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PLACE DYNAMICS LLC
Jamestown is North Dakota’s seventh-largest city and serves as a
regional retail and service center for an area up to fifty miles across.
In the past decade, though, the city’s market draw has diminished
as greater retail concentrations have grown in Bismarck and Fargo.
Although this Market Analysis and Retail Strategy focused on the downtown, it evaluated the retail and service sector of the entire community in the process. We found that the single greatest concern is the outflow of spending from the community, as people are willing to drive 100 miles to a larger city to shop. While there, they make many purchases that they could be making locally instead.
For the downtown to be successful, it will first be necessary to stem the outflow of consumers. This will mean attracting a home improvement center, expanding the Walmart to a supercenter, and filling the mall, where vacancies ran about 30 percent.
The impact of tourism was considered in the market analysis, as the City’s convention center is located downtown. Tourism was found to contribute only three percent of the City’s sales. The convention center does not draw in outside traffic, and hotel stays actually peak when the convention center is used the least.
Recommended uses for the downtown included home furnishings, shoes, sporting goods and hobbies, and restaurants. These should be located within a four-block section fo the downtown, with office and residential uses in the remaining areas.
The retail strategy assessed likely market capture and sales for stores in these categories, and included techniques to recruit independent and chain businesses suitable for the downtown.
Although this Market Analysis and Retail Strategy focused on the downtown, it evaluated the retail and service sector of the entire community in the process. We found that the single greatest concern is the outflow of spending from the community, as people are willing to drive 100 miles to a larger city to shop. While there, they make many purchases that they could be making locally instead.
For the downtown to be successful, it will first be necessary to stem the outflow of consumers. This will mean attracting a home improvement center, expanding the Walmart to a supercenter, and filling the mall, where vacancies ran about 30 percent.
The impact of tourism was considered in the market analysis, as the City’s convention center is located downtown. Tourism was found to contribute only three percent of the City’s sales. The convention center does not draw in outside traffic, and hotel stays actually peak when the convention center is used the least.
Recommended uses for the downtown included home furnishings, shoes, sporting goods and hobbies, and restaurants. These should be located within a four-block section fo the downtown, with office and residential uses in the remaining areas.
The retail strategy assessed likely market capture and sales for stores in these categories, and included techniques to recruit independent and chain businesses suitable for the downtown.
3090 S. Country Lane
New Berlin, WI 53146
(262) 510-2131
New Berlin, WI 53146
(262) 510-2131
Market Analysis and Development Strategy
Jamestown, North Dakota
Jamestown, North Dakota