Introduction | Buying Power | Grocery Store | Drug Store | Market Studies | Conclusion & Sources

This study analyzed the marketability of the Mystery District, and determined that a drug store is not only needed, but has the potential to thrive in the downtown. The group compared the Mystery District with three other Muncie neighborhoods, all three containing a drug store. The three drug store locations are at the intersections of Memorial & Madison, Jackson & Tillotson, and McGalliard & Walnut. The project determined the buying power of each location by analyzing the demographics within a half-mile of each store and of the Mystery District. The buying power of the Mystery District, within the half-mile radius, is approximately $25 million, which is comparable to the buying power of the other three locations, as can be seen in Figure 4.

Figure 4.
Shows the buying power of a half-mile radius around the Mystery District and three drug stores.

Using similar calculations and assumptions as the previous group, this group found that there is a strong market potential for this kind of service to the area. As seen in Figure 5, the total demand for a drug store calculated for the half-mile radius around the Mystery District is approximately $1.25 million, which is comparable to the figures for the half-mile radii around the other three drug store sites.

Figure 5.
Shows the demand for a drug store within the half-mile radius of the Mystery District and three other sites.

The project also determined that factoring in outside demand increases with each drug store at the same rate; thus, increasing the total demand for a drug store in the Mystery District to approximately $1.5 million, as shown in Figure 6.

Figure 6.
Shows the total demand, including that caused by external forces, for a drug store in the Mystery District and three other sites.

Students Nathan Hooley, Nathan Schmidt, and Brad Teter developed this section.