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NaviRetail to Conduct Retail Analysis, Pursue Development

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McKENZIE (January 18) — NaviRetail of Memphis was contracted through the McKenzie Industrial Development Board to conduct an analysis of retail business in the community and help the city to develop a plan to fill the gaps in retail and attract additional retail businesses.
Casey Kidd, founder of NaviRetail, made a presentation to business leaders on Friday at the historic Park Theatre in McKenzie. He said his company uses various methods to analyze traffic and shopping patterns, and where customers come from to shop in McKenzie.
NaviRetail helps communities realize their retail potential through the use of research,  consulting, and  representation. The analysis used 67 segments of psychographic research.

McKenzie has a population of 5,500 with a daytime population of 6,100. However, retail in McKenzie is fulfilling only a fraction of the retail needs. The retail term is called shrinkage when local residents travel outside the local market or shop online to make purchases.
He encouraged retailers to have store hours for evenings and weekends to attract customers who work. He also encouraged retailers to advertise and market on various platforms including social media and traditional media.
During the question and answer, Casey and an associate said the community must be ready for retail development with proper zoning, necessary utilities and other infrastructure, and available building sites or existing buildings.
NaviRetail is contracted to serve McKenzie for a period of one year. For more information, contact Monica Heath at 731-352-2004.