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Village of Grayslake Retail Market Development Plan

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Village of Grayslake Retail Market Development Plan Village of Grayslake Retail Market Development Plan October 2009 Contents Executive Summary ................................................................................................................................................................................................................ 3 Survey................................................................................................................................................................................................................................... 11 Methodology .................................................................................................................................................................................................................... 11 Question 1: In an average month, how many times do you dine in these commercial areas?....................................................................................... 13 Question 2: In an average month, how many times do you make a purchase in these commercial areas? .................................................................. 15 Question 7: In an average week, how much would you estimate that your household spends on meals away from home? ....................................... 18 Question 8: How would the addition of these restaurants affect the amount you spend in Downtown Grayslake? .................................................... 19 Question 11: When is it most convenient for you to shop? ............................................................................................................................................ 20 Question 3: When shopping in Downtown Grayslake, how often do you: ..................................................................................................................... 21 Question 4: How would the addition of these stores and services affect the amount that you spend in Downtown Grayslake? ................................ 22 Question 5: In the last month, what have you purchased that you wish you could have bought in Downtown Grayslake? ......................................... 24 Question 6: Please provide the name and location of the store where you made that purchase. ................................................................................ 25 Question 9: In the past month, what non-Downtown Grayslake restaurants did you patronize that you believe would be good additions to Downtown Grayslake? ..................................................................................................................................................................................................... 28 Question 10: Rate your overall satisfaction with these factors as they apply to Downtown Grayslake: ........................................................................ 32 Sample Characteristics ..................................................................................................................................................................................................... 34 Market Share Analysis.......................................................................................................................................................................................................... 37 Introduction ..................................................................................................................................................................................................................... 37 Methodology .................................................................................................................................................................................................................... 37 Sales by Community, Store, and Store Category ............................................................................................................................................................. 37 Total Available Sales ........................................................................................................................................................................................................ 39 Community-Wide Market Share Analysis ........................................................................................................................................................................ 40 Convenience and Destination Markets ............................................................................................................................................................................ 42 1 Village of Grayslake Retail Market Development Plan September 2009 Downtown Market Share Analysis ................................................................................................................................................................................... 43 Grayslake Peer Communities ............................................................................................................................................................................................... 47 Methodology .................................................................................................................................................................................................................... 47 Peer Community Characteristics ...................................................................................................................................................................................... 48 Peer Community Observations ........................................................................................................................................................................................ 50 Peer Community Real Estate Characteristics ................................................................................................................................................................... 53 Implications for Grayslake ............................................................................................................................................................................................... 55 Downtown Business Opportunity Profiles ........................................................................................................................................................................... 56 Downtown Food Business Opportunity Profile ............................................................................................................................................................... 57 Downtown Restaurant Business Opportunity Profile ...................................................................................................................................................... 58 Downtown Home Oriented Business Opportunity Profile .............................................................................................................................................. 60 Downtown Apparel Business Opportunity Profile ........................................................................................................................................................... 62 Downtown Hair & Nail Salon Business Opportunity Profile ............................................................................................................................................ 63 Downtown SWOT Analysis ................................................................................................................................................................................................... 64 Strengths .......................................................................................................................................................................................................................... 64 Weaknesses ..................................................................................................................................................................................................................... 64 Opportunities ................................................................................................................................................................................................................... 65 Threats ............................................................................................................................................................................................................................. 65 Business Attraction Value Platform ..................................................................................................................................................................................... 66 Retail Center SWOT Analysis ............................................................................................................................................................................................. 67 Strengths .......................................................................................................................................................................................................................... 67 Weaknesses ..................................................................................................................................................................................................................... 67 Opportunities ..................................................................................................................................................................................................................
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