Cutting through the data maze….
Demography is used to describe the social characteristics and vital statistics of people, families, and households within a geographic boundary. A variety of secondary sources provide free or low cost online access to useful data. Developing an inhouse, ” fast and easy” demographic resource is an important step in selecting the social conditions and the economic variables such as the cost of housing or access to employment that would be of greatest use to your organization or company.
Evaluate the depth of need for goods and services both public and private on a per capita basis. Research includes improved understanding of the changing quality of economic demand on local businesses in terms of market size. Our Demographic Reports review options and help select the information deemed most useful to client’s immediate needs.
Whether for profit businesses or nonprofit community organizations corporations the tools for managing changes in market conditions are best understood when regional data is compared to local knowledge. A well-known tactic for evaluating these changes is advanced demographic research on the dollars and cents of local markets.
Preliminary Market Analysis Services
A key asset of every community is its uniqueness, including the ability to act on an issue in a timely fashion. Acquiring an advanced Demographic Market Report on local commercial districts will reveal the capacity of local small businesses to capture local spending and local nonprofits to get down to business.
Also known as a “drill down” method, the process helps community groups to launch a competitive response to large corporate retailers in business-to-business and business-to-community dealings. The policy has been to encourage local nonprofit organizations with a public service mission to consider “running a business” to “fill in the retail gaps.” This has been wrong headed.
In most urban communities today, the spending of as few as 25% of the households represent as much as 75% of local retail spending, but local business or community advocates only see that 75% of lower-income households whose spending power is only 25% of the market. Changing the business model to make the powerful 25% happy would be competitively good for everyone.
If you are one local nonprofit organizations dealing with the concentrations of poverty, a better conclusion is to consider “transhipment” controls. This effort changes the means of delivery in the journey to free people trapped in self- and community-distructive cycles.