Northfield Retailers Work on Market Area Profile

UofMNfldMapSession2.jpgThe Four Partners of Economic Development (the EDA, the NEC, the Chamber and the NDDC) are pushing forward on the Northfield Market Area Plan. Yesterday Northfield business people met with the University of Minnesota in the second phase of the work.

A dozen or so invitees, representing both of Northfield’s major retail districts, reviewed the geographic boundaries of our market, studied the characteristics of our primary customers, and analyzed area residents’ spending across 73 store categories. The group also brain-stormed product potential and key messages for our customer base.

The next session will focus on further developing our existing market and identifying the most likely markets for expansion. We believe that there are specific segments within the broader region that offer great potential.

It was a very lively discussion, with a broad range of perspectives and an impressive offering of ideas. We thank the participants and look forward to next month’s session.