Retail Market Power (RMP) can help retailers and real estate analysts understand the supply and demand characteristics of any area. Using supply estimates derived from retail sales data and demand estimated derived from consumer expenditures, the database presents a net gap between supply and demand to assess opportunities in your current or potential new trade areas. Developed using the Census of Retail Trade from the U.S. Census Bureau and the Consumer Expenditure Survey from the U.S. Bureau of Labor Statistics, the database offers current-year supply and demand estimates, as well as five-year demand projections, for all standard census, postal, marketing geographies or custom trade areas such as radii or drive times.
Retail Market Power (RMP) presents sales estimates and consumer expenditures by more than 100 retail store types including department stores, warehouse clubs, supercenters and restaurants. In addition, there are estimates for nearly 40 merchandise line items such as women’s wear, sporting goods, and pet supplies.
The Retail Market Power tool in ENVISION offers a report that includes additional RMP metrics to help users understand the demand growth in retail store types and merchandise line items from the current year to five years from now. The report also presents the compound annual growth rate (CAGR), for each variable. ENVISION users can also visualize all these data through the mapping tools.
What's New
Four variables have been dropped from the database. All four variables belong to one merchandise line, “Packaged liquor, wine, and beer,” and specifically for the demand, supply, opportunity gap, and future year demand categories. These changes reflect changes made in the Consumer Expenditure Survey (CEX) where all granular alcohol spend are no longer reported.
The below video (5:41 mins) covers product details, sources, methodology, applications, and key questions about this product. Watching this video will give you an overview of the product and some ideas for how it can be used in your work.
Following the video, some additional resources are linked for reference.