A RETAIL MARKET ANALYSIS FOR ELIZABETHPORT


Report to Brand New Day, Inc.

May 29, 1996

INVENTORY


Methodology

Once we identified the market areas, we conducted a physical inventory of existing retail and other services in Elizabethport. The inventory enables us to examine the existing businesses in Elizabethport and prepare a preliminary assessment of what goods and services the neighborhood lacks. Moreover, the inventory is helpful in estimating how much of the community's demand for goods and services is met by resident businesses. An inventory summary of our total research area is illustrated in Table 2. Summaries of each of our primary and secondary market areas can be found in Appendix 3. We gathered the names, addresses and descriptions of more than 162 retail and service establishments (see Appendix 3).

Despite our conscientious efforts, the accuracy of our inventory is limited. In conducting the inventory we faced two main obstacles. First, we were unable to determine whether or not some businesses were in operation. During our fieldwork hours, numerous establishments were closed. While some were obviously no longer in operation, the status of others was indeterminable. For instance, many shops looked as if they might have been shut down, yet they had new exterior signs. Although we made callbacks to many of these establishments and checked the local phone books for listings, the status of some businesses remains unknown. Second, although we noted the quality and selection of goods and services the Elizabethport businesses offered, the inventory did not allow us to accurately asses how well existing businesses meet community needs.

Table 2. Inventory Summary
Type of Retail Number of Stores
Food - At Home
Bakery5(1)*
Candy Store2
Fish market2
Grocery24
     large1
     medium3
     small (convenience store/deli)20
Food - Away From Home
     eat-in/take-out 15(5)
     take-out only 1
Personal Care Products & Services
Barber shop/Beauty shop 10(1)
Drug store/Pharmacy 4
Apparel & Apparel Services
Apparel store 1
Dry cleaning 2
Laundromat7
Shoe repair0
Shoe store0
Sporting goods0
Type of Retail Number of Stores
Transportation
Auto repair14(2)
Gas station2
Household Furnishings & Equipment
Appliances, radio, and TV1
Furniture store2
Hardware store1
Other
Bank 2
Book and stationery store 0
Department store (large)0
Funeral home 2
Gift shop1
Liquor store 4
Record store 0
Variety store1
* Numbers in parentheses indicate the number of establishments which may not be in operation

Inventory Findings

In our entire research area, we counted 162 retail and service establishments. Over half of these establishments (86) are located in the primary market area, area "A". Forty-seven establishments are located in the secondary market area, area "C", and 29 in secondary market area, area "B". Judging from the numbers, one might surmise that there is a fair amount of business activity in Elizabethport, however, a closer examination of the inventory or better yet, a walk around the neighborhood, gives a different picture.

There is an enormous demand left unmet by neighborhood retailers. Although it is almost impossible for a neighborhood to be completely self-sustaining, Elizabethport residents face difficulties purchasing the most basic goods and services locally. In Elizabethport there are no book stores, department stores, record stores, shoe repairs, shoe stores or sporting goods stores. Moreover, in an area of roughly fifty blocks and over 11,000 people there is only one supermarket, hardware store, apparel store, appliance store, gift shop and variety store. In contrast, auto repair shops and corner groceries (convenience store/delis) abound. Although there are four drug store/pharmacies, 20 convenience store/delis and one variety store, there are no establishments at which to purchase a wide range of personal care products or household supplies such as cosmetics or cleaning supplies.


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