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MCCASLIN AREA <br />DEVELOPMENT <br />STUDY <br />City Council Project Update <br />gra <br />la• m <br />MARKET ANALYSIS <br />PRELIMINARY MARKET FINDINGS <br />NATIONAL RETAIL TRENDS <br />• Retail spending bi-furcating <br />- Convenience/low price <br />- Experience-oriented/hand-made/local <br />• Retail market changing at staggering pace driven by e-commerce <br />- 19% annual growth in online retail purchases (2001-2015), 2.7% annual growth in <br />brick and mortar store sales <br />• Food and Beverage growing component of retail centers <br />- Prepared foods sales have outpaced sales food for consumption the first time in <br />recent years <br />• Entertainment and fitness are growing and account for a greater portion of <br />conventional retail space <br />NATIONAL RETAIL TRENDS <br />The retail market is changing driven due to dramatic <br />growth in E-commerce. <br />Less than 1 /4 of brick and mortar retailers saw annualsales <br />revenue increases in 2016 (millions) <br />betweeen 2014annual and 2017, an increase h in from 530 53,000,000 <br />billion between 2010 and 2014 $2,500,000 <br />19%annualgrowth in online retail purchases $2,000,000 <br />(2001 -20157 51,500,000 <br />• OS annual growth in brick and mortar store n,000,000 <br />• 10%decrease in brick and mortar market share 0500,0o0 <br />p051 0 years and storen losuresarle on pace to <br />eclipse the number of closers that occurred <br />during the Great Recession in 2008 <br />•Bricks and Mortar •E-Commerce <br />IIIIIIIIIIIIII <br />IIIIIIIIIIIIII <br />RETAIL DEVELOPMENT HISTORY <br />• Centennial Valley was first <br />major retail center built <br />between Boulder and <br />Westminster (1993) <br />• Substantial retail development <br />occurred between 2000 to 2005 <br />in Superior and Broomfield <br />creating major competition with <br />greater access and visibility to <br />US-36 <br />Regional retail development <br />since 2005 has shifted to <br />Boulder, US 287 and 1-25 <br />following new housing <br />development <br />— I•w Lm••• <br />• Mm <br />rtr <br />NP ••I <br />I•. ' <br />1 <br />