From time to time, Retail Strategies takes a peek into the always-interesting activities occurring at the University of Wisconsin’s Center for Community and Economic Development. The center rarely lets us down, and that proved to be true again this week.
What we found this time around is the results of a market analysis of downtown Madison, Wis. While the analysis reveals plenty of information gleaned from research, the overall message for retailers located in any downtown area is this: A downtown area must not rest on its reputation or on the very fact that it exists. There is much to be learned from taking a methodical look at the markets served as well as the seasons, occasions and specific times of day that shops are busiest.
Tomorrow, Retail Strategies will look at some areas of opportunity for downtown Madison, as uncovered in the analysis. For today, suffice it to say that the study reveals several niches that could bring more shoppers downtown.