With Retail Market Power (RMP), produced by Environics Analytics, users can identify sales opportunities based on a market analysis of any geographic area. Using demand estimates derived from consumer behavior and supply estimates derived from retail sales data, analysts can look at the net gap between demand and supply to identify opportunities in the marketplace or trade area. Developed using the Census of Retail Trade from the USA Census Bureau and the Consumer Expenditure Survey from the Bureau of Labor Statistics, the database offers current-year supply and demand estimates and five-year demand projections for all standard census, postal, and marketing geographies. Expenditures and sales estimates are organized by retail store types and major merchandise line items.
This release of Retail Market Power is updated with the latest 2020 Census Geography. For ENVISION users, Retail Market Power can be accessed through a 2023 workspace with updated population estimates and geography.
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: release notes, variable list, and metadata.