Retail Trade Analysis workshop

This morning approximately 55 people heard Bruce Schwartau from the University of Minnesota Extension Service present a Retail Trade Analysis of Northfield and Rice County. The NDDC, the Northfield News, and First National Bank of Northfield sponsored the workshop to give the business community an opportunity to hear about the effects of “pull factors” and “surplus” or “leakage” of sales into or out of the Northfield area.

One interesting issue (among many) that surfaced during the discussion period following the presentation was the conundrum of whether or not Dundas and Northfield are competitors for retail sales or collaborators. In other words, should the two cities work together for the benefit of both or compete aggressively against each other? Which approach will be the most effective?

As promised at the meeting, I’m making a pdf download available of the complete Retail Trade Analysis document. You may also wish to view or download a pdf of the RTA PowerPoint Presentation.

There will be a follow-up meeting on Tuesday, June 14 to consider next steps in developing strategies to deploy in light of the data presented this morning. The meeting will be at 8 am in the Archer House. Mr. Schwartau will again facilitate.