Down To A Science: Pinpointing Retail Growth Markets
Given the current, sluggish economic climate, retailers will have to look hard to find growth opportunities in the U.S.
According to Nielsen Claritas, they might start by taking a closer look at large, fast-growing metro areas, like Atlanta, Dallas, and Phoenix.
These three markets ranked as the top three fastest growing U.S. markets in the last eight years — and could offer the retail industry some hard-to-come-by expansion opportunities, Nielsen reported in a new study released Monday.
“While some of these markets like Phoenix and Los Angeles have been hard hit by the recent wave of foreclosures, there has been no mass exodus from these markets or anywhere else. People who have foreclosed most likely have not left the market but rather have just become renters,” Mike Mancini, Vice President of Data Product Management, Nielsen Claritas, and co-author of the new study, noted. “Faltering markets, such as these, will likely rebound and continue to grow — and their underlying demographics are solid.”
