The Retail Coach

The Retail Coach Exhibits and Presents at ICSC RECon Las Vegas

Mark Brooke — Fri, 18 May 2012 16:08:44 +0000

The Retail Coach’s company leadership will participate in the International Council of Shopping Center’s RECon Conference May 20-23 in Las Vegas with an exhibit at Booth #1014 in the Marketplace Mall North.

Additionally, Vice President Aaron Famer and Project Director Austin Farmer will present 10 Steps to Strengthen Your Sales Tax Base on Monday, May 21 at 4 p.m. in the Marketplace Mall Product Demonstration Theater.

“This is a very important event for our company,” said CEO C. Kelly Cofer. “We’re looking forward to our meetings with representatives from communities all over the U.S. as well as numerous retailers that are interested in our client communities.”

ICSC RECon Las Vegas is the global convention for the shopping center industry and provides networking, deal making and educational opportunities for more than 20,000 retail real estate professionals attending from around the world.

As the nation’s premier retail recruitment and retention consultant, The Retail Coach has helped economic development organizations, local municipalities and chambers of commerce expand retail in communities throughout the U.S. for more than 12 years. Customized strategies for each client community include guidance on participating in ICSC events.

“ICSC conferences such as RECon and the regional Deal Making events provide communities a prime opportunity to reach out to retailers and developers with their retail market information,” said Mr. Cofer.

The Retail Coach ensures that every client has the information retailers and developers seek including a defined Retail Trade Area, Retail Gap/Opportunity Analysis, demographic and psychographic studies; drive-time and license plate studies to determine the source of customers, and Retail Market Profiles.

Market Study Identifies $1.1 Billion in Possible Retail Revenue for Broken Arrow

Mark Brooke — Fri, 11 May 2012 19:29:51 +0000

Broken Arrow, the fourth largest city in Oklahoma and home to the state’s largest Bass Pro Shop, is leaking over $1.1 billion in retail sales annually and has a Retail Trade Area population of more than 203,000, according to a new market study.

The Retail Gap/Opportunity Analysis, which identified the $1.1 billion in retail opportunity, illuminates 46 retail categories that are being underserved in the Broken Arrow community. The retail segments with the greatest leakagein Broken Arrow include grocery, general merchandise, department/clothing stores, among other significant gaps.

A leakage occurs when Broken Arrow residents shop in surrounding communities and online, instead of their own hometown. This can represent a significant loss of sales tax revenue that could be retained and put to work in Broken Arrow.

The Retail Gap/Opportunity Analysis is part of a comprehensive study of the local retail market being performed for the Broken Arrow Economic Development Corporation by The Retail Coach, a national retail recruitment and development consulting firm. The firm has also completed a Retail Trade Area Analysis, which identified where Broken Arrow retailers and restaurants get their customers from on a daily basis. The population of this retail trade area exceeds 203,000. The Retail Coach has assisted more than 150 cities throughout the U.S. since 2000.

“This study confirms what many Broken Arrow leaders have known anecdotally, that there is a huge opportunity for the right retailers to serve the Broken Arrow market,” said Wes Smithwick,president and chief executive officer of the Broken Arrow Economic Development Corporation.

Broken Arrow has seen unprecedented growth in the last decade, with over 32% population growth and continues to set the pace in Northeastern Oklahoma for retail and residential development.The community received national acclaim as one of Money Magazine’s Top 100 Best Places to Live and Family Circle Magazine’s Top 25 Best Towns for Families. Business Week placed Broken Arrow on its list of Top 25 Most Affordable Suburbs in the nation, and the community has been included among the Top 25 safest in the nation, and the safest in Oklahoma.

“Broken Arrow is widely recognized as a great place to live and work,” said Smithwick. “We will be using this valuable data to recruit the type of lifestyle retailers and restaurants to make it an equally great place to shop.”

Executives from the Broken Arrow Economic Development Corporation will be attending the International Council of Shopping Center’s RECon: Global Real Estate Conference this May to meet with national and regional retailers and developers interested in Broken Arrow.

The Retail Coach Speaks at TEDC Spring Conference

Mark Brooke — Tue, 17 Apr 2012 21:25:25 +0000

The Retail Coach’s Vice President Aaron Famer and Project Director Austin Farmer will present Shale & Retail: Impact and Opportunity for Economic Development at the Texas Economic Development Council’s Spring Conference April 18-20 at the Bella Harbor Hilton in Rockwall, Texas.

