Consumer Buying Power provides geography-based estimates of potential annual consumer spending for more than 700 household expenditure items. The data, produced by Environics Analytics, allow users to identify the potential demand for a wide variety of products and services by geographic area, regardless of where consumers make their purchases.
Developed using the Consumer Expenditure Survey (CEX), conducted by the U.S. Bureau of Labor Statistics, the database offers current-year estimates and five-year projections of potential consumer expenditures for all standard census, postal and marketing geographies. The variables are available in two hierarchies: expenditures by category and merchandise line items, and retail store types.
For July 2021, Consumer Buying Power™ (CBP) includes a restatement of current year (CY) variables as a supplement to the current CBP dataset. The CBP (CY) data was modelled based on data inputs from the first half of 2020. To account for the unpredictable social, political, and behavioral changes stemming from the COVID-19 pandemic, the July restatement adds the second half of 2020 data as an input to refine our estimates and controls when modelling the CBP (CY) data. These adjustments may vary region by region down to the block group level. It is also important to note that the CBP (CY) restatement does not replace the current CBP (CY) estimates. The restatement is offered concurrently in ENVISION to be used to validate and compare your analysis or models so that you can fine-tune your strategies accordingly.
Below you will find a video (4:55 mins) that covers product details, sources, methodology, applications and key questions about this product. Watching this video will provide you with an overview of the product and give you some ideas for how it can be used in your own work.
Following the video, there are some additional resources linked for your reference: release notes, variables list and variables change list.
Consumer Buying Power Release Notes
Consumer Buying Power Release Notes (Restatement)
Consumer Buying Power Variables List
Consumer Buying Power Variables List (Restatement)
Consumer Buying Power Variables Change List