Retail recruitment, retention recommendations

So the results of the Rahway Survey are in. Now what? Among the recommendations by Community Insights, it suggests that Rahway must undertake “a concerted retail recruitment effort to attract the kinds of stores, restaurants and businesses that consumers most want.”

According to the report presented last month, “one of the reasons why consumers don’t visit the downtown more often is because of the poor selection of stores and merchandise offering.”

Community Insights will provide a listing of pre-qualified retail prospects that most closely meet the requirements and opportunities. Prior to the launch of the recruitment effort, it will be necessary to pre-qualify all available properties to identify suitable locations for retail prospects.

In conjuction with recruitment effort, the city must embark on a retail retention effort while identifying retailers who may be nearing the end of the business’ operations because of retirement, illness or other factors. One in four retailers in a downtown area may be at risk for failure, according to Community Insights. Key indicators for identifying a retailer at risk may include stagnant inventory, erratic store hours, abundance of temporary/handwritten signage, or deferred building and store maintenance, among other things.

Previous Rahway Survey posts:
Movie theater, clubs and related retail for entertainment district

Retail demands of new growth
Three distinct retail districts downtown
Enough demand for 18 restaurants
Retail supply and demand
Restaurants would draw us downtown (among other things)
Rahway Survey results are in