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2.0 Market Study <br />This section of the report presents the findings of the market research for Ellensburg and sets the <br />stage for further analysis that can be used to recruit business, enhance the housing market, help <br />existing retailers target customers, and implement the accompanying marketing and recruitment <br />strategy in a later section of this report. The goal of this market study is to show community <br />stakeholders and potential investors how to capitalize on potential residential, retail, and office <br />market opportunities and to levemge investments that will sustain the Ellensburg community <br />while preserving the character that the community values. <br />Chapter 2 is divided into four sections: <br />Section 2.1 describes the market definition based on zip code survey work completed by <br />businesses in the community. It also provides insight into Ellensburg's trade area demographics <br />and presents market data related to Ellensburg's primary and secondary trade areas. <br />Section 2.2 provides demographic profiles of Ellensburg's primary and secondary trade areas, <br />This section also presents a more detailed market segmentation using PRIZM@ Lifestage <br />characteristics. (PRIZM@ is a product of Nielsen Claritas.) <br />Section 2.3 presents the retail market analysis that shows the amount of retail sales "leaking" <br />from Ellensburg's primary and secondary trade areas. This information is based on the most <br />recent data available and is a reliable source for understanding overall market patterns. This <br />section concludes with some key opportunities for retail that could be used to both enhance <br />existing businesses and recruit additional businesses to the Ellensburg community. This section <br />also leverages Ellensburg's retail and demographic data to evaluate other market segments such <br />as residential and office uses. <br />Section 2.4 provides a concise conclusion to the overall market analysis. <br />5