The Gillespie County Economic Development Commission, Fredericksburg Convention and Visitor Bureau, and The City of Fredericksburg have partnered with The Retail Coach, a national retail development firm to conduct a market analysis of Fredericksburg’s trade areas. The Retail Coach is working closely with the three groups to identify market-feasible local and regional retail opportunities and develop an actionable Retail Development Strategy for the community.
Cell Phone Analysis
The Retail Coach recently completed a Cell Phone Analysis to help better understand who the Fredericksburg consumer is, where they come from, and what retail goods and services they purchase. Using mobile phone technology, The Retail Coach is able to determine the home locations of consumers shopping in Fredericksburg. This data is very valuable in understanding where the Fredericksburg consumer comes from, how often they shop in Fredericksburg, and what retailers and restaurants they frequent.
Retail Gap/Opportunity Analysis
The team has determined a Retail Gap/Opportunity Analysis to help determine which dominant retail goods consumers are leaving Fredericksburg to purchase. This is essential in evaluating missed market opportunities that might be better captured by existing local retailers and also identifying which types of retailers could be successful in the market.
Tourism plays a large role in Fredericksburg. The Retail Coach will work closely with Fredericksburg and existing businesses on strategies to better capture these potential customers in the community.
Local Business Workshops
“We are big believers that in order for a community to be successful from a retail perspective, there must be a good mix of local, regional, and national retailers,” said Farmer. “We will be hosting local retail workshops with existing businesses and potential entrepreneurs on this analysis and how to be successful in marketing to the primary Fredericksburg consumer and visitors.” Two identical, free workshops have been scheduled for June. The first will take place on Wednesday, June 13th from 8:30am to 9:30am and the second will take place on Tuesday, June 19th from 6pm to 7pm. Both workshops will take place in the H-E-B Room at the Hill Country University Center, located at 2818 E. U.S. Hwy 290.
About The Retail Coach
The Retail Coach, founded in 2000 in Tupelo, Mississippi, is a national retail consulting, market research and development firm that combines strategy, technology, and creative expertise to develop and deliver high-impact retail recruitment and development strategies to local governments, chambers of commerce, and economic development organizations. With offices in Texas and Mississippi, The Retail Coach offers a fully customized system of products and services that better enable communities to maximize their retail development potential. Their experience in leading municipalities in over 450 communities in 31 states will create better, stronger places to live, work, and play.