Interesting piece on the analytics of why Target is closing their Clinton, Iowa store. I must admit I can see their point, but its not a good sign for Clinton. Bottom line: if you live in a small town like Clinton, you have to make a greater effort to buy locally, even from chain stores: .... This Target is the only one located in Clinton, a city of about 27,000. The closest Target is 23 miles away in Davenport, IA. To make matters worse, there is a Walmart Supercenter within a 0.3-mile radius of the Clinton Target, which will reduce the customer base even further. To find out more about the community, drive time rings were used to visualize a possible customer base. 28,600 people live within a 10-minute drive, 39,000 within 15 minutes, and 50,800 people within 20 minutes. Looking strictly at drive time areas for similar, non-clustered Targets, the numbers don’t bode well for Clinton. ...Negative population growth in Clinton is also discouraging. Trade areas for non-clustered Targets exhibit some growth, with an average growth rate of 0.62% from 2010 to 2014, but Clinton’s was -0.36%. Also, the 2014 average household income in Clinton is 10% lower than the average household income found in the trade areas for similar stores. ...Although there is some difference between Walmart and Target’s offerings, consumer buying preferences in the region may be forcing Target out of Clinton. It is also possible that people in Clinton may work in Davenport and shop at the Target locations near their work location. blog.cccctech/did-target-miss-the-mark-recent-closings-explained-with-analytics/
Posted on: Thu, 08 Jan 2015 19:38:07 +0000
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