Ft. Scott, KS — Bourbon County Regional Economic Development Inc. has been working to complete several projects to support economic development efforts in the county. The non-profit group earlier this year undertook a look at labor, housing, and the retail industry in the area. The first of these three projects were recently completed. A Community Retail Needs Analysis, which is an in-depth review of the retail industry in Bourbon County has been completed and the report is now available.
"The study was designed to both help our existing retail business in Bourbon County, and let us know what opportunities exist to draw new retail business to the community", said Robert Harrington, Executive Director for Bourbon County REDI. "Having this data gives us a road map to improve the retail industry in the area."
A significant source of data in the study conducted by Goldstone Consulting Group is information compiled from a survey of residents in Bourbon County. "We had over 300 residents voluntarily provide us with anonymous responses to questions about the retail business in the community", said Joe Gaines, Managing of Data & Analytics for Goldstone Consulting Group. "Their responses are valuable to local retail businesses to understand what new opportunities exist."
The vast majority of survey respondents indicate they are making purchases in the community every week. However, a large majority of those same individuals are spending money outside of the community regularly as well. Some of the reasons retail purchases go outside of the community are the cost and availability of items and the convenience of online shopping with delivery.
"This presents an opportunity for our local retailers', said Harrington. "Expanding their online shopping options and offering new services such as delivery in the area can help them attract more business from consumers".
The study also looked at the restaurant industry in the county. "The restaurant industry is an important section of a local economy," said Gaines. "We include this information in a retail study as they closing align with each other."
Respondents indicated that they would like more dining options in the community. American and Italian cuisines topped the list of choices with 63.1% and 62.7% respectively. "There is an opportunity in the restaurant sector in our community", said Harrington.
The study went on to identify opportunities in the automotive and automotive parts sector, clothing and accessories, and building supply materials sectors.
"We have gaps in our retail industry," said Harrington. "The demand in the community is outpacing the supply of products retailers have to offer, which means we can grow this sector of our local economy."
The labor and housing studies that are currently underway are expected to be completed in the coming months.
The full copy of the Community Retail Needs Analysis is available by contacting Bourbon County Regional Economic Development, Inc. at 1-620-644-7967.