Retail Opportunities
Yorktown currently lacks several amenities and retail shops. The town’s residents spend approximately $24 million at grocery stores and restaurants/eateries outside of Yorktown¹, which shows there is plentiful market opportunity for these kinds of shops within the town limits.
Grocery & Specialty Food Stores
Yorktown currently lacks a grocery store. Comparable markets, like nearby small towns of about the same stature, are able to sustain a small grocery store. This suggests Yorktown is a viable marketplace for a grocery or specialty food store. Having a grocery or specialty food store in the downtown area would draw on the high demand found within Yorktown and keep local money within the local economy; residents currently spend more than $21 million on groceries in surrounding areas.¹
EXTERNAL DRIVERS
– Per Capita Disposable Incomes
– Healthy Eating Index
– Per Capita of Specific Goods
TRENDS & FORECASTS
Annual growth is expected to continue in grocery stores, fruit and vegetable markets, seafood markets, and other specialty food stores.
$21,428,694
RETAIL GAP
$11,104,672
RETAIL GAP
Restaurants, Cafés, Breweries, and Delis
Every day, more than 5,000 vehicles drive through downtown Yorktown, and more than 3,000 people come to Yorktown for work. With a large daytime population, cafés, bakeries, delis, and similar eateries would thrive, appealing to workers looking for coffee, breakfast, take-out lunch stops, and places to have lunch with colleagues. Additionally, Yorktown residents expressed desires for more diverse restaurants. Restaurants with varying price points or unique features, like high-end dining destinations or brewpubs, are likely to thrive in the market; Yorktown residents currently spend about $11 million at restaurants in surrounding areas.¹
EXTERNAL DRIVERS
– Consumer Spending
– Consumer Confidence
– Healthy Eating
– Households Earning More Than $100,000
TRENDS & FORECASTS
Coffee shops and full-service restaurants are expected to grow 2% annually
Clothing Boutiques and Stores
Downtown Yorktown currently supports two locally owned boutiques, both of which carry women’s clothing. A clothing store that markets toward men’s, women’s, and children’s clothing would likely succeed in the area without oversaturating the market; Yorktown residents currently spend nearly $3.5 million on clothes in surround areas.¹
EXTERNAL DRIVERS
– Per Capita Disposable Income
– External Competition
– Import Penetration in the Manufacturing Sector
TRENDS & FORECASTS
Some retailers are starting to develop both an online and brick-and-mortar presence
$3,478,147
RETAIL GAP
$2,754,278
RETAIL GAP
Sports, Recreation, and Hobby Stores
Yorktown boasts a strong sports community, with three times more sports industry establishments per capita than comparable towns. But while the town brings in a plethora of youth sports teams and competitions, the town lacks sporting goods and similar stores. Currently, Yorktown residents spend nearly $3 million at sports, recreation, and hobby stores in surrounding areas.¹
EXTERNAL DRIVERS
– Per Capita Disposable Income
– Participation in Sports
– Number of Young People
TRENDS & FORECASTS
Sports participation is expected to continue growing, health consciousness, sporting goods stores with interactive facilities to test out equipment are becoming increasingly popular
