OUR TURN: Early research gives signposts to Marble Falls merchants

A groundbreaking survey commissioned by the Marble Falls Economic Development Corp. about local shopping habits is saying a lot about how residents and their neighbors spend money.

But to keep some of those dollars here, the EDC is going to have to walk a fine line by counseling local businesses on effective retail strategies, while also bringing in the right mix of new outlets without driving existing stores out of business.

Only time will tell how effective the process will be.

In the end, most consumers will be happy as long as they can find the goods they need at a decent price without leaving town.

The research is a good start. Without a doubt, EDC officials will begin sharing the data as it becomes available.

In the meantime, three consumer trends have emerged. Marble Falls is the place people go in the Highland Lakes to spend money on booze, at lumberyards and hardware stores and for household appliances.

But that’s just a start. The “demographics on steroids” supplied by The Retail Coach could turn into a gold mine for the EDC and other city organizations dedicated to supporting existing businesses, attracting new ones and answering customers’ needs so consumers will shop locally.

As it stands, the research indicates locals are spending more than $240 million outside the greater Marble Falls area, perhaps because of a perception — real or imagined — that they can’t find what they’re looking for in a “small town.”

It will be up to the EDC and other organizations, including the City Council and the Marble Falls/Lake LBJ Chamber of Commerce, to change this viewpoint.

Be careful, though. Established merchants might take a dim view of any government effort to bring in companies that will compete with existing businesses.

Yet at the same time, there has to be some new retail blood if the economy is to grow.

The EDC’s other solution could be to convince current businesses to close the so-called retail gap by stocking those items local customers leave town to look for elsewhere.

Regardless, a balance must be struck, and perhaps the wisest solution is for the EDC to first encourage established businesses to become more successful. The information from The Retail Coach will help those store operators determine what it is consumers want and even how much they’re willing to spend.

The research confirms what most already knew — Marble Falls is the retail hub for the Highland Lakes, drawing consumers not only from that city but also from Bertram, Burnet, Johnson City, Kingsland, Llano and Smithwick.

That’s a plus for Marble Falls and a foundation on which officials can build.

Getting people near and far to spend more money in Marble Falls ensures economic survival for all of the Highland Lakes. The EDC must keep existing merchants in mind, but the retail gaps — for items such as children’s wear, sporting goods, bicycles and mobile homes — give the nonprofit a reason to approach other businesses and encourage them to relocate.

That strategy also is in keeping with the nonprofit’s mandate — to attract businesses to Marble Falls and get them to stay.