Retail There is 1.3 million square feet of retail space along East Berry Street. Most of the newer space was completed during the 2010s, with 35.2% of the total share of retail space built during this decade. The next most active period for retail construction was before 1970s. The 1.3 million square feet of retail space in the study corridor area comprises one-quarter of the total in the influence area. Retail Leakage Retail leakage refers to the difference between the retail expenditures by residents living in a particular area and the retail sales produced by the stores located in the same area. If desired products are not available within that area, consumers will travel to other places or use different methods to obtain those products. Consequently, the dollars spent outside of the area are said to be “leaking.” If a community is a major retail center with a variety of stores it will be “attracting” rather than “leaking” retail sales. The graphic below shows the most recent data on retail sales and consumer expenditures along East Berry Street. The study area had retail export of $78.2 million over the previous year, meaning that the corridor attracts non-residents to fulfill their needs for retail goods and services.
Figure 5. Leakage Analysis
Renaissance Square
34 | East Berry Corridor Study
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