A study commissioned by the North Windham town council to gauge the performance of the town's retail and restaurant activity says that the area is poised for growth and could possibly bring in as much as $1 billion annually.
Based on data from over 50 retail sectors, Dallas-based commercial analysis firm The Retail Coach says that current annual revenues of almost $300 million have the potential to triple if North Windham focuses on rounding out its retail offerings to expand into unrepresented sectors like mobile home dealers or luggage stores, according to the Lakes Region Weekly.
The Retail Coach's "retail gap analysis" of North Windham, which showed annual sales of $292 million last year, projected a revenue potential of $1 billion based on current retail activity and an potential influx of shopper from neighboring retail destinations like Freeport and South Portland.
The report is part of a 15-month, $38,000 contract between the Windham Town Council and The Retail Coach aimed at strengthening and growing the local retail industry.
Aaron Farmer, vice president of The Retail Coach, will meet with local business and government officials in August to discuss the findings of the retail gap analysis.