“Exploration, drilling and related activity in the oil and gas industry including the Eagle Ford Shale production will have a remarkable impact on the regional and state economies for years to come,” said Aaron Farmer. “Already thousands of jobs and tens of billions of dollars in investment have been gained.”

The Retail Coach’s session will explore the multiplier effects through the economy and benefits to both state and local governments including enhanced retail sales and development. Attendees will leave the program informed about the oil and gas industry and equipped with strategies to pursue new opportunities for retail expansion in their communities.

The Texas Economic Development Council is an Austin-based, statewide, non-profit professional association dedicated to the development of economic and employment opportunities in Texas with more than 850 members from communities throughout the state.

Bishop, California: Helping Local Businesses Retain & Expand Sales

Mark Brooke — Mon, 02 Apr 2012 22:21:09 +0000

Challenge

“I’m going to Lancaster to grocery shop.”
“We’re going to Reno for our back-to-school clothes and supplies.”
“That store just caters to the tourists. Too expensive for us!”

Those statements have long been a part of daily conversation in Bishop, a town in the Eastern Sierra region of California. “Both the City of Bishop and the Chamber felt like we were definitely losing a lot of business to surrounding communities,” said Tawni Thomson, Executive Director of the Bishop Chamber of Commerce. “But we needed to quantify that loss to help our existing businesses better respond to consumer needs and keep sales tax dollars at home.”

Solution

The City of Bishop retained The Retail Coach to perform a comprehensive Retail Market Study that included a Retail Gap/Opportunity Analysis.

The Retail Coach determined that Bishop was losing more than $149 million in sales to other communities. Some of the retail sectors with the greatest leakages were groceries, lawn and garden, hardware, home electronics, home furnishings, new and used car dealerships and restaurants.

“We also identified a divide between the retail community and consumers in Bishop,” said C. Kelly Cofer, CEO of The Retail Coach. “There was a feeling that local businesses cater primarily to the seasonal tourist trade with more upscale, expensive offerings. This created dissatisfaction among Bishop’s residents who felt prices weren’t competitive, selections were limited and the customer service they received was poor.”

Outcome

While the findings caused discomfort in the community between business owners and consumers, the outcome has been positive. “The study opened a dialogue that we needed to have,” said Tawni. “While owners may not have liked what they heard at first, it was an eye opener. They realized that they needed to sharpen their game.”

This new awareness combined with an improving economy has triggered positive momentum in Bishop. Existing stores, restaurants, hotels and motels have invested in improvements such as new equipment, renovations and expanded product lines. New businesses like Holy Smoke Texas Style BBQ and Reagan’s Sporting Goods have also opened.

“Our intention was to use The Retail Coach’s study as a business retention tool,” said Tawni. “But another benefit is the communication tool it has proven to be for local property owners and real estate brokers. We have provided the Retail Coach report to the new owners of a long vacant shopping center in hopes that they will use the information to attract great tenants.”

Tawni has also shared the study with more than a dozen investors who traveled through Bishop and became interested in the community for future businesses. “I am fairly confident that within the next twelve months we will see new retailers and restaurants as a direct result of The Retail Coach’s work in Bishop.”

Austin Farmer To Speak at ARCIT Regional Summit

Mark Brooke — Wed, 28 Mar 2012 18:42:05 +0000

Austin Farmer, project director of The Retail Coach, is a featured speaker at the Association of Rural Communities in Texas (ARCIT) Regional Summit on March 30 in Nocona, Texas.

The program will focus on how to sustain a community during tough economic times. Farmer will share insight and strategies for strengthening the local sales tax base through retail recruitment and retention.

“I have already had several cities and counties say they are looking forward to Austin’s presentation and learning more about The Retail Coach,” said Donna Chatham, executive director of ARCIT. “Due to the exceptional speakers including Austin, we expect to reach full capacity at this event.”

ARCIT has more than 300 members from 500 rural cities, counties, economic development agencies and utility districts. The organization’s mission is to be a strong voice and resource promoting best practices in the delivery of public services that enhance the quality of life for all rural Texans. ARCIT works with state and federal agencies and legislative bodies dealing with a myriad of rural policies, issues and programs.

