IdealSpot Report

www.IdealSpot.com

Retail Location Evaluation - REI

REI


Prepared for REI on May 08, 2018


Customer Summary


This insight summarizes each insight in the report. If comparison locations have been added to the report, this insight also compares the subject location to any comparison locations for each data set and provides an overall similarity score. Similarity scores highlight the similarities and differences between the subject site and comparison sites.


Average Annual Daily Traffic


null (S) / null (N)

224,622



Mobile GPS Trips


Search origin trips to within a 50 meter ring around the location


Appendix

Insight Types


Weekly Per-Capita Spending

Weekly Per Capita Consumer spending within the location's trade area by category.

Customer Summary

This insight summarizes each insight in the report. If comparison locations have been added to the report, this insight also compares the subject location to any comparison locations for each data set and provides an overall similarity score. Similarity scores highlight the similarities and differences between the subject site and comparison sites.

Search Engine Demand

Between Google and Bing, 90% of Americans use search engines. Americans who use search engines make more than 13 billion searches per month. The terms people search for have been shown to correlate with a broad range of needs and preferences, from politics to health problems to purchase intent. Number of searches, also called search volume, is representative of consumer demand. Using search volumes, consumer demand can be directly measured and captured. Searches for a given business category represent individuals actively looking for something they currently want or need. Use search volumes to find locations that both have a large number of searches for your business category and achieve the highest market share relative to the total number of searches. This insight provides number of searches by people within a trade area over the last 30 days by business category. To provide a complete picture, we also include searches by people who are not currently in the trade area but are searching for products and services in the area.

Social Media Interest

Eighty percent of Americans regularly use social media. Activities taken on social media, whether "liking" a page, checking in to a venue, or publicly commenting on a post, are powerful indicators of interest in a business's products or services. Interest is a necessary prerequisite to any purchase. This insight shows number of people on social media within a trade area expressing interest for each of five-hundred business categories over the last 30 days.

Vehicle Traffic

Average vehicle traffic by day of the week and by hour for a selected road segment

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.

Total Households (over time)

Historical counts and forecasts of number of households in an area.

Household Income

Median and average household income alongside number of households per income bracket.

Gross Domestic Product

Quarterly historical gross domestic product estimates in thousands of U.S. dollars.

Market Void

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.

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.

Mobile GPS Trips

See where people are coming from to get to your location.

Crime Index

Crime index for the area relative to the national average. Compiled by the FBI, the Crime Index is an estimation of the overall level of crime in a given city or a country. The national average per crime is 1. A score of less than 1 indicates a lower crime rate compared to the national average, a score higher than 1 indicates a higher crime rate. Law enforcement agencies that participate in the Uniform Crime Reporting (UCR) Program forward crime data through their state UCR Programs in 46 states and the District of Columbia. Local agencies in those states that do not have a state program submit crime statistics directly to the FBI, who in turn provides continuous guidance and support to those participating agencies. The state UCR Programs function as liaisons between local agencies and the FBI. Many states have mandatory reporting requirements, and many state UCR Programs collect data beyond those typically called for by the national UCR Program to address crime problems specific to their particular jurisdictions.

Household Size

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.

Generations

A breakdown of the total population into societal generations. Generations are generally considered to be about thirty years, during which children are born and grow up, become adults, and begin to have children of their own. Generational differences often occur between one generation and another regarding beliefs, politics, experiences, and values. The generations in this insight are calculated from U.S. Census age data using the years sociologists generally agree mark the beginning and ends of each generation.

Age by Gender

A breakdown of the total population by age and gender. This insight highlights the distribution by age and gender to see if an area skews older or younger. This allows businesses to make informed business decisions by allowing them to tailor services and merchandising towards the dominant age groups. Age is determined through a traditional cohort survival analysis. This analysis looks at each age distribution within a race category and applies the appropriate birth and survival rates as determined by the NCHS (National Center for Health Statistics). Categorized results are then balanced back to the base population using an iterative redistribution algorithm. Information from the NCES (National Center for Education Statistics) is also applied to validate the age distribution of school-age children. U.S. Census estimates are used to validate all other age ranges.

Youth Age by Year

A breakdown of youth population (ages 0 - 21) by age and gender

Establishment Counts by Category

Total number of businesses within the defined trade area by business category. Evaluating the number of businesses by category allows you to not only gauge the amount of competition for a given area but can also shed light on complimentary businesses. 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.

Employee Salaries

Breakdown of resident salaries across all industries. This insight measures the strength of workers’ salaries relative to one another and provides a visual representation of the potential economic vitality of an area using data from the U.S. Bureau of Labor Statistics.