With Retail Market Power, 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, as well as 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.
For July 2021, Retail Market Power (RMP) includes a restatement of current year (CY) variables as a supplement to the current RMP dataset. The RMP (CY) data was modelled based on data inputs from the first half of 2020. To account for the unpredictable social, political, and behavioural 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 RMP (CY) data. These adjustments may vary region by region down to the block group level. It is also important to note that the RMP (CY) restatement does not replace the current RMP (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 (5:41 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 lists and metadata.
Retail Market Power Release Notes
Retail Market Power Release Notes (Restatement)
Retail Market Power Variables List
Retail Market Power Variables List (Restatement)
Retail Market Power Variables Change List
Retail Market Power Growth Variables for ENVISION Mapping Variables List