FORT ERIE ECONOMIC DEVELOPMENT CORPORATION BEGINS
RETAIL MARKET STUDY
October 25, 2002 – Fort Erie Economic Development and Tourism Corporation (EDTC) General Manager, Jim Thibert, today announced that the EDTC has begun a retail market study which it believes will significantly assist the Corporation in its marketing efforts. “We know that the retail market is an important part of our local economy, “ stated Thibert. “We are unique again in the regional landscape because of the inflow of US dollars into Fort Erie. We need to explore this and other opportunities in order to retain our existing businesses, support them, and attract new ones.”
The Retail Market Study will examine seasonality; the impact of exchange rates; advertising patterns; competitive considerations; and other economic conditions. In partnership with Brock University’s business program, two co-operative students will interview at least 250 Fort Erie retailers representing difference sizes and sectors. At the same time, they will introduce retailers to the Fort Erie Branding Program: a program encouraging retailers to use the Fort Erie bridge logo in their advertising and merchandising products.
The Retail Market Study follows closely behind the completion of the EDTC’s US Investment Study,
the research of which was completed during the summer and early fall. “Both the US Investment and Retail Market Studies will drive our marketing efforts over the next three years. We’re just finalizing our three-year business plan which will generate a lot of gains for the Town,” explained Thibert.
“Fort Erie has some exceptional assets and with Council’s support, we can continue the successes of 2002. We need to keep the momentum going.”
Results of the Study are expected to be released in early 2003.
Fort Erie Economic Development & Tourism Corporation