Diamonds in the Rough

Obsolete buildings, weak markets and eroding demographics make working with older retail areas more than a bit challenging. Mom and Pops are no longer the heart and soul of the retail and service sector. Though local residents fondly recall their aging business districts and mourn their loss, pure sentiments don’t convert into real estate sales.

Occasionally though, a fresh and innovative business arrives in such a setting. Not all dreams come true, but occasionally, fortune smiles on pioneering entrepreneurs, and related businesses with similar product and/or service lines congregate in the area, forming a loosely definable district.

Though similarly attracted by lower costs, the new arrivals are welcomed as more than mere competition. Many see a chance to become a collective destination spot. Their customers’ shopping experiences are often reinforced by the somewhat uncharacteristic or eccentric location. Businesses that appear to “buck the system” chose an alternative entrepreneurial style. Call it “chutzpah,” “moxie,” or simply “nerve.” Some customers, seeking an alternative to the generic suburban consumer landscape, often find such a new shopping experience attractive in itself. The perception of a lively, competitive atmosphere, a broad range of choice, value, and sales/product expertise leads to customer excitement. Someone has made a “find.” As popularity increases, large numbers of less adventurous shoppers follow.

An interesting local example of this scenario is Reading’s “Bridal District.” An ad hoc assemblage of wedding gown and wedding supply businesses discovered that the area’s more traditional selling spaces combined with an ability to enjoy a concentrated presence were attractions in and of themselves. Coupled with knowledgeable sales staffs, many with former experience in New York’s [wedding] garment industry, and product lines often unavailable locally, the district began to cultivate a reputation for quality, service and value.

It is in areas like this where HCDC’s Economic Development Office (EDO) can be of assistance. EDO conducts a series of corridor studies to test perceptions against empirical data. Communities contracting with EDO are looking for information; information they’re generally aware of, but don’t have a feel for in terms of its severity or extent.

In Reading’s case, EDO’s services were both comprehensive and at the same time, low-keyed. EDO staff helped Bridal District merchants consolidate their individual promotional expertise, concentrate their interests in terms of public support, develop mutual assistance programs, and also helped attract additional complementary businesses to augment the district’s main product.

EDO staff produced a well designed website www.readingbridaldistrict.com to maximize the District’s exposure on the Internet, permitting them to access an exponentially larger customer base. Links offer customers the ability to plan travel and lodging, enabling them to bridge the gap between cyberspace and Cincinnati.

For information about HCDC’s Economic Development Office, and to learn more about how it can help your community or business district, call Harry Blanton at 513-631-8292.