.barkingdogstudio.ca
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THANK YOU
www.streetsense.com / DC / MD / NY / SF