Lifestyles & Demographics: A CPN-CLARITAS Special Report
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CPN and Claritas examine the value of looking beyond demographics for improved audience targeting
With raw land tough to come by and available financing equally difficult to acquire, retail real estate owners are increasingly turning to redevelopment of older assets in need of revitalization, with a goal toward improving their performance. Oftentimes, the surrounding market has shifted, requiring identification of the new marketplace and a consequent change in direction. While demographic information is useful, a deeper look at the lifestyle characteristics of surrounding consumers allows the property owner to better target the center. CPN has partnered with sister business Claritas, a service of The Nielsen Co. that specializes in retail-related demographic and marketing research, to examine the lifestyle tendencies of specific consumer groups and where they tend to be located. Click here for the full story. |
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| Consumer Profile: Columbus
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| Consumer Profile: Santa Monica |
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| Lifestyle Segments: All in the family |
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| Family Matters: Top Counties by Segment |
| Many shopping center owners that are redeveloping older centers have targeted families with buying power |
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| Additional Research |
| While real estate owners must target their redevelopment efforts to the needs and desires of consumers in the surrounding area, in many places they will find especial value in families with children, especially those with single parents or two working parents. Tight time constraints make for a different sort of shopping model. A special report in the August 2008 issue of CPN examined the value in this groups, taking a special look at different subgroups and how knowledge of their demographic and psychgraphic profile can help improve performance potential, drawing on the information and analysis contained in demographic and marketing research provider and sister business Claritas' PRIZM consumer segmentation system. Click here to access this information. |
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| Methodology: |
PRIZM, the signature product of Nielsen Claritas, classifies the U.S. population into 66 segments based on various socio-economic data, such as income, age, race, occupation, education and household composition. Additionally, PRIZM includes information about lifestyle attributes that are critical to shaping advertising and marketing strategies, such as where people vacation, what they drive and their favorite brands. It offers a seamless transition between household-level coding and geographic-level coding by providing the same segment schema at both levels. Having the ability to ‘downshift’ from geo-demographic to household-level targeting makes it possible for all marketers to tap the power of household targeting in direct mail applications – even marketers who don't have their own household-level databases.
Demographic Data Update: In building the update, Claritas relies on data obtained through federal government agencies such as the U.S. Census; U.S. Postal Service & Office of Federal Housing Enterprise Oversight; local government agencies and non-governmental sources such as Equifax, Valassis and the National Association of Realtors. This data is utilized in a combined “bottom-up” and “top-down” process for generating current year estimates and five-year projections for demographic base counts, population characteristics, household characteristics and housing unit characteristics.
In the "bottom-up" process, local level data is used to assess demographic growth and decline in small geographies. In the "top-down" process, U.S. Census Bureau estimates and other federal data are used to develop totals for demographic variables for larger areas such as cities, counties and states. These independently produced estimates serve the important function of methodological controls to ensure that any indications of demographic change are consistent across all demographic data sources.
The Claritas demographic dataset includes over 4,000 variables covering 1990, 2000, current year estimates and five-year projections, and is available from the block level up to the United States.
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| CPN has partnered with sister business Claritas to provide the commercial real estate industry with data and analysis useful in shaping effective retail real estate strategies. |
Claritas, a Nielsen Company, is a marketing information resources company dedicated to helping companies engaged in consumer and business-to-business marketing. We are dedicated to maximizing our clients' profitability with targeted and measurable marketing programs and enterprise-wide technology solutions.
For more information on Claritas, click here. |
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| Feedback: |
| We at CPN would appreciate your feedback on how you are able to use the provided data and on other data you need that we could provide. Please email editor-in-chief Suzann D. Silverman at suzann.silverman@nielsen.com with your thoughts and experiences. |
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