Retail Forum Reveals Top Ten Opportunities for Leesburg

Attendees of the Leesburg Economic Commission’s Retail Opportunity Forum at the Wednesday, May 2, received a retail market analysis for the town, highlighting unmet retail demands that local retailers can take advantage of within the local market.

A gap analysis, household expenditures, demographics and population growth projections were also provided. 

“One of the trends I always hear from Leesburg residents is how much they love Leesburg because everything is here,” said Economic Commission member Ara Bagdasarian. “This shows you the things that are not here, yet, that will keep them here even more.”

During the presentation, Bagdasarian said there has been a "leakage of sales" within Leesburg. This means that dollars are leaving the local community and going toward items that might not be readily available in the town.

Bagdasarian introduced the top 10 opportunities for Leesburg to attract a large amount of local consumer dollars:

• Sporting goods
• Furniture and sleep equipment
• Kitchenware and home furnishings
• Computer hardware, software and supplies
• Jewelry
• Packaged liquor, wine and beer
• Flooring
• Audio equipment and musical instruments
• Photographic equipment and supplies
• Curtain, draperies, blinds, slipcovers, etc.

Economic Development Commission Vice Chair Jim Sisley said studies show local residents are traveling 15 minutes to 30 minutes, or more, to find these products. The goal, he said, is to allow more people to buy locally.

Currently, the top surplus categories for Leesburg include groceries, powered transportation, footwear, tobacco, paper and other related products. 

“It’s a great community and you should feel good about spending your money here because there are entrepreneurs, there are small businesses. It’s a ‘shop local’ kind of thing,” said Leesburg Economic Development Manager Marantha Edwards.

Edwards said she hopes current property owners gain a better appreciation for where the opportunities are and that existing businesses have a better understanding as to how they can change the elements of their business and what Leesburg has to offer.

"The Historic District in Leesburg is the original town center of Loudoun County," said Butch Porter, president of the Leesburg Downtown Business Association. "Potential retailers are looking to be a part of something authentic. We're not a museum. We're the place where everyone wants to have a shop."

Porter said Wednesday's presentation served an important purpose: Business owners and development professionals now have a better understanding that the town can serve as a resource in forming retail business plans.

“Typically small businesses don’t conduct this type of analysis. They don’t have access to these resources. So that’s why this information is so valuable to them,” Bagdasarian said. “I’m hoping that we have a much fuller retail mix in the Town of Leesburg so people don’t have to drive 20 minutes outside the town to buy things.”