15. APP J. Economic Needs Report

4 TRADE AREA ANALYSIS: POPULATION AND RETAIL
  DEMAND

This section of the report examines the Trade Area that is likely to be served by the proposed neighbourhood
centre. The trade area population, socio-demographic profile of the population and the retail expenditure levels
on relevant product categories are considered. Also considered are the non-resident demand generators
relevant to the proposed centre, namely local business demand and employee demand.


4.1 DEMAND GENERATORS
Retail demand (expenditure) is a function of a Trade Area’s permanent population and its demographic
characteristics as well as other factors such as passing trade (e.g. tourism expenditure) and demand generated by
nearby businesses and workers. Given the generally urban nature of the locality, without any significant tourism
attractors (e.g. destinations, short-term accommodation etc.), the vast majority of the relevant demand for the
proposed centre will be driven by the following factors:
    •    Trade Area Residents: the vast majority of demand is likely to be generated by the permanent residents
         of the Trade Area. This is for reasons of proximity and convenience, given that the proposed Centre is
         located on a major vehicular access corridor;
    •    Precinct Workers: The proposed retail centre is located in close proximity to a significant node of
         regional employment, namely the Noosaville Industrial Estate. The area accommodates a considerable
         workforce of whom a significant proportion is likely to live outside the Trade Area and therefore, travel
         to work;
    •    Precinct Business Expenditure: Just as precinct workers will contribute to overall demand, so too does
         local business activity. Expenditure by businesses on goods and services typically comprises between 1%
         and 5% of major employment centres’ turnover; and
    •    Through traffic (external to Trade Area). This is a particularly important consideration given the location
         of the proposed centre on an important thoroughfare connecting the populations to the west with
         Hastings Street, Noosa. It can be noted that Eumundi Road is one of the main access points into Noosa
         but more importantly it is the thoroughfare for residents and visitors to travel to the internationally
         renowned Eumundi Markets, which are held Wednesday and Saturday. A considerable number of
         visitations each week (~1,000+) travel to these markets from the Noosa locality.


4.2 DEFINING THE TRADE AREA
The scope of the trade area or retail catchment served by any shopping centre is a function of a number of inter-
related factors. These factors include, but are not limited to the following:
    •    The relative attraction of the subject development compared to alternative competitive retail facilities.
         Factors that impact on the relative attractiveness of a retailing facility include the scale and composition
         of the centre, and the traders that are active within the centre. Other important attributes are centre
         layout, atmosphere/ambience, car parking and access;
    •    The relative proximity of the subject development and other competitive centres also impact on a
         centre’s ability to extend its trade area. The location, composition, quality and scale of competitive retail




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