Georgetown is in the midst of great economic growth, and retail is no exception. In order to gain a deeper understanding of how the retail merchandising industry is growing in Georgetown and how the city can help to strengthen the retail environment, the Economic Development Department partnered with Catalyst Commercial in the creation of a five-part retail study.
The results of this study give us a comprehensive perspective on both the local and regional retail climate and have been used to create a competitive retail strategy for Georgetown. The city is committed to ensuring continued retail health and vitality, and with the results of this thorough analysis, we are able to position future economic development with confidence.
Significant Demand for Retail
The retail study reveals that Georgetown has higher than average retail spending, and the city can support higher quality retail development or more outlets.
Currently, the retail demand in Georgetown is greatest for:
- Department stores
- General merchandise stores
- Limited service restaurants
- Specialty stores
One of the key reasons the retail and merchandising industry has such a great opportunity in Georgetown is due to its position as a regional retail destination. Of the customer patterns analyzed from Georgetown shopping centers, 39% of the samples originated from within the Georgetown city limits while 61% came from outside Georgetown.
The Retail Merchandising Plan contains an in-depth assessment of the market, trade areas, market demand, local and regional retail competition and potential retail targets for development. Find this study below along with other insights on the retail and merchandising industry in Georgetown.