Retail market analysis helping Lufkin fill in the gaps in local retail based on supply and demand

LUFKIN, TX (KTRE) - A new tool is providing the City of Lufkin with information about the demands of the Lufkin consumer and the supply that the city currently provides.

The results of this retail market analysis will help the city fill in the retail gaps and hopefully draw new industry to the area.

A recent retail market analysis is giving city leaders new data about what the consumer's demands are and what the current supply is.

"Basically it tells us what the gaps are in our current retail and it helps us to market some of our commercial properties in Lufkin," said deputy city manager, Keith Wright.

A third party market research company collected data to create a primary trade area which includes the City of Lufkin and most of Angelina County to provide a summary of local retail.

"The worst thing we don't want to see happen is someone come in and start a retail establishment that is overpopulated that will fail," said Wright.

According to the study, automobile dealers and general merchandise stores are oversupplied.

The research illustrates that there is about 3 times more supply of full-service restaurants and double the department stores and clothing stores based on consumer spending data from the Bureau of Labor Statistics.

"One of the things the study did was identify areas where we need additional square footage in that category," said Wright.

Like health and personal care, beer, wine and liquor stores, book and music stores, bars and grocery stores.

"Grocery stores," said Wright. "I didn't think we had a shortage in that but it shows there is a small shortage."

Another interesting piece of the research shows the 3 major visitor economy generators are Angelina College Events, The Texas State Forest Festival and with more than 120,000 visitors annually, The Ellen Trout Zoo.

"There is a lot of people that go to the zoo. You got to understand for a city our size there's hardly any cities our size that have a zoo," said Wright.

And the city says they will use this new information is to draw new business to Lufkin so that retail and sales tax continues to grow.

"We really go towards industry as far as the corporation is concerned. We try to provide incentives to bring jobs and jobs brings that retail, jobs bring the drive in the economy," said Wright.

Wright says the retail market analysis will help city leaders market Lufkin to developers.

Copyright 2013 KTRE. All rights reserved.