Retail in Underserved Markets: Some Sound Advice

If your community is struggling to develop retail-shopping in an under-served inner city or rural market, I have just the report for you.

Last year, the International Council of Shopping Centers and Business for Social Responsibility prepared a report on this topic, offering some answers on how to cope with barriers encountered.

Here are the key issues that the report says impair retail development in these markets:

1. Crime/perceived crime
2. Insufficient concentration of the retailer’s target customer
3. Lack of consumer purchasing power for the retailer’s product
4. Potential shrinkage
5. Rent
6. Build out/rehabilitation costs
7. Site identification
8. Inadequate parking
9. Higher operating costs
10. Construction and development costs
11. Lack of amenities to attract out-of-neighborhood employees

Specific recommendations are made on how to tackle each of these issues. Go here to download the report.