{"id":1300302,"date":"2021-07-21T16:38:13","date_gmt":"2021-07-21T23:38:13","guid":{"rendered":"https:\/\/www.esri.com\/arcgis-blog\/?post_type=blog&p=1300302"},"modified":"2021-07-21T16:38:13","modified_gmt":"2021-07-21T23:38:13","slug":"consumer-spending","status":"publish","type":"blog","link":"https:\/\/www.esri.com\/arcgis-blog\/products\/esri-demographics\/announcements\/consumer-spending","title":{"rendered":"Esri Data 101: Consumer Spending"},"author":8622,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"_searchwp_excluded":""},"categories":[37101],"tags":[230422,26291,266462],"industry":[],"product":[37011],"class_list":["post-1300302","blog","type-blog","status-publish","format-standard","hentry","category-announcements","tag-data","tag-esri-data","tag-esri-demographics","product-esri-demographics"],"acf":{"short_description":"Understand consumer spending trends and measure demand for goods and services based on location data.","flexible_content":[{"acf_fc_layout":"content","content":"

Your customers are inundated with choices each and every day. Using Esri’s Consumer Spending data, you can develop products and services that resonate based on your customers needs, desires, and behaviors.<\/em><\/p>\n"},{"acf_fc_layout":"content","content":"

To increase your chances of a successful product sale, you need to understand who your customers are and how they spend their money. What may surprise you is that where your customers are located can make a huge impact on how they will interact with your brand and\/or products.<\/p>\n

Esri Consumer Spending data can help you understand consumer spending trends and measure local demand for goods and services. You can use this data to learn more about who your customers are, how they spend their money, and how to find more customers like them. After all, successful business isn\u2019t just about reaching your existing customers, it\u2019s about identifying the characteristics that make your customers unique so that you can find more people like them.<\/p>\n"},{"acf_fc_layout":"image","image":{"ID":1300782,"id":1300782,"title":"Know Your Neighborhood","filename":"Know-Your-Neighborhood.jpg","filesize":84008,"url":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Know-Your-Neighborhood.jpg","link":"https:\/\/www.esri.com\/arcgis-blog\/products\/esri-demographics\/announcements\/consumer-spending\/know-your-neighborhood","alt":"Know Your Neighborhood with Esri Data","author":"8622","description":"Discover more information about the people in your neighborhood using Esri Data","caption":"","name":"know-your-neighborhood","status":"inherit","uploaded_to":1300302,"date":"2021-07-16 21:44:22","modified":"2021-07-16 21:45:15","menu_order":0,"mime_type":"image\/jpeg","type":"image","subtype":"jpeg","icon":"https:\/\/www.esri.com\/arcgis-blog\/wp-includes\/images\/media\/default.png","width":1024,"height":512,"sizes":{"thumbnail":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Know-Your-Neighborhood-213x200.jpg","thumbnail-width":213,"thumbnail-height":200,"medium":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Know-Your-Neighborhood.jpg","medium-width":464,"medium-height":232,"medium_large":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Know-Your-Neighborhood.jpg","medium_large-width":768,"medium_large-height":384,"large":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Know-Your-Neighborhood.jpg","large-width":1024,"large-height":512,"1536x1536":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Know-Your-Neighborhood.jpg","1536x1536-width":1024,"1536x1536-height":512,"2048x2048":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Know-Your-Neighborhood.jpg","2048x2048-width":1024,"2048x2048-height":512,"card_image":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Know-Your-Neighborhood-826x413.jpg","card_image-width":826,"card_image-height":413,"wide_image":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Know-Your-Neighborhood.jpg","wide_image-width":1024,"wide_image-height":512}},"image_position":"center","orientation":"horizontal","hyperlink":"https:\/\/www.esri.com\/en-us\/arcgis\/products\/data\/overview#data-demo"},{"acf_fc_layout":"content","content":"

To help you better understand how Esri Consumer Spending data works, explore the Know Your NeighborhoodSM<\/sup> app. To use this app, simply put in your ZIP code, then watch as insights are revealed about the populations in your neighborhood. In this experience, you\u2019ll see Consumer Spending data side-by-side with Esri\u2019s other datasets, such as Esri Demographics, Esri Tapestry Segmentation, and Esri Market Potential data.<\/p>\n

Try the app<\/a><\/h3>\n"},{"acf_fc_layout":"image","image":{"ID":1300882,"id":1300882,"title":"Shopper","filename":"Shopper.jpg","filesize":68893,"url":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Shopper.jpg","link":"https:\/\/www.esri.com\/arcgis-blog\/products\/esri-demographics\/announcements\/consumer-spending\/shopper","alt":"Esri Consumer Spending can tell you what your shoppers are buying","author":"8622","description":"Understand buying behavior with Esri Consumer Spending data","caption":"","name":"shopper","status":"inherit","uploaded_to":1300302,"date":"2021-07-16 22:12:46","modified":"2021-07-16 22:13:26","menu_order":0,"mime_type":"image\/jpeg","type":"image","subtype":"jpeg","icon":"https:\/\/www.esri.com\/arcgis-blog\/wp-includes\/images\/media\/default.png","width":1024,"height":512,"sizes":{"thumbnail":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Shopper-213x200.jpg","thumbnail-width":213,"thumbnail-height":200,"medium":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Shopper.jpg","medium-width":464,"medium-height":232,"medium_large":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Shopper.jpg","medium_large-width":768,"medium_large-height":384,"large":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Shopper.jpg","large-width":1024,"large-height":512,"1536x1536":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Shopper.jpg","1536x1536-width":1024,"1536x1536-height":512,"2048x2048":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Shopper.jpg","2048x2048-width":1024,"2048x2048-height":512,"card_image":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Shopper-826x413.jpg","card_image-width":826,"card_image-height":413,"wide_image":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Shopper.jpg","wide_image-width":1024,"wide_image-height":512}},"image_position":"center","orientation":"horizontal","hyperlink":"https:\/\/www.esri.com\/en-us\/arcgis\/products\/data\/data-portfolio\/business-behavioral"},{"acf_fc_layout":"content","content":"

