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As prepared by Nielsen Claritas for 2011, an analysis of retail spending patterns in Lexington suggests that opportunities for retail expansion may exist in several categories; which is based on a shortage calculated by estimated retail demand (derived from the Bureau of Labor Statistics’ Consumer Expenditure Survey patterns) exceeding local supply (derived from the US Census Bureau’s Census of Retail Trade). Gaps in several sectors may represent local retailing opportunities:

  • General Merchandise ($15.6 million estimated opportunity in sales: 52,000 square feet of store space calculated at industry standard measurement of $300 in sales per square foot of retail space)
  • Food and Beverage Stores ($14.1 million in sales: 47,000 square feet of store space)
  • Clothing and Clothing Accessories Stores ($9.5 million in sales: 31,000 square feet of store space)
  • Electronics and Appliance Stores ($3.6 million in sales: 12,000 square feet of store space)
  • Sporting Goods Stores ($2.6 million in sales: 8,700 square feet of store space)
  • Motor Vehicles and Parts Dealers ($25 million in sales)
Additional population and statistical information can be found at the NC Office of State Budget and Management or at the US Census Bureau's QuickFacts for Lexington, NC

Population: 19,001
Land Area 18 square miles
Businesses 1,790
Industries 29
Dwelling Units 8,938
Age: 60% workforce age (18 to 65)
25% under age 18
  15% over age 65
Interested in learning more about Lexington?  Please contact the Office of Business and Community Development for information and assistance in opening a business in Lexington. 

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Last updated: 7/30/2012 4:08:04 PM