Pettis County Retail Trade Analysis

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Presentation transcript:

Pettis County Retail Trade Analysis December 27, 2000 Pettis County Advisory Panel Meeting Sedalia, MO

Why is the Retail Sector Important? Employment Retail Sales Local government sales tax revenues Local quality of life Firms’ location decisions

Retail Trade Analysis Total retail sales Per capita retail sales Analysis Tools Trade area capture Pull factor Potential sales Sales and analysis by detailed category

Total Retail Sales: Pettis County and Sedalia

Total Retail Sales: Pettis and surrounding counties

Per Capita Retail Sales: Pettis County and Missouri

Per Capita Retail Sales: Pettis and surrounding counties

Retail Trade Analysis: Trade Area Capture Measures the number of customers that are being served by the local retail sector Based on state average expenditures, adjusting for differences in per capita income Trade area capture is compared to county population If greater than population, then the retail sector is attracting customers from outside the county

Trade Area Capture: Pettis and surrounding counties

Retail Trade Analysis: Pull Factor Measures the portion of customers that a local area draws from outside its boundaries A pull factor greater than 1.0 indicates an “export” sector A pull factor less than 1.0 indicates an “import” sector

Pull Factor: Pettis and surrounding counties

Retail Trade Analysis: Potential Sales An estimate of the retail sales level that could be achieved if the retail sector captured 100 percent of the local market Compared to the actual retail sales level If potential sales are greater than the actual sales, the county is drawing customers from outside its boundary

Potential Sales: Pettis and surrounding counties

Detailed Retail Trade Sectors Building materials and garden supplies General merchandise stores Food stores Automotive dealers Gasoline service stations Apparel and accessory stores Furniture and home furnishings stores Eating and drinking places Miscellaneous retail Drug stores and proprietary stores Hotels and lodging places Auto repair services

Analysis by Category: Trade Area Capture

Analysis by Category: Pull Factor

Analysis by Category: Potential Sales

Issues to Consider Increasing county retail sales: Existing firms capture more retail dollars from local residents Existing firms increase sales to incommuters or tourists New retail firms fill a gap in the local retail sector Local demand for retail goods increases Changes occurring nationwide Concentration of sales in “super-centers” Catalog, mail-order, and internet shopping

More information: Retail Trade Analysis for Missouri and County Summaries www.cpac.missouri.edu

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