What is Esri Consumer Spending data?<\/strong><\/h2>\n"},{"acf_fc_layout":"content","content":"

Esri Consumer Spending is a proprietary dataset developed by Esri\u2019s expert team of demographers and statisticians. Utilizing the latest Consumer Expenditure Surveys (CEX) from the Bureau of Labor Statistics, Esri links the spending of consumer units in CEX surveys to all households with similar socioeconomic characteristics using a conditional probability model that integrates consumer spending with Esri\u2019s Tapestry market segmentation system. Spending patterns are developed by Tapestry markets and calibrated to current levels of income. \u00a0You can learn more about the methodology here<\/a>.<\/p>\n

The Consumer Spending database includes 20+ different data tables, with over 700 different Consumer Spending data variables. The database can tell you more about retail goods and services, recreation, medical, and other financial expenditures. Because the database is inherently location-based, it can tell you where spending is taking place. This information can help you compare market areas to give you confidence in your territory outreach when considering the different types of marketing avenues to pursue.<\/p>\n"},{"acf_fc_layout":"content","content":"

Consumer Spending data describes demand for products and services in US dollars. For any area, you can determine what the total annual expenditure is or look at the average annual expenditure by household. In addition, each data variable is available as an index comparing the area\u2019s average annual household expenditure rate to the US\u2019 rate.<\/p>\n

Because the data are available for both current-year and a five-year forecast, you can see whether demand for certain products and services is going up, going down, or staying steady.<\/p>\n

Often used side-by-side with Esri Market Potential data, Consumer Spending, when enriched with other datasets, can give you a complete 360-degree view of your customers and the way they spend their money. Keep in mind that Consumer Spending will vary based on demographics. Knowing who your populations are is also important to knowing how the populations spend. Seeing the customer from the perspectives of many different types of data, can help you to uncover the intricate details that make your customer unique.<\/p>\n"},{"acf_fc_layout":"image","image":{"ID":1300922,"id":1300922,"title":"Consumer Spending Map","filename":"Consumer-Spending-Map.jpg","filesize":139599,"url":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Consumer-Spending-Map.jpg","link":"https:\/\/www.esri.com\/arcgis-blog\/products\/esri-demographics\/announcements\/consumer-spending\/consumer-spending-map","alt":"Consumer Spending Map","author":"8622","description":"Map of Esri Consumer Spending data","caption":"","name":"consumer-spending-map","status":"inherit","uploaded_to":1300302,"date":"2021-07-16 22:15:35","modified":"2021-07-16 22:15:55","menu_order":0,"mime_type":"image\/jpeg","type":"image","subtype":"jpeg","icon":"https:\/\/www.esri.com\/arcgis-blog\/wp-includes\/images\/media\/default.png","width":1024,"height":512,"sizes":{"thumbnail":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Consumer-Spending-Map-213x200.jpg","thumbnail-width":213,"thumbnail-height":200,"medium":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Consumer-Spending-Map.jpg","medium-width":464,"medium-height":232,"medium_large":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Consumer-Spending-Map.jpg","medium_large-width":768,"medium_large-height":384,"large":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Consumer-Spending-Map.jpg","large-width":1024,"large-height":512,"1536x1536":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Consumer-Spending-Map.jpg","1536x1536-width":1024,"1536x1536-height":512,"2048x2048":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Consumer-Spending-Map.jpg","2048x2048-width":1024,"2048x2048-height":512,"card_image":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Consumer-Spending-Map-826x413.jpg","card_image-width":826,"card_image-height":413,"wide_image":"https:\/\/www.esri.com\/arcgis-blog\/app\/uploads\/2021\/07\/Consumer-Spending-Map.jpg","wide_image-width":1024,"wide_image-height":512}},"image_position":"center","orientation":"horizontal","hyperlink":"https:\/\/www.esri.com\/en-us\/arcgis\/products\/data\/data-portfolio\/business-behavioral"},{"acf_fc_layout":"content","content":"

What questions can be answered using Esri Consumer Spending data?<\/strong><\/h2>\n"},{"acf_fc_layout":"content","content":"

To help frame Consumer Spending data into context, you may consider the following questions that can be answered utilizing the database. Use cases for Esri Consumer Spending data are extensive and not limited to the list below. However, we hope this list inspires you to think about the different ways the data can help you solve problems at your organization.<\/p>\n