Retail Market Analysis

In July of 2024, the City of Sandy partnered with ECONorthwest to complete it's third official retail market analysis report.  The City had made the initial decision to work with ECONorthwest for this project back in February of 2020, but with the COVID-19 pandemic making drastic changes to the overall economy over the remainder of 2020, the City of Sandy felt it would be best to wait until the economy returned to some sense of normalcy before proceeding further with this report.  

The purpose of this retail market analysis is to develop a data-driven, market-based retail strategy that directly supports this goal.  By integrating information on demographic, economic, and market trends, as well as details on commercial land availability and constraints, this report aims to inform strategic recommendations for encouraging retail development, attracting new retailers, comparing our community to other model retail communities in Oregon and supporting existing businesses in Sandy.  It positions our community to capitalize on commercial retail development opportunities once the moratorium is lifted.  Additionally, it provides valuable market insights for existing businesses, helping them navigate the current landscape.  The study also serves as a recruitment tool to attract new businesses to existing spaces, maximizing the use of available retail areas.  Finally, it is an invaluable tool for small businesses to use to acquire capital from lenders, showing demographic data and financial trends for the community that can justify the profitability of potential new business ventures.

Retail market reports typically provide the following information:

• A review of previous market report data and changes in market conditions
• An updated definition of Sandy’s primary trade area and commercial centers
• A detailed demographic description of Sandy consumers and their spending habits
• An analysis of:
  • Supply and demand by categories of business
  • Current and future market potential
  • Inventory of retail land for development and available commercial space for lease
• A SWOT analysis for retail development in Sandy as a whole
• Recommendations and strategies for improvement