The University of Wisconsin’s Center for Community and Economic Development has unveiled a market analysis of downtown Madison, Wis., and revealed several niches that could bring more shoppers downtown. Perhaps some of the ideas will work for your shopping area, too. They are:
Urban living – Focuses on goods and services related to home furnishings, furniture and home decorating. Think Crate and Barrel and Williams-Sonoma.
Apparel – Can any shopping district ever have enough?
Arts, gifts and entertainment – This category includes downtown dining, cultural facilities, gift and novelty shops, children’s attractions, musical instrument stores, and art galleries. Oh, and a movie theater. The niche appeals to visitors and residents.
Neighborhood-serving businesses – This means services for residents, including drugstores, grocery stores, hair salons and dry cleaners.
How does your shopping district measure up?