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HyettPalma
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News and Trends

As we travel from coast-to-coast — and as we pore over reams of literature related to Downtown — we come across the hottest news and trends occurring in and affecting Downtowns. Here, we want to share the latest with you.

  • Model Skateboard Plaza
    USA Today reports that the City of Kettering, Ohio, along with two corporate sponsors (Seek and DC Shoes) has built Kettering Skate Plaza — billed as the first-of-its-kind street-skateboarding park. (“Street-skateboarding” involves “grinding” down handrails, jumping onto ledges, riding down staircases, and other tricks that can damage public property, as opposed to “transition skating” which is done in a half-pipe. A majority of skateboarders consider themselves street skaters.) Designed by professional street-skateboarder Rob Dyrdek, the Plaza recreates what are considered to be the best street-skating elements from around the globe. For example, the 40,000 square foot Plaza, which can hold 150 to 200 athletes at a time, includes a handrail modeled after the ones found on the University of California Irvine campus, benches modeled after those at the Department of Water and Power building in Los Angeles, wide concrete slabs inspired by Pier 7 in San Francisco, and a staircase modeled after one in Philadelphia's Love Park. The $600,000 Plaza is open to the public, free, and operates under “skate at your own risk rules” — with the use of pads and helmets recommended but not required. Kettering's public officials envision that the Plaza will also be used for concerts, plays, and community gatherings.
     
  • Dollar Stores Grow
    Shopping Centers Today magazine reports that dollar stores are one of the fastest growing sectors of retailing. Traditionally serving low- to moderate-income individuals, a study conducted by WSL Strategic Retail found that 53% of Americans with annual household incomes over $100,000 shop at dollar stores. This is thought to be because dollar stores are now offering more basic necessities and name brands — along with value and convenience.
     
  • Local Elected Officials… Hear This!
    According to a survey conducted by American Demographics magazine and eNation, the following “abilities” of local elected officials are the most valued by the public:
    • Honesty — 43%
    • Responsiveness to constituent complaints/needs — 19%
    • Budget management — 16%
    • Delivering on campaign promises — 11%
    • Vision for the future — 8%
       
  • Why People Buy
    A survey conducted by InsightExpress revealed that people buy new products because of:
    • The recommendations of family or friends — 55%;
    • TV commercials — 53%;
    • Store displays — 48%;
    • Free samples they received in the mail — 46%;
    • Fliers or newspaper coupons — 45%.
       
  • The 45-Plus Generation
    The 18- to 34-year old market is shrinking. The 45-plus market is the new majority, and growing. The Census Bureau estimates that, by 2010, about half of the nation’s population will be over 40, up from 43.4% in 2000. The Mature Market Group says that this segment of the market is affluent… Those 46 and older control more than half of the nation’s discretionary income.
     
  • Teen Market
    Don’t count them out as customers just because they’re young. Harris Interactive reports that teens in this country number 32 million and have $94.7 billion at their disposal. Most of that is spent on clothes, consumer electronics, and entertainment.
     
  • Grocery Store Survival
    According to USA Today, feeling the pinch from Wal-Mart and other discounters, grocery stores are stepping up service and efficiency with:
    • Automation, including customer self-scanning stations;
    • Prepared foods, with sandwiches, side dishes, fruit and salad bars, and expanded deli areas, to cater to time-starved customers; and
    • Staff loyalty, developing a greater rapport between management and workers, to provide better service to customers.

     
  • What Are They Worrying About?
    The Nationwide Financial 2003 Small Business Survey revealed that the following percentages of small business owners say their planning is weakest in the listed area:
    • Recession/current economic issues — 25%;
    • Retirement or transition — 19%;
    • Financing issues — 7%;
    • Unexpected growth — 6%; and
    • Succession — 4%.

     
  • Lohas
    Consumers who care about the environment, want products to be produced in a sustainable way, and spend money on their personal development now have an acronym… Lohas, for “lifestyles of health and sustainability.” According to Natural Business Connections, in 2000, this market segment accounted for $230 billion in sales, spending money on things like organic foods, energy-efficient appliances, alternative medicine, yoga tapes, and eco-tourism. Some estimate that about 68 million Americans, or a third of the adult population, are Lohas.

     
  • Market Share
    According to the New York Times, Wal-Mart — the largest US corporation in terms of sales ($245 billion in 2002) — is capturing a strong share of the following markets:
    • Disposable diapers (30%);
    • Hair care products (30%);
    • Toothpaste (26%); and
    • Pet food (20%).

    Shopping Center Today reports that, in 2004, the behemoth plans to open:

    • 220 Supercenters, 140 of which will be “relocations” or expansions of existing stores;
    • As many as 55 new discount stores; and
    • 30 Neighborhood Market grocery stores.

