Downtown Retail Business Comparison


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Preliminary comparision of a medium-sized city\'s downtown retail versus other comparable cities

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Downtown Retail Business Comparison

  1. 1. Preliminary Comparison of Retail Businesses of Downtown Knoxville, TN with Other Selected Similar Cities Compulsive Analysis Volume 4 George Scott February, 2010
  2. 2. Editor’s Notes <ul><li>Data from this abbreviated presentation is derived from: </li></ul><ul><ul><li>Reference USA drawn during February, 2010 </li></ul></ul><ul><ul><li>US Census Bureau rankings of Metropolitan Statistical Areas (MSA) in 2007 </li></ul></ul><ul><li>Comparison cities were selected to reflect similarities to Knoxville, TN based on size of MSA and judgment of Researcher </li></ul><ul><li>Half-mile radius of 4 cities were chosen from original 16 detailed as a preliminary sample based on concentration of retail businesses as shown in data from MS MapPoint, version 2006 </li></ul>
  3. 3. Knoxville Downtown Area of Study (Half-mile Radius of Market Square)
  4. 4. Source: ReferenceUSA
  5. 5. Selected Downtown Comparisons Source: ReferenceUSA
  6. 6. Asheville Downtown Zone of Study (Half-mile Radius of Walnut and Haywood)
  7. 7. Birmingham, AL Zone of Study (Half-mile Radius of 63 20th Street North)
  8. 8. Charleston, SC Zone of Study (Half-mile Radius of 241 King Street)
  9. 9. Lexington, KY Zone of Study (Half-mile Radius of 127 S. Limestone)
  10. 10. Comparison <ul><li>The data from the half-mile radius of each of four comparison cities was averaged </li></ul><ul><li>Knoxville’s half-mile downtown radius numbers were then compared to these averages </li></ul>
  11. 11. Source: ReferenceUSA Most Pronounced Differences These business groups are under-represented in Downtown Knoxville compared to the averaged retail business groups of the selected four cities
  12. 12. 4 Selected Cities’ ½ Mile Radius Have an Average of This Many More Stores in These Retail Groups Source: ReferenceUSA
  13. 13. Direct Comparison Knoxville to Averages of Selected Cities Source: ReferenceUSA None Operating in Downtown Knoxville Area of Study at this time
  14. 14. Preliminary Study Results <ul><li>Knoxville’s shortfall of Retail groups compared to other 4 cities: </li></ul><ul><ul><li>Apparel </li></ul></ul><ul><ul><li>Jewelry* </li></ul></ul><ul><ul><li>Books & News Stands* </li></ul></ul><ul><ul><li>Galleries </li></ul></ul><ul><ul><li>Antiques & Used Items </li></ul></ul><ul><ul><li>Taverns </li></ul></ul><ul><ul><li>Hobby, Crafts, Toys </li></ul></ul><ul><ul><li>Gifts & Cards </li></ul></ul><ul><ul><li>Home Furnishings </li></ul></ul><ul><ul><li>Sports Retail* </li></ul></ul><ul><ul><li>Specialty Food Retail </li></ul></ul><ul><ul><li>Food, Grocery, Convenience Stores </li></ul></ul>*Downtown Knoxville Study Radius has None at this time
  15. 16. Extending study area will give a more complete picture of Downtown
  16. 17. Recommendation <ul><li>Enlarge study area to 1-mile radius </li></ul><ul><ul><li>Compare to 6 similar cities </li></ul></ul><ul><ul><li>Include other business groups (Services, Manufacturing, etc.) </li></ul></ul><ul><ul><li>Compare demographics of residents (age, number of residents, income, education) within 2-mile radius </li></ul></ul><ul><li>Attract businesses using government incentives which meet criteria agreed upon by developers and community leaders (suggestions available on request) </li></ul>
  17. 18. Notes <ul><li>Previous presentations are available free on request. </li></ul><ul><ul><li>Previous Compulsive Analysis PowerPoints include: </li></ul></ul><ul><ul><ul><li>Power generation by country and energy source </li></ul></ul></ul><ul><ul><ul><li>International comparisons of selected Health Care statistics </li></ul></ul></ul><ul><ul><ul><li>Review of US Congressional Lobbying and Overview of Members’ Investments </li></ul></ul></ul><ul><li>Please distribute any of these slides as you wish, with attribution to </li></ul><ul><li>Contact us to commission a detailed study on any subject. </li></ul><ul><li>Email [email_address] to suggest additions to the email distribution list or to be removed from this list. </li></ul>-George Scott