Lincoln Development Authority hears results of Georgia Southern retail analysis
This article originally appeared in the Lincoln Journal on January 29, 2015.
The “Lincoln County Retail Gap Analysis” was presented to the Lincoln County Development Authority at the group’s regular meeting held Tuesday, January 20.
The study was conducted by the Georgia Southern University College of Business Administration’s Bureau of Business Research and Economic Development (BBRED).
Funding for the project was provided by the United States Community Adjustment and Investment Program.
The goal of the initiative was to pinpoint those sectors of the business community that are ready for expansion. The study identified “gaps,” where the county and the City of Lincolnton are experiencing a need for growth, and “surpluses,” which delineate areas where the community is exceeding in fulfilling demands.
In addition to the city and county, the researchers also looked at a 20-minute drive-time radius and a 30-mile radius from the center of the city to represent the distance that the core market could use to attract customers to patronize local businesses. The radius distance has a total population of 214,283.
Other factors included demographics, economic market/conditions, consumer spending, and psychographic data, which is used to build a profile of the interests, attitudes, and values present in a target region.
Representing Georgia Southern at the meeting was research specialist Ben McKay.
Posted in Research