“The Retail Coach is proud to be involved with ARCIT, and we look forward to participating in another great event,” said Farmer.

A graduate of Texas A&M University in College Station, Farmer received both an undergraduate degree in Marketing and a certificate in Entrepreneurial Leadership from Mays Business School. He was named one of the Top 50 most influential leaders on campus.

Prior to joining The Retail Coach, Austin developed ecommerce strategies at GameStop Corp., the world’s largest video game and software retailer. He has been a guest lecturer at Texas A&M University’s Mays School of Business and speaker at industry events including the Texas Economic Development Corporation and the Texas Municipal League Annual Conferences. He is currently a member of the Board of Directors for The Community Storehouse in Keller, Texas.

The Retail Coach is a national retail recruitment and development consulting firm that has helped local governments, chambers of commerce and economic development organizations expand retail in more than 150 Texas communities and cities in 22 states during the past 12 years.

ICSC RECon 2012 Special Offer

Mark Brooke — Wed, 14 Mar 2012 18:32:37 +0000

Study to ID potential Windham, ME businesses

Mark Brooke — Thu, 08 Mar 2012 16:29:31 +0000

A consulting firm has been hired by the Town Council to analyze the town’s retail market.

As Published in The Portland Press Herald, Monday, March 5, 2012
By Leslie Bridgers – Staff Writer

Shoppers in North Windham have wondered why there isn’t a Target, an Olive Garden or more clothing and shoe stores in the region’s commercial hub, said Economic Development Director Tom Bartell. A new study aims to identify 30 businesses that would thrive in Windham.

The Retail Coach, a consulting firm based in Texas and Mississippi, was hired by the Town Council on Tuesday to analyze the town’s retail market. The firm proposes to evaluate the lifestyles and spending habits of the area’s residents and compile an inventory of stores and restaurants in the region to figure out what’s missing from Windham and what its market can support.

The study, a $38,500 expense, is also meant to help existing businesses better understand what their customers want to buy, Bartell said. Since the onset of the nation’s economic downturn, business owners have been wondering what they can do “to make their cash registers ring,” said Barbara Clark, executive director of the Sebago Lakes Region Chamber of Commerce.

Information about who’s shopping in Windham could help them adjust their product lines to capitalize on their customer base, she said. Windham was hit harder than most places by the recession, according to an analysis by Bartell. He showed that sales there dropped by 18 percent from 2006 to 2010, while sales statewide dropped by 4 percent during the same period.

Still, Windham’s vacancy rate last year was the lowest in Greater Portland, at 3.7 percent. The state’s was just over 6 percent, according to a presentation at the Maine Real Estate & Development Association conference last month.

Bartell said he believes the vacancy rate wasn’t dramatically affected by the downturn because Windham didn’t overbuild when the economy was stronger.
“There wasn’t wild speculation about retail growth in the area,” he said. The most recent analysis of Windham’s retail market was done in 1997 and updated in 2005, Bartell said. Since then, he said, more sophisticated methods for tracking sales have been developed, including using ZIP codes associated with credit card numbers to find out where shoppers live.

Using the demographics gathered, The Retail Coach proposes to put together packets targeted at specific companies. The packets would include maps of the companies’ other locations and the driving time between them. The firm’s work beyond the market analysis will include creating a resource guide to the town, with information about local developers, planned infrastructure projects and zoning requirements. The Retail Coach also plans to hold a business seminar for existing retailers. The ultimate goal of working with those store owners and attracting new ones is “to get the right mix” of products in the area, said Clark, “so people don’t have to go to Portland or the mall.”

The Retail Coach has helped local governments including the Town of Windham, chambers of commerce and economic development organizations expand retail in more than 150 Texas communities as well as cities throughout the United States during the past 12 years.

ARCIT Webinar Event

Mark Brooke — Sat, 25 Feb 2012 00:57:20 +0000

$1.46 Billion in Possible Retail Revenue for Richmond

Mark Brooke — Wed, 15 Feb 2012 13:13:09 +0000

Richmond has a Retail Trade Area of more than 145,743 consumers who are spending over $1.46 billion in other communities, according to a comprehensive study recently completed for the City of Richmond by The Retail Coach, a national retail recruitment and development consulting firm.

