Original Article

Journal of Retail & Leisure Property (2009) 8, 139–152. doi:10.1057/rlp.2009.5

Retail market estimation for strategic economic development

Stuart C Strother1, Barbara L Strother2 and Bryanna Martin3

Correspondence: Stuart C. Strother, Azusa Pacific University, 901 E. Alosta Avenue, Azusa, CA 91702, USA. E-mail: sstrother@apu.edu

1is Professor of Economics at Azusa Pacific University.

2is an adjunct professor of Business at Azusa Pacific University and a PhD student at International School of Management.

3is a student of international business at Azusa Pacific University.

Received 10 January 2009; Revised 10 January 2009.

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Abstract

In the pursuit of economic development, cities can gain significant advantages by assessing their retail market in relation to the local demand. Having the right composition of retail firms maximises economic strength and growth by minimising retail leakage. Four methods of estimating the size and scope of a city's retail market in relation to resident consumer demand are discussed and modelled in this paper using the city of Azusa, California as a case study. The first three estimation methods use government data and the fourth method uses surveys of institutionalised populations not reflected in government data because of their non-resident status. The resulting retail estimations are an effective tool for city planners and developers to recruit appropriate retailers to a city.

Keywords:

economic development, retail, business attraction, consumer demand

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Retail market estimation for strategic economic development

Journal of Retail and Leisure Property Original Article

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