Case studies are gaining some serious traction in business today. They showcase work completed, objectives met, and experience - all of which are becoming increasingly more important to businesses and communities when selecting a partner and/or consultant.
Recruiting retail is competitive, so be sure that you are utilizing a consultant who has significant proof in the pudding. How does a combined $2.6 million in annual sales and property tax revenue sound? Well, let’s take a closer look at Hesperia, California.
The city is situated 30 miles north of Ontario, California and houses a population of 100,000+. City leaders identified the need for a retail recruitment consultant as three common and major challenges arose within the city:
- Lack of retail recruitment and retention
- Sales tax leakage to neighboring communities
- The struggle to attract retailers because household income levels were considered to be too low
Hesperia needed a positive message to give retailers – one that proved the city could light the way for retail development.
Just over one year after a completed assessment for Hesperia by a best-in-class analytics provider, several major retailers announced plans to locate to the city. Within a nine-year span, Hesperia recruited 27 retailers and restaurants, resulting in the addition of 1,250 jobs and $2.6 million in combined annual sales tax and property tax revenue.
So, why is recruiting retailers and restaurants so difficult? Because retail recruitment is competitive and cities often don’t have access to the market research needed to confidently pursue retailers, which is why savvy community leaders have found it advantageous to enlist the expertise of an analytics consultant. Such professionals not only offer invaluable data, but also persuasive marketing materials that prospective retailers will find beneficial when making their site selection decisions.
When talking to retailers, you’ve got to speak their language. That means that city leaders need to present data-backed pitches that will resonate with prospective businesses. When communities speak like retailers, they see results.
Having the right analytics can help you to effectively compete against surrounding communities, recruit retail, retain businesses, and implement the unique redevelopment strategies needed for your success.