EDC touts retail growth at annual meeting
by Pat Kimbrough, Enterprise Staff Writer, November 7, 2019 [link]
High Point – Retail used to be a category of business beyond the scope of High Point’s economic development efforts, but that’s changed in the last five years.
At its annual meeting Wednesday, the High Point Economic Development Corp. highlighted the 36 stores, food and beverage establishments, grocers and other projects that have either opened or announced plans to do so in the city within the past year.
Converting the historic Lyles Chevrolet complex into a retail/services center is an innovative way of keeping up with consumer trends, according to Lacy Beasley, President of Retail Strategies, a consulting firm working with the city, who was the featured speaker at the meeting.
Retail used to be a category of business beyond the scope of High Point’s economic development efforts, but that’s changed in the last five years.
At its annual meeting Wednesday, the High Point Economic Development Corp. highlighted the 36 stores, food and beverage establishments, grocers and other projects that have either opened or announced plans to do so in the city within the past year.
I tell you, you’re doing it right. Thirty-six wins in one year, that’s amazing, Retail is economic development. The traditional thinking was, go after high-paying jobs and retail will follow. I really applaud the (EDC) for focusing on that.”
LACY BEASLEY, PRESIDENT, retail strategies
The demise of physical retail is often overstated, she said, pointing out that only 10 percent of overall retail sales are conducted online.
“It is a mindblowing stat that’s really shocking people,” Beasley said. “The last four years, you’ve seen the headlines — ‘retail apocalypse.’ Retail is not dead; it is changing.”