Several of the market segments losing the most to other communities were grocery and general merchandise stores, restaurants, and radio, television and home computer stores. These categories alone represented $622,220,780 in retail expenditures that could be kept within Richmond.

The Retail Trade Area Analysis, which determines where Richmond retailers and restaurants get their customers from on a daily basis, identified the trade area population of 145,743.

The Retail Gap/Opportunity Analysis illuminated which of 52 retail categories in the Richmond community are exhibiting deficiencies or leakages. “A leakage occurs when Richmond residents shop in surrounding communities, instead of their own hometown. That represents a significant amount of sales tax revenue that can be retained and put to work by the City of Richmond,” said Aaron Farmer, National Project Director of The Retail Coach.

Now The Retail Coach will work with the City to develop customized strategies for attracting retailers and restaurants that will entice residents to shop in their own community. Already City of Richmond officials attended the International Council of Shopping Centers (ICSC) convention last week in San Antonio with The Retail Coach, where they met with potential retailers and developers.

“In addition to recruiting new retail, we will look within the community for new entrepreneurs interested in opening a store or restaurant and help existing merchants expand their inventories to offer the products shoppers are leaving Richmond to buy,” said Mr. Farmer.

“This is a big step forward for Richmond,” said Terri Vela, City Manager of Richmond. “It is very exciting to see our potential for providing citizens the amenities and services that they expect and deserve. Expanding our sales tax revenue base by bringing quality retail into our City is vital to achieving the future we envision for Richmond.”

In addition to more than $1 billion in retail opportunities, Richmond boasts a vibrant Texas history and western culture that dates back to Stephen F. Austin’s settlement in 1822 on the banks of the Brazos River, which runs through the town and offers unique retail development opportunities. “We embrace our rich history, and look forward to new opportunities in Richmond,” said Vela. As the oldest community and the county seat of Fort Bend County, the City also has an established downtown district frequented by not only local residents, but the 1,500 county employees working in the new $74-million-dollar courthouse completed in July.

The Retail Coach has helped local governments including the City of Richmond, chambers of commerce and economic development organizations expand retail in more than 150 Texas communities as well as cities throughout the United States during the past 12 years.

Palestine is Prime for Retail Expansion

Mark Brooke — Fri, 27 Jan 2012 12:05:53 +0000

With a diversified economy and central location in Anderson County at U.S. Highways 79 and 287, the City of Palestine is ripe for new retail development.

In 2009, the City Council and Palestine Economic Development Corporation adopted a strategic plan that identified retail development and downtown revitalization as key goals, and City leaders are aggressively pursuing these growth opportunities.

“Palestine is unique in retail development because we have a variety of shopping experiences to offer,” said Wendy Ellis, executive director of the Palestine Economic Development Corporation. “Customers can take a leisurely stroll through our Main Street district and enjoy specialty boutique and antique shopping, or they can meet their day-to-day needs in one of the many modern day chain retailers on our loop or in our highway shopping areas.”

To achieve its retail development goals, the Palestine Economic Development Corporation has partnered with The Retail Coach, a national retail recruitment and development consulting firm that has assisted more than 150 cities in Texas and throughout the U.S. since 2000.

“Palestine definitely has the potential for retail expansion,” said Aaron Farmer, vice president of The Retail Coach. “Our initial assessment shows that the City is a hub trade area for many of the surrounding communities. This is an advantage for any retailer looking for a new opportunity.”

The Retail Coach team has already been in the community doing onsite research that includes conducting a license plate survey and retailer interviews. “We wanted to get a quick start on this project, which was approved December 19, so that we could also capture the holiday traffic and buying patterns of people in the trade area.”

The Retail Coach will complete a Retail Trade Area Determination, Retail Gap/Opportunity Analysis, Demographics and Psychographics Analysis, Retailer Match Analysis and Downtown Opportunity Analysis. Results of The Retail Coach’s studies will be used to identify opportunities for existing businesses in Palestine to expand, and help Palestine recruit retailers that are a good match for the City.

“We believe the data provided by The Retail Coach will give us invaluable insight into our trade area and customer base,” said Ms. Ellis. “Using this data, with The Retail Coach’s assistance, we intend to showcase all that we currently have to offer and contact a variety of restaurants and retailers to help them see why they want to build in Palestine.”