Data release may help Greater Grand Forks businesses craft plans for future - Grand Forks Herald

The data was recently posted to the Grand Forks-East Grand Forks Chamber of Commerce's website — gochamber.org — and is poised to help local businesses make the adaptations they need to survive both big-picture market shifts and the coronavirus pandemic. The data tracks where customers in the region come from, where in Grand Forks they visit and even offers general demographics about them — even down to political affiliation and age.

The data is expected to help businesses hone their pitches to customers without so much guesswork. For example, said chamber President and CEO Barry Wilfahrt, a family fun center might design a new attraction around trends in the data, or make some other subtle change to better tap into the local market.

"I also think this is good timing, because the pandemic has accelerated some of the changes that local businesses are experiencing," Wilfahrt said. "Every business right now is doing a self-examination of, 'What can I do internally?'"

But even without the pandemic, the Grand Forks economy has been shifting for years. Mark Schill, a consultant with Praxis Strategy Group, ticked through some of the larger themes on Tuesday — more manufacturing, and the same pressures on retail business that cities everywhere are facing, like the rise of internet commerce.

listen live

watch live

The data will also likely be of interest at City Hall. One point Schill noted in the travel data was that visitors to the downtown area often stay at hotels and shop along the 32nd Avenue South corridor as well — a strong argument for the value a downtown area provides for the community.

The timing of the release is also important for city leaders, who at present are formulating next year's budget — spending that depends heavily on factors like local sales tax revenue. City Administrator Todd Feland remarked shortly after the meeting that the data is a welcome addition to help the business community grow.

"Who knew the pandemic was coming along?" Feland said. "And then we get these additional charts that show just where we were at."

The data comes out after more than a year of planning by local leaders from both sides of the Red River, and comes with a price tag of $90,000 — paid jointly by the local chamber, the cities of Grand Forks and East Grand Forks, the local Convention and Visitors Bureau and the regional Economic Development Corporation. The groups paid $50,000 to purchase Buxton data and $40,000 for its analysis.

The data itself is significantly more detailed than initially expected, especially regarding the demographics of visitors and customers. Schill said that data was added alongside the cell phone tracking data from Buxton, a Texas firm.

Schill also noted that access to Buxton data only lasts for several more weeks, and that local leaders have not yet purchased further access.

Let's block ads! (Why?)

"craft" - Google News
July 15, 2020 at 04:00AM
https://ift.tt/3h2NU5k

Data release may help Greater Grand Forks businesses craft plans for future - Grand Forks Herald
"craft" - Google News
https://ift.tt/2YrY2MS
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update

Bagikan Berita Ini