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• <br /> Nearly 39% of Elk River's gross retail sales in 1992 was attributable to <br /> food stores. This represented $35.89 million in sales <br /> - Another 30% (or $27.87 million) is derived from automobile dealers <br /> and service stations <br /> - After the food store category and the automotive category, the retail <br /> sales in Elk River drop off sharply. "Miscellaneous retail" (which <br /> includes "general merchandise stores") accounted for $12.42 million (or <br /> 13.43%) of the 1992 sales in Elk River. Lumber and hardware stores <br /> generated $7.3 million in gross sales (or 7.9% of Elk River's total). <br /> This was followed closely by the $6.98 million reported by Elk River's • <br /> eating and drinking establishments which accounted for 7.54% of the <br /> 1992 total retail sales. Apparel and accessory stores realized $1.13 <br /> million in sales (or 1.23% of the total). About 1% ($883,275) was <br /> reported by the furniture and home furnishing businesses in Elk River <br /> The Standard Industrial Classification (or SIC Code) categorizes retail <br /> • businesses as follows: _ • <br /> • <br /> TYPE OF RETAILER • SIC • • •• • <br /> Lumber, hardware, etc. 52 <br /> • General merchandise stores 53 <br /> Food stores 54 • <br /> Auto dealers, service stations 55 <br /> Apparel and accessory stores . - • 56 <br /> Furniture/home furnishings 57 <br /> Eating and drinking establishments 58 <br /> Miscellaneous retail 59 <br /> RETAIL OPPORTUNITIES IN ELK RIVER <br /> It is difficult to estimate how many "retail dollars" are leaving Elk River for <br /> the regional shopping malls which are "home" to retailers such as general <br /> merchandise stores and apparel and accessory stores. It is _these general <br /> categories where Elk River's sales numbers tend to drop off. However, as <br /> power centers such as Elk Park Center open, it is likely that additional <br /> apparel and accessory stores and general merchandise stores will be located <br /> in Elk River. This in turn, will help attract retail dollars in to the community <br /> from the surrounding area. Elk River residents will still rely perhaps on <br /> regional malls for the primary shopping experiences. • <br /> The other elements which help drive retail sales are that of population <br /> growth and disposal income. Given Elk River's rapid growth over the past <br />