Recognizing the need to understand the retail segment of our business community, in March 2010, the Economic Development Authority Board (EDA) awarded a contract to Buxton Company to create a Retail Development Strategy to maximize retail potential for the city. The strategy will incorporate existing retail operations, and provide insight on ways to protect, enhance and expand retail development.
The scope of services under the contract included the initial step of assessing 3 retail trade areas:
Patrick Henry retail corridor
Upper Warwick Boulevard retail corridor
It also included the delivery of Marketing Pursuit Packages, Strategic Household Assessments and Consumer Propensity Reports for phase 1 of the Retail Development Strategy, which incorporates the Warwick Boulevard area; the same deliverables will be prepared for phase 2 (Southeast) and phase 3 (Patrick Henry).
EDA and city staff continue to work with Buxton in the development of analyses, customer profiles, recommended target and custom marketing packages and approaches to assist in expansion and enhancement of existing retail and recruitment of new retail. A major objective of the retail strategy is to help develop staff proficiencies in a business segment that has not traditionally been a targeted industry or primary focus.