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CONTRACT NO. K-1314-122: A CONTRACT BY AND BETWEEN THE CITY OF NORMAN, OKLAHOMA, AND THE RETAIL COACH IN THE AMOUNT OF $27,000 FOR THE PURPOSE OF CONDUCTING A RETAIL MARKET ANALYSIS FOR THE CITY OF NORMAN AND BUDGET APPROPRIATION.
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BACKGROUND: On September 6, 2013, the Council Business and Community Affairs Committee (BACA) agreed to move forward with a Request for Proposal (RFP) for a Retail Market Analysis to analyze the current retail environment in Norman and identify retail gaps. Staff received proposals from three national firms in response to RFP 1314-37 to conduct a Retail Market Analysis.
ANALYSIS: The distributed RFP outlined eight (8) items that the consultant will include as part of their final analysis and report. These items include:
? Analysis of existing conditions in Norman, including identification of consumer expenditure patterns and areas of leakage;
? Determination of the retail trade area of the Norman market;
? Retail gap analysis for the Norman market;
? Trade area demographics;
? A psychographic profile of trade area consumers;
? Identification and selection of high priority business categories to target recruitment efforts and/or local expansion;
? Future retail space requirements in relation to the retail market analysis, the market's growth potential and trends in the retail industry;
? Identification of specific candidate retailers and potential developers to be targeted for recruitment.
A RFP Review Committee comprised of the City Finance Director, City Development Coordinator and the City Manager reviewed the submitted proposals. Upon final discussion and review, the Review Committee selected The Retail Coach to enter into negotiations for a contract for services.
The proposals were evaluated on the following:
? The firm's specific approach to the project;
? Applicable experience in retail market analysis and in providing retailer and developer recruitment services for compara...
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