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06-16-2015 EDC Meeting
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06-16-2015 EDC Meeting
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• Destination attractions: A significant destination business (such as a large discount <br /> department store) or community attraction can expand your trade area—drawing <br /> customers from a long distance. However, do not assign a single business's trade area to <br /> the whole community. Rarely do other businesses match the pull of a prominent <br /> destination business. <br /> • Traffic patterns: Each region has distinct traffic patterns strongly impacted by its <br /> network of streets and highways, as well as major landforms such as rivers, lakes, and <br /> mountains. <br /> Reilly's Law of Retail Gravitation <br /> Reilly's Law of Retail Gravitation is a theoretical means defining a trade area. It is based on the <br /> premise that people are attracted to larger communities to do their shopping, but the time and <br /> distance they must travel influence their willingness to shop in a given city. In other words, <br /> people are more likely to travel shorter distances when possible.Additionally, customers are <br /> more likely to shop in larger communities as they typically offer more goods and services. <br /> Reilly's Law provides a mathematical formula that can be used to calculate hard numbers <br /> relating the distance people will travel. However,you can also combine a simple map and <br /> common sense to apply the concepts behind Reilly's Law to define general trade area <br /> boundaries. <br /> Example Map and Trade Area Definition using Reilly's Law <br /> 44 <br /> 7 f R{5, Ckioneee V1-- N��qg, <br /> Si( 44, 2'3g) '4.! <br /> 4ti()! - {� <br /> $Creek <br /> ( )Netkonv (,.Zis <br /> t Mamma <br /> Bieck Creek <br /> (1,246)0 <br /> S (3,3 <br /> a ) :j (939)5 <br /> Anriersl 096Sbr9 <br /> Maser <br /> (10.195) (898) ( Lamer <br /> 71,New Lo <br /> Waup c (5,A06) {7, Harlem ie <br /> ?'±je Wayw t(2.455) <br /> t`, (,, 'r <br /> Ainond , <br /> 1:67( <br /> ( .` (135 <br /> P+enfbAd(856) ie <br /> WroR4ve?boos f <br /> Hancock ry4.71 rt#vii <br /> Lluns, anet orr+e <br /> I-• Estimated Trade (z,3io) <br /> O <br /> Area Boundary 0 Cairo <br /> Community o Wertome edgrarrte (3'172 <br /> 982 ( 1 <br /> (PAation) i ( ) W .,.028) (tom 92) <br /> County Boundary' --� <br /> _— f [ --'--- ------- <br /> 3 <br />
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