     
  • ADA Guide
    The U.S. Department of Justice (DOJ) has published a valuable publication called ADA Guide for Small Businesses. This free publication offers suggestions regarding how small businesses that serve the public can meet ADA requirements. In it, DOJ acknowledges that “the ADA has requirements for existing facilities built before 1993 that are less strict than for ones built after early 1993.” Further, the publication notes that “the ADA requires that accessibility be improved without taking on excessive expenses that could harm the business” and that a business that serves the public must “remove physical barriers that are readily achievable, which means easily accomplishable without much difficulty or expense.” The guide can be ordered by calling DOJ’s 24-hour automated service at 800-514-0301 (voice) or 800-514-0383 (TDD).
     
  • Gay Populations and Tech Centers?
    Research conducted by two Carnegie Mellon University economists concludes that there is a correlation between a community’s ability to sustain a gay population and its ability to attract people who create high-tech industries. The findings have proven to be somewhat controversial, drawing the attention of both advocates and opponents.
     
  • Boomers Redefine “Retirement”
    A recent AARP national poll found that 80% of the nation’s 76 million baby boomers intend to work at least part-time during their “retirement” years. This generation is expected to face economic polarization in retirement — with boomer’s income levels in general being at least a third higher than those of their parents’s generation. These wealthy boomers are expected to rewrite the rules by taking their pensions and starting new careers. However, the bottom one-quarter of boomers are expected to have a tough time financially and will need to work during retirement.
     
  • CEOs Look at the Future
    In a recent survey, CEOs said the following will be most important for business success over the next 5 years:
    • Get and retain talent – 26%
    • Execute your business plan well – 22%
    • Focus on serving customers better – 19%
    • Form alliances and partnerships – 19%
    • Empower people through a shared vision – 19%

    In HyettPalma’s opinion, Downtown’s small business owners could benefit from paying attention to this advice.

  • Insomnia? No Problem
    More and more businesses are staying open 24-hours a day, 7-days a week. A recent survey noted that this included:
    • 237 Home Depot stores;
    • 1,298 Wal-Marts; and
    • 426 health clubs in the Health Fitness chain.

    An early supporter of this trend was 7-Eleven, which opened its first 24-hour store in Las Vegas in 1963. Today, all types of businesses are getting in on the act, including a 24-hour/7-day a week golf range in Littleton, CO, a hair salon in Milwaukee, and childcare/learning centers in Pittsburgh. Some businesses are opening 24-hours a day for portions of the week — like a bookstore in Washington, DC, that stays open 24-hours a day on weekends and posts 10% of its sales in the wee hours.

  • “Cloudy” Parking Meters
    USA Today reported that the city of Nottingham in Great Britain spent $1.6 million installing 215 high-tech, solar parking meters. The problem: due to Britain’s cloudy weather, the meters allowed hundreds of drivers to park for free.

  • Pets Are Big Business
    According to a national pet owners survey conducted by the American Pet Products Manufacturers Association, U.S. consumers are spending more and more on their pets each year. The survey revealed that:
    • 62% of U.S. households — or 63.4 million households — own a pet, compared to 56% in 1988;
    • The “top 4” pets are dogs (in 40 million households), cats (34.7 million), freshwater fish (12.2 million), and birds (6.9 million);
    • U.S. pet owning households spend an estimated $29 million a year on their pets; and
    • The greatest expenses for pet owners over a 12-month period are veterinarian care, food, and supplies, in that order.

    Can your Downtown support a pet store?

  • Cultural & Historic Tourism
    According to the Travel Industry of America, cultural and historic tourism is one of the most popular sectors of the travel industry and historic/cultural tourists spend more, stay in hotels more often, visit more destinations, and are twice as likely to travel for entertainment purposes than other travelers.

  • Women Rule
    Venus Fort, a shopping mall marketing itself as a “theme park for women,” has opened in Tokyo. The mall has 140 shops plus cafes, restaurants, and five open squares where performances and events are held. The mall’s services were designed to appeal particularly to women and include a restroom with 64 stalls and large powder-room area, 15 “attendant crew members” assigned to provide customers with information, and delivery service for customers who don’t want to carry their purchases home. The enclosed two-story mall was designed to resemble a “European town of the 17th or 18th century” and has a vaulted ceiling painted and lighted to give the illusion of a sky that changes hourly, going from mid-day blue to sunset orange to evening darkness.

  • Vacationers Eat
    A recent, nationwide survey found that “seeking out good food and restaurants” topped the list of “perfect vacation activities” cited by 92% of travelers surveyed.

  • Libraries Get Wired
    Half of registered voters, age 18 or older, say they use schools or libraries to access the Internet.

© HyettPalma 2008