Wikstrom Economic & Planning Consultants, Inc. Logan March 2004 Business Growth in Downtown Logan
Wikstrom Economic & Planning Consultants, Inc. Logan 3 PROJECTS FINDINGS AND RECOMMENDATIONS Sales leakage analysis (2001 and 2003) Community surveys – 2600 completed Downtown business owner surveys completed
Wikstrom Economic & Planning Consultants, Inc. Logan From 2001 to 2003, sales growth in Downtown outperformed sales growth in Logan FINDINGS Downtown: $209,000 increase Logan: $1.3 million decrease CONGRATULATIONS!
Wikstrom Economic & Planning Consultants, Inc. Logan Historical Growth by City
Wikstrom Economic & Planning Consultants, Inc. Logan DOWNTOWN GROWTH: Clothing Infants Shoes Women’s Jewelry Florists Miscellaneous Retail Auto Repair
Wikstrom Economic & Planning Consultants, Inc. Logan DOWNTOWN DECLINES: Lumber and Hardware Entertainment Sporting Goods Books Furniture Computer/Software stores
Wikstrom Economic & Planning Consultants, Inc. Logan Average increase: 32 percent Average decrease: 18 percent
Wikstrom Economic & Planning Consultants, Inc. Logan FUTURE PLANS TO EXPAND
Wikstrom Economic & Planning Consultants, Inc. Logan Regional Retail Destination – Logan Capture Rates Building and Garden General Merchandise Food Stores Motor Vehicles Apparel Furniture/Electronics Eating Out Miscellaneous Retail Hotels/Lodging Personal Services Business Services Auto and Other Repair Entertainment 221% 165% 110% 105% 170% 106% 162% 205% 56% 110% 38% 116% 43%
Wikstrom Economic & Planning Consultants, Inc. Logan Regional Retail Destination – Logan and Cache Co. Capture Rates Building and Garden General Merchandise Food Stores Motor Vehicles Apparel Furniture/Electronics Eating Out Miscellaneous Retail Hotels/Lodging Personal Services Business Services Auto and Other Repair Entertainment 221% 165% 110% 105% 170% 106% 162% 205% 56% 110% 38% 116% 43% 127% 147% 83% 66% 71% 83% 85% 92% 33% 63% 44% 101% 68%
Wikstrom Economic & Planning Consultants, Inc. Logan Regional Retail Destination – Cache Co. Capture Rates and Sales Leakage Building and Garden General Merchandise Food Stores Motor Vehicles Apparel Furniture/Electronics Eating Out Miscellaneous Retail Hotels/Lodging Personal Services Business Services Auto and Other Repair Entertainment 127% 147% 83% 66% 71% 83% 85% 92% 33% 63% 44% 101% 68% -$21 M -$43 M -$ 8 M -$10 M -$ 6 M -$ 3 M -$23 M -$ 8 M
Wikstrom Economic & Planning Consultants, Inc. Logan What Shopping Items Would You Most Like to be Able to Buy in Historic Downtown? Women’s clothing Shoes Specialty clothing Men’s clothing Children’s clothing Unique gifts Crafts, gifts, souvenirs, antiques Plants, flowers Groceries Home décor Fast food Restaurants Sporting goods Healthcare Repair shops Sewing/needlework Music Photography/camera Furniture Drugstore Electronics/computers/software Picture framing National chains Auto supply store
Wikstrom Economic & Planning Consultants, Inc. Logan Regional Retail Destination – Main Street as Percent of Logan Sales Building and Garden General Merchandise Food Stores Motor Vehicles Apparel Furniture/Electronics Eating Out Miscellaneous Retail Hotels/Lodging Personal Services Business Services Auto and Other Repair Entertainment 1% 0% 1% 14% 17% 18% 30% 35% 2% 8% 13%
Wikstrom Economic & Planning Consultants, Inc. Logan Regional Retail Destination – Main Street Miscellaneous Retail as Percent of Logan Sales Drug Stores Used Merchandise Sporting Goods Book Stores Stationery Jewelry Hobby, Toy & Game Gifts, Novelties Sewing, Needlework Florists 0% 41% 10% 25% 1% 70% 8% 37% 94% 48% Main Street As % of Logan
Wikstrom Economic & Planning Consultants, Inc. Logan Why Are People Going to Downtown Logan?
Wikstrom Economic & Planning Consultants, Inc. Logan Perceptions of Downtown Businesses with Increased v. Decreased Sales
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan Where is the Community Shopping for Non-grocery Items?
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan What are the Greatest Strengths of Shopping Outside of Historic Downtown Logan?
Wikstrom Economic & Planning Consultants, Inc. Logan Major Reason For Shopping at a Certain Location Historic Downtown Logan Familiarity with businesses Layton Hills Selection of Merchandise Salt Lake City Selection of Merchandise Ogden/Riverdale Selection of Merchandise North of 4 th North Price/value
Wikstrom Economic & Planning Consultants, Inc. Logan Frequent shoppers Seldom shoppers Broad selection Extended shopping hours Price/value Promotions Parking Quality of businesses Customer service Retail food availability Entertainment IMPORTANCE FACTORS
Wikstrom Economic & Planning Consultants, Inc. Logan Why People Seldom or Never Shop Historic Downtown
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan The Single Most Important Change That Could Improve Historic Downtown Parking – 52% More selection – 11% Improve traffic flow – 10% Restaurants – 6% Gathering place – 6% Renovation of store fronts – 6%
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan What Are Historic Downtown Logan’s Strengths? Ambiance, atmosphere, unique, historic Selection/variety of stores Entertainment/theater Access/convenience Restaurants Customer Service Specialty stores Pedestrian friendly 44% 12% 9% 8% 6%
Wikstrom Economic & Planning Consultants, Inc. Logan The Greatest Weaknesses of Historic Downtown Logan’s Business District Lack of parking – 54% Lack of selection – 30% Higher prices – 16%
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan How Important Are These Events to Historic Downtown? 1 = not important; 5 = important
Wikstrom Economic & Planning Consultants, Inc. Logan
Wikstrom Economic & Planning Consultants, Inc. Logan Community Survey – Logan Performance/Importance Very ImportantNot Important Poor Excellent Entertainment Retail Food Availability Promotions Extended Shopping Hours Parking Customer Service Quality of Business Broad Selection of Merchandise Price / Value