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How To Develop Retail and Tourism Together For Increased City Revenue

Retail development and tourism development are often planned independently of one another. But if your community has the potential to bring in tourists that’s definitely something to consider when planning retail development. And if your community’s retail offerings can appeal to non-residents, then developing a plan to bring in tourists is key to increasing city revenue.

Considering retail and tourism together is simply good business. Ideally, your community’s retail and tourist offerings should work together to support the local economy. Here are a few tips to make sure you’re doing just that.

tourism-and-shopping

Understand Tourism In Your Community

What attracts visitors to your area? That’s the first question to answer when considering the link between retail and tourism. Retail on its own can draw in a certain number of visitors, but tourist attractions are also going to be important.

When answering the question of why visitors should love your town, think about what makes your community unique or extraordinary. What do you have that other communities don’t or that is better than others can offer? Natural attractions such as lakes and rivers should go on your list, as well as outdoor activities. And don’t forget to include attractions with historic or cultural significance, including local festivals. Tourist attractions like zoos, theme parks, etc. should go on the list as well, along with unique local businesses and artisans.

Compare Tourist and Resident Shopping Patterns

It’s important to know what types of visitors are currently being attracted to your community and what your tourism potential is. But it’s also important to understand your resident’s needs and their retail habits. As you’re planning for tourism, you have to be careful to meet residents’ retail needs as well.

In some cases, there will be quite a bit of overlap between residents’ and tourists’ shopping patterns. This means that the difference between residents and tourists won’t have much of an impact on your retail development strategy. But in situations where there’s a wide gap between the two demographics’ needs and interests, you’ll want to attract retail that can cater to both groups of people.

Appeal To Your Tourism Niche

Once you understand what your community has to offer and what the tourists you’re attracting want, then you can focus on developing your joint tourism/retail development plan. This is where you’ll answer the question, “What products and services complement local attractions and appeal to your tourists?” Answering this question will help you discover your niche in the tourism industry and set you apart from the competition.

It’s easy for a community to feel overwhelmed planning retail development on its own, and even more so when you take tourism into account. Hiring a professional retail consultant will make things much easier. Retail Attractions can help with analyzing tourist and resident demographics, developing an actionable plan, and attracting the retailers you want. Just contact us today to get started.

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