The Retail Coach has presented the initial phase of its analysis to Brownwood's Retail Advisory Committee. According to the company's report, actual sales in Brownwood's Retail Trade Area verses opportunity in the market show a short-fall of $422 million, according to the Brownwood Area Chamber of Commerce.
The report indicates that there are an estimated 82,225 people who reside in Brownwood's Retail Trade Area. Based on state averages, this population would ordinarily spend $705 million in retail goods and services each year. Actual sales locally, however, are only $283 million annually. Some of the categories with the greatest "leakage" or opportunity for expansion include eating places, clothing, footwear, electronics and hobby or game shops.
"We are excited to have the first phase of this report completed," said Brownwood Mayor Stephen Haynes. "It is great to have an outside consultant confirm that our trade territory can support more retail sales. We hope the report will generate a lot of interest in Brownwood among developers and retailers looking for new growth opportunities."
The Retail Coach will make a public presentation of their findings on October 21, 2011 at the Brownwood Area Chamber of Commerce monthly luncheon. The luncheon will be held at the Brownwood Country Club from 11:30 am to 1 pm.
The Retail Coach will give an overview of the study during a lunch-hour presentation. A more detailed analysis will continue at 1:15 pm after the lunch presentation. A complete copy of the study and all of its findings will be available following the meeting. A reservation for the presentation and luncheon can be made through the Chamber of Commerce's website at www.brownwoodchamber.org or by calling the Chamber at (325) 646-9535.
The Retail Coach, a national retail recruitment and development consulting firm, was recently retained by the City of Brownwood, the Brownwood Economic Development Corporation, and the Brownwood Area Chamber of Commerce.