Business First of Columbus wrote High on Hilltop’s consumer power
Friday, October 26, 2007
Retail consultant Chris Boring’s eyes were opened wide when he looked at some of the numbers emerging from a market analysis he’s conducting of the Hilltop-West Broad Street corridor in Columbus. The study reveals surprisingly powerful consumer clout in an area where the buying power and demographics seem to be overlooked by restaurants and retailers.
Nearly a third of the 30,000 households on the Hilltop earn at least $50,000 a year, which is about $6,000 more than the city median. The analysis also shows the Hilltop’s 67,000 residents will spend an estimated $525 million on retail purchases this year.
The Hilltop is underserved by the kind of restaurants and stores preferred by middle-class residents in the neighborhood. Hilltop leaders plan to draw on the findings from Boring’s report as they attempt to improve the area’s business environment.