Retail opportunities abound in McKenzie, says Casey Kidd, CEO of retail recruitment and consulting company NaviRetail.
Kidd visited McKenzie on Monday, Feb. 10 to hold a seminar for local business owners. McKenzie Economic Development Corporation, who commissioned NaviRetail to conduct market research and assist in recruiting retail for McKenzie, hosted the event at the Railyard, the building in downtown McKenzie which formerly housed Overflow Church.
Gloomy weather and, in some cases, illness, had a negative impact on event attendance, with less than 15 present including Kidd and Cristo.
According to NaviRetail’s research, there is a lot of money at the disposal of McKenzie residents. Specifically, Kidd said that in the McKenzie market area, there is more than $480 million in demand for retail trade annually, and only $82.5 million in supply, leaving a gap, or “leakage” of almost $400 million.
This is money that McKenzie residents are spending on retail trade out of town, including full-service dining, clothing and apparel, and groceries. Kidd said that this money is mostly going into the Paris and Jackson markets.
“We don’t only see this as a problem,” said Kidd. “It is an opportunity.” Kidd said that there is a more than $10,000 per capita opportunity for retail growth in McKenzie.