MCU14/0106 Appendix J - Retail Needs Assessment

The analysis undertaken in Section 5 of this report indicates that residents of the main trade area spent a
total of $1.075 billion on retail goods and services in the 2013/14 financial year. Noosa Civic is estimated
to have derived $112.9 million of its $146.6 million turnover from main trade area residents, thereby
equating to a market share of 10.5% across all retail categories. As would be expected the market share
from the primary trade area is higher at 16.8%, whilst from the secondary sectors combined the share of
available expenditure directed to Noosa Civic is, on average, 8.4%

Perhaps the most notable outcome, and a corollary of the market shares outlined above, is that
approximately 90% of residents retail spending is currently directed to centres other than Noosa Civic,
including centres within the trade area as well as further afield. The Quantium data and the escape
spending analysis demonstrates that a relatively high proportion of the pool of spending directed to other
centres is ‘leakage’ to centres such as Nambour, Maroochydore and Brisbane. In each case, this involves
a round trip of at least a one hour drive.


Centre Market Shares by Trade Area, 2014
NOOSA CIVIC SHOPPING CENTRE, INC GST                                                                          TABLE 6.2
                                  Resident Spending ($M)               Market Share            Forecast Turnover
                                  Food Non-Food Total           Food    Non-Food      Total   Food Non-Food Total
  Primary                         164      132        296       14.5%     19.6%       16.8%   23.8     25.9     49.7
Secondary
  North East                       87       73        159        4.7%     12.7%       8.4%      4.1     9.2     13.3
  South East                      139      113        252        1.9%      6.5%       4.0%      2.6     7.4     10.0
  South                            81       70        151        7.9%     11.6%       9.6%      6.4     8.1     14.5
  North West                      119       97        216        8.8%     15.4%    11.7%      10.4     14.9     25.3
  Total Secondary                 426      352        778        5.5%     11.2%       8.1%    23.6     39.6     63.2

Main Trade Area                   590      484       1,075       8.0%     13.5%       10.5%   47.4     65.5    112.9
% from beyond trade area                                        21.0%     24.3%    23.0%      12.6     21.1     33.7

Total Centre                                                                                  60.0     86.6    146.6
So urce : Quantium Data ; Urbis




6.3          SUMMARY
Noosa Civic derives a total of 77% of its turnover from main trade area residents. Approximately 23% of
its turnover is spent by those who reside outside of the trade area, including interstate and overseas
visitors and those from the Sunshine Coast and Hinterland areas.

This demonstrates that Noosa Civic is a centre that mainly provides for the local community, with a lesser
focus on tourist trade. It therefore performs a complementary role to centres such as Noosa Junction,
Noosaville, Tewantin and Hastings Street which benefit from a much higher level of tourist trade as
outlined in section 4.

The centre’s market share from the main trade area is currently 10.5% which also means that 90% of
expenditure is directed elsewhere. A relatively high proportion of this residual spending is not spent
locally. It is ‘escape spending’ to locations such as Nambour, Maroochydore, Brisbane and through online
channels.




URBIS
NOOSA CIVIC - RETAIL NEEDS ASSESSMENT DEC 2014 MASTER - FINAL                                  CURRENT TURNOVER PERFORMANCE   97