This data lets us identify important changes and significant trends in consumer spending and buying habits. Based on annualized data from the Consumer Expenditure Survey, Consumer Spending (CEX) data helps us identify the best areas to market your products and services.
With Consumer Spending data, we can
- Measure local demand for goods and services
- Identify changing consumer tastes and preferences by geography
- Analyze spending pattern increases or reductions by geography
- Develop in depth-market analyses
Why Use Consumer Spending Data?
By combining the most current release of the Consumer Expenditure Surveys(2002-2004) from the Bureau of Labor Statistics with ESRI’s market segmentation system Community Tapestry, the CEX database offers a precise measure of consumer spending. Business and organizations use this information to decide which products and services they should market to specific populations, or whether to expand or reduce existing product and service offerings.
For example, current spending trends in certain U.S. economic sectors reveal expectations for moderate growth. However, as health premiums continue to rise, the expected amount consumers will pay for out-of-pocket expenses will cause spending for health insurance, prescription drugs, and vitamins to increase significantly, leaving less disposable income for discretionary spending..
The Consumer Spending database is comprised of more than 730 items, grouped into 15 categories that include expenditures for the following categories:
- Automotive Aftermarket
- House and Home
- Household Budget
- Retail Goods and Services
Consumer Spending data files and reports include:
- Total expenditures
- Average spending per household
- Spending Potential Index (SPI)
Who Uses Consumer Spending Data?
- Financial Services – Customers’ purchasing habits, financial behaviors, and preferences
- Health Care – Measure local demand for health care goods and services
- Real Estate – Locate sites to fit the spending patterns of most profitable customers
- Restaurant – Identify menu selections that match customers’ preferences
- Retail – Understand which products customers prefer & design effective advertising
Consumer Spending Reports
Consumer spending reports provide you with information about what consumers spend their money on, their buying habits, and the potential for consumer spending for various products and services by market. Use these reports to help you make decisions about expanding your product and service offerings, targeting specific markets, and identifying the best areas to market your products and services. Consumer spending reports include data from ESRI’s Consumer Expenditure, Market Potential, and Retail MarketPlace databases, and traffic data from MPSI/DataMetrix.
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