Buxton Retail Study
Aberdeen, SD, announced its plans for growing its marketplace, by using the results of a retail study by Buxton Company. The Buxton Company delivered the results of its in-depth retail leakage and consumer propensity study in May 2013. The City of Aberdeen teamed up with the Aberdeen Area Chamber of Commerce, Aberdeen Area Convention and Visitors Bureau, Aberdeen Development Corporation, Aberdeen Downtown Association, and Absolutely!Aberdeen to do the study, and then develop a plan to act on the results.
Aberdeen’s purpose in doing the research was to identify core consumers in the market trade area, understand leakage and surpluses, and understand complementary retail uses. Now the community can use the resources to help local business make strategic merchandising decisions, and recapture any of its potential.
With this research and a well-executed implementation strategy, Aberdeen takes its next steps in further growing its regional economy and offerings for its growing population.
Aberdeen Trade Area
Aberdeen is a very large regional trade hub in many sectors, as it is the largest place between Fargo and Rapid City, and Fargo and Sioux Falls. Aberdeen is a regional hub for financial services, health care, manufacturing, technology, value-added agriculture, transportation, retail, and many other sectors.
The community’s first priority is to assist local businesses, local developers, and others to learn how to use the data to add to existing business offerings. Business retention and expansion will be the highest priority. From there, the community’s economic development engines will be armed with the kind of research and data with which other companies make their strategic location decisions.