May 26, 2021
Arkansas Municipal League’s City and Town Magazine
Community Development Institute Podcast
Retail recruitment critical for community development
One commonality among all communities is that we want our communities to grow, thrive and prosper. To achieve that vision, each community sets its own unique community and economic development goals. Yet, retail development and recruitment are critical pieces of the puzzle in every community.
Consider these statistics:
- One in four jobs in America are retail related.
- 98 percent of small businesses are retail related.
- 78 percent of consumers prefer to shop in-store.
- A typical quick service restaurant (QSR) brings 15 jobs to a community
Retail is a foundational piece of the economic ecosystem in our communities, and it’s often a place to begin to build your local economy. But if you want to get serious about retail development and recruitment, where do you start?
TIPS & TRICKS
Podcast
Retail tactics for community development and thriving on the Community Development Institute
ARTICLE
Retail Strategies is a retail recruitment and downtown revitalization firm headquartered in the South. Clay Craft, vice president of client services, and Jenn Gregory, president of downtown strategies, shared with us some tips and tricks cities and towns can use to bolster retail recruitment and downtown development:
Focus on increasing quality of life and place.
In simple terms: Make your community a better place to live. Know where your community stands in education, crime rates, infrastructure and other key areas. Focus on beautification, walkability, connectivity and accessibility, especially in your downtown area. Business owners want to invest in places where they and their families can live, work and play. You need to entice them to come to your community.
Create residential density.
Consider zoning that supports mixed-use development. Imagine spaces in your community where people work, shop and eat in the same place creating a 24/7 ecosystem of commerce and activity. If mixed-use development is not the right fit for your community, focus on connecting neighborhoods to surrounding downtown or commerce-rich areas.
Know your market.
Identify your assets and positive attributes and communicate them effectively. Familiarize yourself with the language that national retailers speak. They want to know specifics: your population numbers, the traffic count in specific areas of town throughout the day, and household income.
Read the Article on Page 38
Arkansas Municipal League’s City and Town Magazine
More Retail Articles by Retail Strategies
- Where growth is headed: Economic development and retail expansion in small towns
Retail follows rooftops, and rooftops follow jobs. That order matters for every community working to attract new stores and restaurants, because the strongest retail recruitment story usually starts with an economic development win. When a manufacturer expands, a distribution center breaks ground or a new neighborhood gets approved, retailers notice. The past few months delivered… Read more: Where growth is headed: Economic development and retail expansion in small towns - Smaller boxes, smaller towns: Two retail trends rural and mid-sized communities can use now
Our team spends time in communities all over the country, working with the brokers, developers, and retailers who shape what gets built and where. Those conversations give us a clear view of where national brands are headed. Here’s what stands out right now, and what it means for retail recruitment in small towns. Trend one… Read more: Smaller boxes, smaller towns: Two retail trends rural and mid-sized communities can use now - How Retail Recruitment Works: From Market Analysis to New Store Openings
For many community leaders, retail recruitment can feel like a mystery. Residents ask why a favorite restaurant isn’t in town. City councils want to see new retail development. Developers are looking for tenants. Yet many communities aren’t sure what actually happens behind the scenes to attract new retailers. The reality is that successful retail recruitment… Read more: How Retail Recruitment Works: From Market Analysis to New Store Openings - Retail for Every Season: How Destination Communities Can Build Year-Round Economic Vitality
Tourism Brings Visitors. Retail Creates Staying Power. For destination communities, success is often measured by peak season performance. Hotels fill up. Restaurants stay busy. Downtown sidewalks are crowded. Sales tax collections have risen. But what happens when the season ends? That question was the focus of Retail Strategies’ recent webinar, Retail for Every Season: Building Year-Round Vitality in… Read more: Retail for Every Season: How Destination Communities Can Build Year-Round Economic Vitality
