9. Appendix F - Economic Impact Assessment

iv.   Table 2.4 details the traditional retail expenditure levels generated by the Noosa total trade area
      population. Total trade area retail spending is currently estimated at $1.9 billion and is projected to
      increase to $2.4 billion by 2031 at a rate of 1.7% per annum (constant 2018 dollars and including GST).

v.    The projected growth rate in retail spending of 1.7% per annum for the Noosa main trade area takes
      into account the following:

       Real growth in retail spending per capita of 0.5% annually for food retail and 1.0% for non-food retail.

       Total trade area population growth of 0.9%.

vi.   Table 2.5 details the total trade area retail expenditure generated by key commodity group, with Table
      2.6 outlining large format retail expenditure levels generated by the Noosa total trade area population.

vii. The large format retail spending market includes the majority of household goods traders (with the
      exception of glassware/tableware and home decoration), as well as sporting goods and auto
      accessories and also incorporates the majority of expenditure directed to large format retailers and
      showrooms throughout the region. Examples of such spending include:

       ‒         Lighting                                            ‒     Hardware

       ‒         Flooring and tiles                                  ‒     Electrical goods

       ‒         Kitchen appliances and whitegoods                   ‒     Sporting goods

       ‒         Bathrooms and accessories                           ‒     Auto accessories

       ‒         Curtains and blinds                                 ‒     Toys

viii. The total trade area large format retail expenditure is currently estimated at $396.0 million and is
      projected to increase to $510.3 million by 2031. As shown in Chart 2.3, large format retail expenditure
      per capita within the main trade area is higher than both the South-East Queensland and Australia
      benchmarks.

ix.   Given the significant residential development occurring throughout the total trade area, the total trade
      area contains many households in the formation cycle (i.e. new homes) that typically have a high spend
      on large format retail products in the initial two years of homes being completed.




      Noosa Marketplace, Queensland
      Economic Impact Assessment                                                                           32
      May 2019