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LOC <br />CONSULTING <br />Market Analysis for Downtown Redevelopment <br />City of Centerville Economic Development Authority <br />April 3, 2023 <br />2.19 Forecasted Growth in Consumer Spending in the PMA, 2022-2027 <br />Household and Personal Care <br />_ <br />Furniture and Home Improvement <br />- <br />Pharmacy <br />Liquor <br />Restaurants <br />Groceries <br />Books <br />Sporting Goods <br />' <br />Toys <br />Pets <br />Electronics <br />_ <br />Apparel and Accessories <br />- <br />$0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 <br />Data is shown in 2022 Dollars, adjusted from ESRI projection. ESRI assumes 2.5% inflation. <br />Source: US Census Bureau; ESRI; LOCI Consulting LLC <br />■ For the purposes of our demand analysis, LOCI <br />Consulting uses a 15% figure. We believe this will <br />be the average percentage over the 2022 to 2027 <br />period. <br />■ As more retailers transition to "omnichannel" <br />formats, consumer demands for e-commerce <br />options will continue to grow. There will always <br />be "Amazon -proof' businesses that will ensure <br />that much of retail is still done in brick -and - <br />mortar locations. And retailers will limit e- <br />commerce options because the economics of e- <br />commerce can be challenging —margins for goods <br />sold online are generally lower. But consumers <br />will continue to demand the convenience that <br />these channels offer, and we believe growth will <br />continue. <br />Page 36 <br />