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SALES POTENTIAL CONVERTED TO SPACE DEMAND <br /> Using the average sales per square foot figures, sales leakage can be converted into estimated <br /> demand for retail square footage.Of course downtown will not be able to capture back all of the <br /> retail sales dollars that are now currently going out of town and to catalogs. However, with <br /> improved designs,quality promotions and an aggressive retail retention and recruitment program, <br /> a percentage of recapture is certainly likely.To be conservative,many communities use 10%as <br /> the estimated capture in this formula. <br /> To Do: <br /> Calculate the potential new retail space demand downtown. <br /> Trade Area: <br /> Product Category: <br /> Leakage of Sales Volume From the Trade Area: <br /> (Source:retail sales potential analysis) <br /> % of Leakage that <br /> Downtown Businesses Could Capture: X <br /> (Source:local estimate) • <br /> equals Potential Additional Downtown Sales: _ <br /> divide by Estimated Sales Per Square Foot: <br /> (Source:Dollars and Cents of Shopping Centers <br /> or local estimate) <br /> equals Potential New <br /> Retail Square Footage Downtown = <br /> Comments: <br /> STEP BY STEP MARKET ANALYSIS-39 <br />