Retail Market and Gap Analysis Services

The Vendor is required to provide for a retail market and gap analysis services.
- The objective is to assess existing retail and service market conditions and to identify gaps and opportunities in the business sectors within the Town and its surrounding trade area.
- The Town is actively seeking to better understand its retail market composition, trade area dynamics, consumer spending, leakage, and opportunities for expansion and diversification of retail and service offerings.
- Retail & Service Inventory
•    Catalogue of existing retail, service, and commercial businesses within the town by category, size, location; and
•    Assessment of vacant commercial/retail space and key retail nodes.
- Trade area definition
•    Define primary and secondary trade‐areas for town (geographic extent, population, households, mobility, commuting patterns); and
•    Profile demographics, socioeconomics, spending potential (income, household size, growth trends).
- Consumer expenditure & retail spending analysis
•    Use current data sources (e.g., statistics state, industry reports) to estimate household spending by retail/service category within the defined trade areas.
•    Analyze “leakage” (spending flowing out of the trade‐area) and “inflow” (spending attracted from outside) by category.
- Gap and opportunity identification
•    Identify specific retail/service categories which are under‐represented (i.e., unmet demand) relative to local supply and spending potential;
•    Identify sectors with surplus (over‐representation) or high competition; and 
•    Provide projections for future demand based on population growth or planned development.
- Competitive & locational analysis
•    Assess competitive centres (nearby larger centres) that draw retail spending away; and 
•    Evaluate locational factors: visibility/accessibility of major retail nodes.
- Strategic recommendations
•    Provide actionable recommendations for the town to attract targeted retail/service uses, retain local spending, and support local entrepreneurs;
•    Outline appropriate site typologies, potential anchor tenants/types, marketing/branding suggestions; and
•    Provide timeframe and suggested roles (town, property owners, business associations) for implementation.
- Reporting & presentation
•    A final written report (print‐ready and digital) including executive summary, data tables/charts, maps (GIS or pdf), and an appendix of raw data;
•    A summary presentation to the economic development committee and/or council; and
•    Transfer of all data, digital files, and rights to the town.

- Contract Period/Term: 1 year
- Questions/Inquires Deadline: January 16, 2026