What types of businesses would you need/want/desire to see in Downtown Fond du Lac? According to a recent Esri Retail MarketPlace Profile for Fond du Lac, several business segments show great growth potential in the downtown Fond du Lac area.
Esri is a web-based paid subscription that applies geographic information system (GIS) technology to demographic, consumer spending, and other business data. This creates a wide variety of reports and maps to help make data driven decisions. The Esri Retail MarketPlace Profile uses the methodology of measuring activity in a retail market by measuring demand and supply. An analysis of expected consumer spending reveals market demand, or Retail Potential. Consumer spending estimates are derived from the Bureau of Labor Statistics' annual consumer spending surveys. By examining business revenues, or Retail Sales, it measures retail supply. Retail sales estimates are derived from the Census of Retail Trade combined with data from Dun and Bradstreet and Bureau of Labor Statistics. The Retail Gap represents the difference between demand (Retail Potential) and supply (Retail Sales).
The Esri data was also calculated on a one, five and thirty mile radius of downtown Fond du Lac. A business' marketable radius is dependent on the type of business. For example, a coffee shop might have a market radius of one mile, while a conference center might have a market radius of 200 miles.
The data shows great potential for a downtown grocery store, showing a demand of $25,273,552 with supply of $2,867,708. The demand gap is $22,405,844. This is not surprising due to the continual growth in supply of downtown housing units.
Other industry segments with large demand gaps in the downtown district include:
? General Merchandise Stores (including department stores) show a demand of $14,684,102 vs. a supply of $6,007,000. The demand gap is $8,677,102.
? Limited-Service Eating Places (those with no wait staff) show a demand of $12,148,243 vs. supply of $10,548,119. The demand gap is $1,600,125
? Special Food Services (food service contractors, caterers, mobile food services) show a demand of $1,220,495 vs. supply of $265,952. The demand gap is $954,539
? Motor Vehicle Dealers show a demand gap of $2,236,588.
? Electronics & Appliance Stores show a demand gap of $3,089,935
? Building Materials, Garden Equipment and Supply Stores show a demand gap of $3,183,326
It is important to know that statistics are subjective. There might be existing comparable businesses in an industry segment, but less desirable to the consumer due to a variety of factors including merchandise assortment, store appeal, customer service, and operating hours. This results in unmet consumer demand.
To request a copy of this Esri report along with information on locating your business in Downtown Fond du Lac, contact Amy Hansen, executive director of the Downtown Fond du Lac Partnership at email@example.com or 322-2006.
The Downtown Fond du Lac Partnership, Inc. is a non-profit organization dedicated to bringing people, activity, business and a thriving civic life back to the heart of Fond du Lac. The DFP serves 214 properties with 295 businesses.
For more information on Downtown Fond du Lac visit: www.down townfdl.com