Downtown Management District says store closures create opportunities for small business
EL PASO, Texas– As yet another downtown store gets ready to close its doors, the Downtown Administration District states this could indicate much more opportunities for lesser enterprises.
The CVS pharmacy found at 201 North Mesa Road declared it would be closing on July 15.
According to CVS, the closure is because of to quite a few elements, such as “local marketplace dynamics, inhabitants shifts, and a community’s retailer density.”
All prescriptions will be transferred to the nearby CVS Pharmacy at 5305 Montana Avenue, about 4 miles absent.
This will come days following an additional very well-known downtown store, Fallas Low cost Merchants, also will get all set to shut down.
ABC-7 spoke with the Govt Director of the Downtown Administration District, Joe Gudenrath, who stated this demonstrates the truth of the modifying retail market place.
He said Fallas is a troubled organization nationwide, and its challenges are additional sizeable than the El Paso current market.
Even though it was a considerable asset to our downtown customers, Gudenrath said this makes new alternatives for redeveloping the creating.
He explained the switching retail marketplace and the border website traffic will pressure additional enterprises to rethink their functions.
He encourages residence owners to figure out the evolution of our downtown and capitalize on it.
“Today, we have far more hotel attendees than we’ve at any time experienced, we have far more celebration targeted traffic than we have at any time experienced, so while classic border retail traffic is likely battling appropriate now much more than at any time.. there are possibilities to tap into new client bases,” mentioned Gudenrath.
He mentioned lodges maintain business enterprise steady in the location, supplying smaller businesses a excellent likelihood to open up with decrease road blocks.