RIDGEFIELD — Several retail markets that could be a good fit in Ridgefield have been identified with the city receiving help on analysis to bring business into its community.
Cheyenne Robinson, account manager for consumer analytics company Buxton, came before council Nov. 3 to talk retail. Ridgefield’s partnership with Buxton began in January, with letters sent out in May to retailers that were identified by the analysis to be a good fit, Robinson explained.
One of Buxton’s focuses was on regional markets outside of the political boundaries of Ridgefield. Robinson said on average individuals in the area would be willing to drive 20 minutes for retail, opening up the market to roughly 273,000 people within that drive time.
Buxton’s analysis identified three main prevalent groups within Ridgefield’s market: “flourishing families” — affluent, middle-aged couples and families, “thriving boomers” — typically upper middle class couples, and “promising families” — younger couples with young children in the household.
Specialty grocery was one of the foremost retailer types identified by the research, Robinson said. She said that efforts in securing such a retailer had been promising so far.
Premium outlet malls were another type of retailer identified by Buxton’s analytics, Robinson explained. A trade area comparison was conducted, with Robinson saying that compared to several markets with outlets, Ridgefield had similar demographics in terms of median age, household income and size.
Craft breweries were also analyzed with Robinson showing that such a business would be a good fit for the city as well. About 25 percent of the trade area for Ridgefield retail consisted of so-called “core” households for the market of craft beer, equating to close to 26,000 households in total, she explained.
Buxton isn’t finished helping out the city, as Robinson explained that in January the company plans to add 20 more retailers to their recruitment efforts.
Regarding another development in the city, council member Don Stose mentioned the planned Clark College at Boschma Farms, specifically on the commercial area featured in the master plan of the development. He requested that retail designed for a college campus environment be a priority for Buxton to look into given the opportunity put forth by the college.
Robinson said that attracting retailers was a process, explaining that the businesses could have site selection plans out as far as three years or more. She said the first step was making sure that Ridgefield was on the radar of those companies which she said meant building relationships with companies now in order to make something happen down the line.
Ridgefield City Manager Steve Stuart commented that in order for the city to secure retail they need to be proactive.
“While we have seen some gains recently in services, and soon-to-come services in Ridgefield, we also realize … that hope is not a strategy,” Stuart said. The concerted effort found in the partnership with Buxton has demonstrated what’s available to the city, with Stuart mentioning specifically the analysis on premium outlets and craft breweries as an example of what the city can use to find the best fit.
“We have an amazing wealth of data available to be able to match our area with potential retailers,” Stuart remarked.
