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Retail Strategies: consultants tell Cleveland leaders growth projections, retail gaps and site needs
Summary
Retail Strategies, hired to recruit retailers to Cleveland, presented trade-area data and a prospect strategy to the EDC, saying population and growth projections make the market attractive while second‑generation space and franchisee availability remain constraints.
Retail Strategies, a retail-recruitment consultant, told the City of Cleveland Economic Development Corporation on Aug. (August meeting) that the city’s trade area includes roughly 110,000 people and shows a projected five-year growth rate of 11.13 percent, a figure the firm said supports retailer interest.
The firm’s portfolio director, Madison Neil, said the team uses drive-time and mobile-device data to build a trade-area polygon and to show retailers where customers come from. “This heat map … shows someone walks in the front door of that store with a phone in their pocket,” Neil said, explaining how consultants map visitor origins to support…
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