Retail

Virginia's Gateway Region is part of the thriving Richmond Metropolitan Statistical Area (MSA), home to more than 1.3 million people and growing. All the amenities expected in a high-quality lifestyle center are available here, and then some. Find boutique shopping districts, indoor and outdoor malls, and other high quality shopping experiences. 

Explore a Strong & Diverse Market

Why open a new or expanding retail business here?

  • Steadily growing consumer base: The Richmond MSA total population sees a consistent increase of 1.3% each year
  • Consumers have the cash: The median household income is $59,919 which is 11% higher than the national average
  • The area "piggybank" continues to grow: Total wages in the MSA have increased 39% over the past 10 years and continues to see steady growth
  • Reliable business location: Diversified in multiple industries and home to a major Army post, the Gateway Region has a steady supply of consumers in a historically stable economy.
  • Unfulfilled retail gaps: With an urban retail core surrounded by decreasing density out to the rural areas, many consumers are practiced in driving to the core, offering opportunity both there and in the underserved rural areas as well
  • The roads are clear: Especially compared to the the top urban areas in the country, the Gateway Region is easy to traverse by car. With an average commute time of 25 minutes for 25 miles, the general travel time in the region tends to be a mile a minute, putting stores within reach of the entire regional consumer base
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Find the Right Storefront

Where do they shop?

Boutique Shopping Districts

There's no shortage of interesting sights and character in classic shopping districts in the region. Downtown Petersburg is host to a diverse selection of shops and businesses in a restored national historic district with so much character it routinely serves as a set for the filming of colonial and antebellum era movies and TV shows. Downtown Hopewell is fortunate to be steps from the confluence of two rivers and water recreation, and has its own collection of restaurants, shops, business offices, loft apartments and entertainment options like the beautifully restored Beacon Theatre, attracting thousands monthly for big music and other entertainment shows.

Indoor Shopping Malls

The traditional shopping experience has a prominent presence in the region with the centerpiece Southpark Mall and surrounding retail center, and the Chesterfield Towne Center, located farther north in the region. These malls have had strong and steady sales over the years and are home to the major department stores such as Dick's Sporting Goods, Dillard's and Macy's, and indoor mall stalwarts like Lenscrafters and Victoria's Secret or other similar-sized independent retail storefronts. They also serve as retail magnets for Big Box retail located next door, like Walmart, Sam's Club and Target.

Outdoor Shopping Experiences

With Stony Point Fashion Park located within just a 10-20 minute drive of much of the region, there is a place to buy the nicest of your clothes and to take the whole family for weekly events in coordination with the businesses in the park. Stores like Saks Fifth Avenue, Brooks Brothers, Banana Republic and more line the well-manicured outdoor shopping park, with seasonal centerpieces and programming. Not much farther drive (or ferry ride) away in Williamsburg are the Premium Outlets, with the same names above and many more, conveniently located in one place. Visit the historic Jamestown colony or walk the streets of historic Williamsburg while you're there! Additional premium outlets will soon be available north of the City of Richmond as well.

Selected Occupations Employment & Wages

 Occupation (SOC) Regional Avg. Wage National Avg. Wage Current Employment Extended Employment*
Retail Salespersons (41-2031) $24,300 $26,300 22,144 1,946
Cashiers (41-2011) $19,500 $21,000 17,524 22,535
Combined Food Preparations & Serving Workers, Incl. Fast Food (35-3021) $19,400 $19,700 15,717 26,691
Food Preparation Workers (35-3021) $21,900 $22,100 4,472 66,295

*Includes trainable persons currently employed in occupations with relatable skills 
Source: Bureau of Labor Statistics, Chmura Analytics, Q3 2016; latest data as of Jan 1, 2016

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