Primary Retail Trade Area
Pecos’ primary trade area (PTA) population is estimated at 25,584 and is projected to grow to 26,748 by 2019. This population’s average household income is $55,752 and the median household income is $42,746. It consists of many lucrative blue-collar jobs that allow residents discretionary cash to spend on retail goods and services. The average age is 37.3, and more than 64 percent of the population has a high school diploma or higher education. The average household size is 2.68, and the median value of owner-occupied housing is $47,379.
Pecos’ total annual retail sales are just over $215 million, reflecting leakage of -33 percent with potential sales estimated at more than $319 million.
The oil/gas industry is one of the strongest economic drivers of the Pecos PTA. It has spurred additional retail and commercial development in the area, attracting consumers to Pecos from across Texas and neighboring states. However, retail needs are not being fully met, with more than $104 million in retail sales leakage annually. This leakage is present in all sectors except food and beverage stores, gasoline stations and general merchandise stores.
Pecos is home to four distinct retail trade submarkets: the historic downtown submarket, the Eddy Street submarket, regional Highway 285 submarket and Interstate 20 submarket. Each has land available for development, including frontage property in the regional Highway 285 and Interstate 20 submarkets. Land and building costs are inexpensive when compared to surrounding areas, and property taxes in Pecos are significantly lower than in nearby communities—two benefits that make Pecos an ideal location for retailers.
Retail Trade Area Report
Information compiled by The Retail Coach. Updated October 2014.