1 / 43

Downtown Logan Business Growth Analysis and Recommendations

Learn about findings and recommendations from a business growth analysis in Downtown Logan in March 2004. Discover sales trends, future plans, shopping preferences, strengths, weaknesses, and community perceptions.

hanesd
Download Presentation

Downtown Logan Business Growth Analysis and Recommendations

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Business Growth in Downtown Logan March 2004

  2. FINDINGS AND RECOMMENDATIONS 3 PROJECTS Sales leakage analysis (2001 and 2003) Community surveys – 2600 completed Downtown business owner surveys -- 78 completed

  3. FINDINGS CONGRATULATIONS! From 2001 to 2003, sales growth in Downtown outperformed sales growth in Logan Downtown: $209,000 increase Logan: $1.3 million decrease

  4. Historical Growth by City

  5. DOWNTOWN GROWTH: Clothing Infants Shoes Women’s Jewelry Florists Miscellaneous Retail Auto Repair

  6. DOWNTOWN DECLINES: Lumber and Hardware Entertainment Sporting Goods Books Furniture Computer/Software stores

  7. Average increase: 32 percent Average decrease: 18 percent

  8. FUTURE PLANS TO EXPAND

  9. Regional Retail Destination – Logan Capture Rates 221% 165% 110% 105% 170% 106% 162% 205% 56% 110% 38% 116% 43% Building and Garden General Merchandise Food Stores Motor Vehicles Apparel Furniture/Electronics Eating Out Miscellaneous Retail Hotels/Lodging Personal Services Business Services Auto and Other Repair Entertainment

  10. Regional Retail Destination – Logan and Cache Co. Capture Rates Building and Garden General Merchandise Food Stores Motor Vehicles Apparel Furniture/Electronics Eating Out Miscellaneous Retail Hotels/Lodging Personal Services Business Services Auto and Other Repair Entertainment 221% 165% 110% 105% 170% 106% 162% 205% 56% 110% 38% 116% 43% 127% 147% 83% 66% 71% 83% 85% 92% 33% 63% 44% 101% 68%

  11. Regional Retail Destination – Cache Co. Capture Rates and Sales Leakage Building and Garden General Merchandise Food Stores Motor Vehicles Apparel Furniture/Electronics Eating Out Miscellaneous Retail Hotels/Lodging Personal Services Business Services Auto and Other Repair Entertainment 127% 147% 83% 66% 71% 83% 85% 92% 33% 63% 44% 101% 68% -$21 M -$43 M -$ 8 M -$ 8 M -$10 M -$ 6 M -$ 3 M -$23 M -$ 8 M

  12. What Shopping Items Would You Most Like to be Able to Buy in Historic Downtown? • Women’s clothing • Shoes • Specialty clothing • Men’s clothing • Children’s clothing • Unique gifts • Crafts, gifts, souvenirs, antiques • Plants, flowers • Groceries • Home décor • Fast food • Restaurants • Sporting goods • Healthcare • Repair shops • Sewing/needlework • Music • Photography/camera • Furniture • Drugstore • Electronics/computers/software • Picture framing • National chains • Auto supply store

  13. Regional Retail Destination – Main Street as Percent of Logan Sales Building and Garden General Merchandise Food Stores Motor Vehicles Apparel Furniture/Electronics Eating Out Miscellaneous Retail Hotels/Lodging Personal Services Business Services Auto and Other Repair Entertainment 1% 0% 1% 1% 14% 14% 17% 18% 30% 35% 2% 8% 13%

  14. Regional Retail Destination – Main Street Miscellaneous Retail as Percent of Logan Sales Main Street As % of Logan Drug Stores Used Merchandise Sporting Goods Book Stores Stationery Jewelry Hobby, Toy & Game Gifts, Novelties Sewing, Needlework Florists 0% 41% 10% 25% 1% 70% 8% 37% 94% 48%

  15. Why Are People Going to Downtown Logan?

  16. Perceptions of Downtown Businesses with Increased v. Decreased Sales

  17. Where is the Community Shopping for Non-grocery Items?

  18. What are the Greatest Strengths of Shopping Outside of Historic Downtown Logan?

  19. Major Reason For Shopping at a Certain Location • Historic Downtown Logan • Familiarity with businesses • Layton Hills • Selection of Merchandise • Salt Lake City • Selection of Merchandise • Ogden/Riverdale • Selection of Merchandise • North of 4th North • Price/value

  20. IMPORTANCE FACTORS Frequent shoppers Quality of businesses Customer service Retail food availability Entertainment Seldom shoppers Broad selection Extended shopping hours Price/value Promotions Parking

  21. Why People Seldom or Never Shop Historic Downtown

  22. The Single Most Important Change That Could Improve Historic Downtown Parking – 52% More selection – 11% Improve traffic flow – 10% Restaurants – 6% Gathering place – 6% Renovation of store fronts – 6%

  23. What Are Historic Downtown Logan’s Strengths? Ambiance, atmosphere, unique, historic Selection/variety of stores Entertainment/theater Access/convenience Restaurants Customer Service Specialty stores Pedestrian friendly 44% 12% 9% 9% 9% 9% 8% 6%

  24. The Greatest Weaknesses of Historic Downtown Logan’s Business District Lack of parking – 54% Lack of selection – 30% Higher prices – 16%

  25. How Important Are These Events to Historic Downtown? 1 = not important; 5 = important

  26. CommunitySurvey – Logan Performance/Importance Excellent Customer Service Entertainment Quality of Business Price / Value Retail Food Availability Promotions Broad Selection of Merchandise Extended Shopping Hours Parking Poor Not Important Very Important

More Related