Prairie du Chien Downtown Revitalization Market Analysis Results

Compiled by Laura BrownCrawford County UW ExtensionOctober 4, 2010

About the Market Analysis •Initiated in 2006•Administered by Economic Restructuring

Committee•Goals:

▫Inform local business owners about customer preferences

▫Inform PDRI, the City, and other ED organizations about appropriate next steps for downtown development

Market Analysis Components•Local Economic Analysis- 2007•Business Operator Survey- 2006-2007•Consumer Survey Findings- 2008•Housing Needs Assessment (Community

Development Alternatives, Inc.) – 2008•Business Mix Analysis•Trade Area Analysis•Demographics and Lifestyles Analysis

Our Local Economy

Wisconsin County Workforce Development Profile http://dwd.wisconsin.gov/oea/county_profiles/current.htm

Our Local Economy

Our Local Economy

Tourism Spending

Commuting Patterns

Business Operator Survey•Needs and Opportunities Assessment•Business and workforce data•Market and marketing data•60 completed and returned surveys- 51%

response rate

Consumer Survey•413 completed surveys – 59% response

rate

Business Challenges•Expensive employee wages or benefits•Out of town and in-town competition•Employee recruitment and retention •Unavailable or expensive utilities•Expensive employee wages or benefits

Information & Assistance Needs

Over 20 percent of respondents suggested that they would be interested in information regarding:▫financial management▫advertising and marketing▫customer service or hospitality▫building improvements and internet or e-

commerce.

Usefulness of Main Street Programs

Sentiments About the Downtown

•I always try to direct customers to other downtown businesses (63%);

•I seek ways to cooperate with complementary downtown businesses (56%);

•I feel safe downtown, even at night (56%);•I always try to buy products and services

locally (47%); and•Employees of my business show great

customer service (44%).

Sentiments About the Downtown

•My building façade draws customers into my business (10%)

•Local municipal services are well worth the level of local taxation (9%)

•Childcare for employees and customers is readily available (95)

Business and Workforce DataYears in Operation•20 years or more - 31 businesses (53%)!•11-20 years- 10 businesses (17%) •6- 10 years – 10 businesses (17%)•1-5 years (7%) •< 1 year – 3 businesses (5%)

50% have owned their business for 11 years or more.

Our Customers•Make less than $75,000/year•Have a mortgage or rent of

$300-749/month•Don’t live downtown and don’t want to•58% live within 10 minutes of downtown•Leisure activities: listening to music,

computer and internet, cooking, reading•Books and magazines: cooking/food/wine,

home and garden, outdoor & nature

When & Why They Shop

Monday before 11 amFriday from 11 am-2 pmFriday, 2 pm-5 am

69 % of customers are from Prairie du Chien, Marquette or

McGregorPrairie du Chien Business Survey, 2007

Most desirable extended hours

Prairie du Chien Consumer Survey, 2008

When & Why They Shop

People stop by downtown for: • Food (restaurants)• Drinks (bars)• See friends• To shop

▫Buy gifts and support local shops▫Buy shoes▫For entertainment (parades, etc.)▫ It is convenient.

• Specifically mentioned downtown draws: Starks, Hamann’s, the Post Office, Sports World, banks, Simply, Mulligans, the Island, Pete’s and the drug store/pharmacy, were

When & Why They Shop

Where They Shop

•Wal-Mart (70%)•Riverside

Square (29%)•Downtown

(29%)•La Crosse (4%)•Dubuque (1.3%)•Madison (1.3%)

Consumer respondents report “better selection” as the most common reason why they shop in

places other than the downtown.

Where They shop

•The perceived advantages Wal-Mart has over stores in downtown Prairie du Chien include better hours, better selection and better prices.

•26 % of respondents felt that downtown Prairie du Chien businesses were open when they wanted to shop;

•25 % felt that businesses sell products and services they want.

What businesses would you like to see downtown?

• Book store (59% /59%)

• Bakery- cafe (55% / 46%)

• Sub shop (43% / 51%)

• Office supply store (53%)

Consumer interest in a variety of ethnic restaurants, predominantly Mexican and Italian. Significant interest in a variety of fast food eateries. (Consumer Survey, 2008)

What community assets would you like to see developed?

•Open air markets (produce, fish, art, music)

•Walking trail•Sports complex•Streetscape•Performing arts center

Opportunities & ChallengesOpportunities: • Downtown destination • Bluff protections • Organized/structured growth • Intergovernmental cooperation • Development of St. Feriole Island

Threats: • Business moving out of City • Loss of shared revenue • Bluff development • Low wages • Fear of change • Out of town shopping – downtown conversion to office

space 2003 Prairie du Chien Comprehensive Plan, SWOT meeting

Housing Assessment