2. Consumer Connection Helps Create Sustainable
Communities
Community leaders have a responsibility to
create sustainable communities that:
• Reflect their community’s values
• Preserve their community’s unique charm
and character
• Support existing business and industry
• Attract new retail development and services
3. Why Should We Develop Our Retail
Community?
• Satisfy citizens’ desire to shop at home
• Increase sales and property taxes
• Create new, permanent jobs
• Retain dollars that are currently spent outside the
community
• Bring new dollars into the community
4. Balanced Economic Growth
Strong retail opportunities help attract major employers
The presence of strong employers helps communities
attract and develop higher-end retailers
5. How Can Retail be Successfully Developed?
Retail can be successfully developed with:
Different tools and techniques
• An understanding of the retail industry and language
• Investments in resources that demonstrate the retail
opportunities available in your community
6. How to Market Like a Fortune 500 Company
Nielsen Claritas is the preferred choice
of Fortune 500 companies who wish to
optimize their
customer targeting,
media strategies and
site analysis decisions
7. Lafayette County: Retailers’ Use of Claritas
Strategies To Utilize Claritas Products
What is our trade area? Can this trade area
support my business?
What are the retail What are the largest
opportunity gaps in my lifestyle segments in my
trade area? trade area?
How does this How do I market to the
information impact my households in my trade
product mix? area?
8. Lafayette County: By the Numbers
Average Household Income $51,526
Population – 2008 41,107
Population – 2013 42,050
% Owner Occupied Housing 60.4%
Population Growth – 2008 to 2.3 %
2013
Number of Households 15,855
9. Lafayette County: By the Numbers
Total Retail Sales $711,400,000
Total Retail Demand $630,800,000
Total Retail In-Leakage $80,700,000
(Supply over Demand)
Growth in Retail Demand: 23.5 %
2008 to 2013
10. Lafayette County: Major Retail In-Leakage
Meals & Snacks $38,800,000
Groceries & Other Foods $22,000,000
Books $14,900,000
Womens’, Juniors’ & Misses’ $12,500,000
Wear
Drugs, Health & Beauty Aids $6,000,000
12. Claritas Psychographics: Prizm
PRIZM combines demographic, consumer behavior,
and geographic data to help marketers identify,
understand and target their customers and prospects.
With PRIZM segmentation, marketers can better
understand their customers and prospects, and target
them with tailored messages and products designed just
for them.
13. My Competitors are Struggling – How Can I
Grad Their Customers?
“Downturns are when the biggest shifts in market share
happen. But don’t try to go after different customers.
The companies that do this well focus on the customers
that are at the core of their businesses.”
Rob Markey, Partner & Head of Global Customer
Strategy with Bain & Company, Fortune, March 30,
2009.
14. My Competitors are Struggling – How Can I
Grad Their Customers?
“Someone told me we couldn’t have picked
a worse time to launch the brand
(a new higher-end, leather portfolio).
But, we went after customers
who would buy these products in a mall setting
– and we won many of them.”
Ron Sargent, CEO of Staples, Fortune, March 30, 2009.
15. Lafayette County: Top Prizm Segments
Young & Rustic
• 4,633 households in the County
29.2 percent of households the County
County concentration is 14.4 times the national average
Young & Rustic is composed of middle age, restless singles. These
folks tend to be lower-middle-income, high school-educated, and live in
tiny apartments in the nation's exurban towns. With their service
industry jobs and modest incomes, these folks still try to fashion fast-
paced lifestyles centered on sports, cars, and dating.
16. Lafayette County: Top Prizm Segments
Blue Highways
• 1,751 households in the County
11.0 percent of households the County
County concentration is 6.6 times the national average
On maps, blue highways are often two-lane roads that wind through remote
stretches of the American landscape. Among lifestyles, Blue Highways is the
standout for lower-middle-class residents who live in isolated towns and
farmsteads. Here, Boomer men like to hunt and fish; the women enjoy sewing
and crafts, and everyone looks forward to going out to a country music concert.
17. Lafayette County: Top Prizm Segments
Crossroad Villagers
• 1,530 households in the County
9.6 percent of households the County
County concentration is 4.5 times the national average
With a population of middle-aged, white-collar couples and families, Crossroads
Villagers is a classic rural lifestyle. Residents are high school-educated, with
downscale incomes and modest housing; one-quarter live in mobile homes. And
there's an air of self-reliance in these households as Crossroads Villagers help
put food on the table through fishing, gardening, and hunting.
18. Lafayette County: Top Prizm Segments
Back County Folks
• 1,512 households in the County
9.5 percent of households the County
County concentration is 4.4 times the national average
• Strewn among remote farm communities across the nation, Back Country Folks
are a long way away from economic paradise. The residents tend to be poor,
over 55 years old, and living in older, modest-sized homes and manufactured
housing. Typically, life in this segment is a throwback to an earlier era when
farming dominated the American landscape.
19. Lafayette County: Top Prizm Segments
Shotguns & Pickups
• 1,044 households in the County
6.6 percent of households the County
County concentration is 3.9 times the national average
The segment known as Shotguns & Pickups came by its moniker honestly: it
scores near the top of all lifestyles for owning hunting rifles and pickup trucks.
These Americans tend to be young, working-class couples with large families--
more than half have two or more kids--living in small homes and manufactured
housing. Nearly a third of residents live in mobile homes, more than anywhere
else in the nation.
20. Lafayette County: Retailers’ Use of Claritas
Strategies To Utilize Claritas Products
What is our trade area? Can this trade area
support my business?
What are the retail What are the largest
opportunity gaps in my lifestyle segments in my
trade area? trade area?
How does this How do I market to the
information impact my households in my trade
product mix? area?