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Thornton - Northglenn is our trade area

Contributed by: DR. SEAN REIF D.C. on 4/9/2008

The trade area is the geographic area that provides the majority of the steady customers necessary to support a shopping center. The boundaries of the trade area are determined by a number of factors, including the TYPE of center, ACCESSIBILITY, physical barriers, location of COMPETING facilities, and limitations of driving distance and time.

New shopping centers DO NOT create NEW BUYING POWER; rather, they attract customers from existing districts or capture a portion of new purchasing power in a growing area. The extent of the area from which the center can be expected to draw customers and will be dependant on STATE, regional, and local advertising.

Characteristics of the trade area's population including the actual and potential for future growth. Building permit records show the number of NEW dwellings constructed since the Census year. Utility companies can be checked for New Meter Installations.

Within a shopping center's trade area, customers CLOSEST to the site will affect the center most strongly, OUR NEIGHBORS. Customer influence diminishes gradually as the distance INCREASES. Trade areas are usually divided into 3 categories or zones of influence, although the following general guidelines describing these categories will vary, depending on factors.

PRIMARY TRADE AREA - is the geographical area from which the center will derive its largest share of repeat sales. This area generally extends 3- to 5- miles from the site, is not longer than a 20-minute drive and draws 70 % - 80 % of the center's regular customers.

SECONDARY TRADE AREA - generates 15 % - 20 % of the center's total sales, of the average. Driving limits can be set at 20- to 30- minutes, or 5- to 10- miles.

THIRD DEGREE TRADE AREA - forms the broadest area from which it draws. Although they must travel greater distances, customers may be attracted to the center because of it's easy accessibility and provides parking convenience and different merchandise. Driving time from this area to the site can be set at 30- to 60- minutes, and may extend as far as 75 miles.

The population within 7- to 8- miles to the center accounts for 80 % of the sales volume. Natural barriers (lakes, rivers, hills, parks) and is open space, un-developable for residential use. The size of a trade area will depend on a site's accessibility from the streets and highways. Driving times, hazards, traffic lights, construction, railroads are factors of access.

New shopping centers will not attract ALL BUSINESS, but it will draw upon the increased population, patrons from existing stores, and customers seeking unique GOODS and SERVICES. A new center WILL bring out a redistribution of priorities. What IS and WHAT IS NOT available. People will travel to the largest place most easily reached, or NOT, each case is different. A BREAKING EVEN POINT does exist between retail shopping centers, and it involves human lives of business owners, for those that go broke.

Highly active centers have access points that are close to the traffic interchange points between expressways and freeways. A commercial center can incorporate civic facilities - offices, libraries, auditorium, police and fire stations as part of the planned center. Travel distances and routes will be short and routes will allow customers, employees and service vehicles to travel comfortably and easily.

Good visibility improves a center's accessibility. A shopper may overshoot the parking area if he has not seen the sign or center from the road.


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Submitted By: DR. SEAN REIF D.C.
posted on 4/9/2008 @ 6:53:59 PM
Rated Story
DEMOGRAPHICS OF THE DEVELOPMENT NEIGHBORHOOD Often the developer should provide data based on a 1-, 3-, and 5-mile radius measuring income population counts of households. Population by income, age, sex, owner occupied housing, appraisals, travel time to work, occupation of the population, educational levels, and number of vehicles per family.
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CONTRIBUTOR INFORMATION

DR. SEAN REIF D.C.

THORNTON , CO

DR. SEAN REIF D.C. has posted 998 stories and 1148 comments since joining on 9/14/2005. DR. SEAN REIF D.C. 's average story rating is 3.08.
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