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25 | P a g e <br />Understanding Little Canada’s Local Economy <br />2022 Retail Trade Analysis <br />In 2024, the City of Little Canada engaged the University of Minnesota Extension to conduct a <br />Retail Trade Analysis (RTA) using 2022 retail sales data. An RTA evaluates local retail sales <br />performance by comparing actual sales activity to expected sales based on population and <br />income characteristics. This comparison produces a “pull factor,” which indicates whether a <br />community is capturing more or less retail spending than anticipated for its size.. <br />1. Retail Strength has increased since 2011. <br />Little Canada’s pull factor of 1.07 in 2022 indicates that the city captures more retail sales <br />than expected for a community of its size. <br /> <br />2. Relative to comparable7 Minnesota communities, Little Canada performs strongly <br />overall. <br />Retail sales are 22.9% higher than expected. Several categories function as net “draw” <br />sectors, including Furniture, Electronics & Appliances, Personal Services, and Leisure <br />Goods/Misc. Stores. <br /> <br />3. Despite overall strength, leakage persists in key everyday categories. <br />Residents appear to leave the community for both grocery purchases (Food & Beverages) <br />and dining (Eating & Drinking), indicating potential areas for additional retail <br />development. <br /> <br />7 The peer communities referenced in the Retail Trade Analysis are defined by the methodology of that report and <br />differ from the peer group used elsewhere in this document. The RTA comparison set is based primarily on <br />population size and includes communities outside the Twin Cities metropolitan area, which may operate under <br />different economic conditions.