The second in a series of updates on a campaign to save The Flea Market at Eastern Market from redevelopment, this report will be the first summarizing testimony of consultants, hired by flea market owner Diverse Markets Management, LLC (DMM), before the D.C. Zoning Commission recently.
The testimony was in support of opposition to the developers' "planned unit development," which would cut "by two-thirds the space for vendors and customers, eliminating 38,000 square feet of market space from the current configuration," of the Flea Market at the Hine Junior High School site at 7th and C Streets, SE, where it has operated for 20 years, according to DMM President Michael Berman in introductory remarks.
Previously estimating total annual visitors to the Flea Market "to be 432,667, the re-configuration would reduce visitation to an estimated 233,244 visitors, for a reduction of 46 percent," reported Owens Economics, LLC in testimony presented by Company Principal Bill Owens.
"Total visitor spending attributable to Flea Market visitors was previously estimated to be $29.2 million," Owens said. "With re-configuration and the resultant decrease in the number of visits, total expenditures would drop to an estimated $15.9 million."
Visitor spending estimates were derived, he reported in accompanying tables, from surveys conducted at the Flea Market by WB&A Market Research, a respected market research company based in Crofton, MD. "The overall purpose was to determine how much money visitors spend in Washington on days they visit the market," reported WB&A in testimony presented by Company President Steven Markenson.
"A total of 435 surveys were conducted by WB&A's professional interviewers" on Sundays in late May and early June, Markenson reported. 170 surveys were completed from residents of Washington, D.C. only; 188, from residents of the Washington, D.C. Metro Area, excluding those living in the District; and 77 from Outside Metro Area.
"A typical visitor spent an average of $72 at the Flea Market on the day they were surveyed," WB&A reported. "Visitors spent on average an additional $73 in Washington, DC....about $145 for the typical visitor."
Significantly, "Of visitors who were not Washington, D.C. residents, the majority (89%) were drawn to visit Washington, D.C. in part by the Flea Market. In fact, more than one-half (57%) said it was either a primary reason or the only reason for their visit."
Many were repeat customers. "The average visitor has visited the Flea Market about 16 times in the past year." And "almost two-third said they would visit much less frequently" were Flea Market product offerings significantly diminished.