Beaver Dam is partnering with The Retail Coach, the nation’s leading retail recruitment firm, to expand retail development and promote economic growth in the community. The Retail Coach will work to identify a balanced strategy to support and retain Beaver Dam’s independent and local retailers, while also seeking to introduce new and appropriate national brand retailers that fit the market needs.
The first step in the process is to determine Beaver Dam’s retail trade area, which is the boundary from which the city draws 80-85 percent of its primary consumers. Once the retail trade area is defined, The Retail Coach team will then conduct a gap/opportunity analysis to identify which retail sectors that the trade area consumers are leaving Beaver Dam to purchase. Essential to determining the types of retailers and restaurants to target for recruitment, the gap/opportunity analysis will identify existing retail gaps as either a surplus or a leakage. With that information, The Retail Coach team will then prepare retail profile reports and marketing tools to promote Beaver Dam proactively to retailers, grocers, restaurants and developers. As part of proactive retail recruitment, The Retail Coach will represent Beaver Dam at national and regional trade show conferences during the duration of the contract.
The Retail Coach believes that communities benefit from a healthy balance of national, regional, and independent retailers. Downtown districts are often considered the core of many communities. The Retail Coach will work with local leaders to assess Beaver Dam’s downtown as well as other commercial areas within the city and provide its shop owners with all data reports, including the gap/opportunity analysis, which will better help existing businesses understand the purchasing behavior of Beaver Dam’s primary consumer.
Press Release provided by Beaver Dam Economic Development