Prepared on December 04, 2018
Establishment Count (over time)
Total number of businesses and establishments within the defined trade area over the past eight quarters. Business growth or contraction is a reflection of the economic conditions for a particular area. Areas experiencing an increase in new businesses or businesses moving into an area suggest favorable economic conditions. Business unit estimates from the three U.S. agencies (U.S. Census, Bureau of Labor Statistics, U.S. Postal Service) are analyzed in a sophisticated mathematical process that correlates the three databases. The end result is a single workplace estimate for each market. The estimate is then expanded to the current quarterly timeframe using ZIP+4 postal data and historical averages. This is done at the market level, not at the national level. Workplace estimates are more relevant for market research purposes when they are analyzed down to the local level.
Total Households (over time)
Historical counts and forecasts of number of households in an area.
Household size describes the number of people living in a typical home, including children, parents, grandparents, and any other long-term residents that may live in a single home.
Median and average household income alongside number of households per income bracket.
Residential Population (over time)
Population residing in single-family or multi-family homes.
Total Employee Count
Quarterly historical total number of employees (often referred to as daytime population). Daytime population is a key metric for understanding the density of an area during the day. Many businesses, like fast casual restaurants, need a strong daytime population to draw from to assist with store revenue. Growth or decline of employee populations over time can indicate whether a "daytime" market seems to have room to grow or is actually in decline.
Population broken down by ethnicity. Ethnicity illustrates the diversity of an area of an area and can assist businesses and potential businesses in understanding the potential demand for products and services, therefore allowing retailers to target their offerings to the consumer pool.
Weekly Per-Capita Spending
Weekly Per Capita Consumer spending within the location's trade area by category.
Knowing which business categories are needed most in a trade area helps property owners fill vacancies with businesses that have the best chances of success, and helps retailers determine whether their business category is highly desired in a trade area relative to national norms. If a business category is over-served, there will be strong competition for the consumer from other similar businesses. If it is underserved, then demand exceeds supply and there is an open opportunity. To calculate market void, we rank every location in the US by supply and demand saturation across 500 business categories, then determine the percentile of each location's rank. A value of 100 means "put a location here, now", and a value of 0 means "avoid this location at all costs". A value of 50 means that supply meets demand. We show the top 10 underserved categories to help you determine which business categories are most needed at your subject location.