Retail Leakage & Surplus, Daytime Population Reports Now Available

A critical role of the Development Council for Buffalo County (DCBC) is keeping our finger on the pulse of the local and regional economy. We do so in a number of ways, including the tracking of key Economic Indicators available through a number of sources, ranging from local city and county departments to national analytics.  DCBC recently published two new reports that should be of interest to all residents, businesses, and developers.

Retail Leakage & Surplus Report

A Retail Leakage & Surplus Report, often referred to as a GAP Analysis, analyzes the total sales within a defined geography broken down by specific categories of goods, and compares these figures  with the demand (spending) for these same goods by the residents of the same geography. The resulting report indicates how well the retail needs of local residents are being met my local businesses, uncovers unmet demand and possible opportunities within the community, and allows us to ultimately understand the strengths and weaknesses of our local retail sector.

The following are highlights for the most recent retail leakage and surplus report published by DCBC, found here.

• The greatest surplus can be found in the Building Materials, Garden Equipment, and Supplies category, which shows that local sales are nearly 7x the local demand. Within this category, we found that receipts at Home Centers (i.e. Menards, Builders Warehouse) are nearly 12x the amount that local residents spend in the same category, reflecting a significant influx of dollars (and tax revenue) from non-residents. Other notable surpluses include Home Furnishing Stores (5x) and Optical Goods Stores (6x). Overall, Kearney boasts surplus sales in 8 of the 11 categories.
• Where local sales fall short of local demand, we find opportunity. Areas of opportunity include the following sub-categories: Furniture Stores, Electronics & Appliance Stores, Outdoor Power Equipment Stores, All Clothing Stores categories, Sporting Goods Stores, and Warehouse Clubs & Superstores.  
• Overall, Kearney's Retail Pull Factor (surplus) is 1.7. In terms of dollars, local sales across all categories totals nearly $9M, while local retail spending is approximately $5.3M. That's almost $4M that is spent in our community each year by non-residents.

Daytime Population Report

A Daytime Population Report provides insight on many market research statistics that are not traditionally reported in demographic data. Consumer expenditure information, survey lifestyle data, and hundreds of other variables are compiled in a variety of reporting outputs. The end result is quick household size information as well as a breakdown by daytime population. With this information, we can better understand the expansion and contraction of our population based on the influx of visitors seeking goods and services, employment, healthcare, and education. 

The most recent report (found here) shows that Kearney's daytime population grows by more than 16,000 each day, reflecting a significant influx of visitors. 

Visit DCBC's Economic Indicators page for these and many more reports. If you would like more information about these reports, or would like one for a specific geography within Buffalo County, please contact the DCBC office at (308) 237-9346 or email info@growbuffalocounty.com today!