I do not think the Bay will ever be a shopping destination, big retailers today are looking to maximise profits and will only invest in established proven areas, however that said I think there is potential in smaller shops catering to the day tripper market, its up to CB to find what these markets are, .... artisan art, antiques, cafes etc.
They have to capitalise on the new beach/facilities and the town.
On a recent visit I noticed a lot of empty properties whose grounds where overgrown, encroaching on to the pavement, and full of litter, the same with a lot of the rental properties, the owners should be forced to rectify these problems, that would be a good starting point.