One of the first things mentioned in any marketing course or book is "know your audience." For retailers in Carlsbad's Village, learning about the city's residents is an important first step in developing an overall plan to bring more people, and potential customers, to the Village.
Last year, the Community Land Use and Economics (CLUE) Group prepared for an independent analysis of the Village's retail condition and its major opportunities for the City of Carlsbad Redevelopment Agency. This report offers important and interesting, demographic and psychographic details about Carlsbad residents which are being used to develop concrete suggestions about tapping into this backyard audience.
A retailer's dream
Carlsbad's population, currently estimated at more than 95,000, is growing rapidly; it is expected to reach 107,000 in 2010. This significant growth will inspire new demand for retail goods and services to the tune of an estimated $92 million. The leading growth categories are groceries, vehicle purchase, gas and maintenance, and dining out.
Carlsbad residents tend to be older, more affluent and less ethnically diverse when compared to our neighbors in San Diego County. They also have more discretionary spending power. More than 57 percent of our population is older than 35 years and more than 40 percent of Carlsbad households reported earning $80,000 or more.
Our residents tend to live in smaller households, with 63 percent having only one or two people, suggesting a relatively strong consumer demand in Carlsbad for home furnishings, personal services, restaurants and entertainment.
At $11,001, Carlsbad's per capitaretail buying power is higher than that of most nearby communities ($9,705 as a group) and that of San Diego County ($8,034) , which underscores the city's relative affluence and retail strength.
Another distinguishing characteristic is that less than one-third of our residents work in Carlsbad; 67 percent commute. Our residents are convenience oriented.
The lifestyle
The CLUE analysis offers a look into the attitudes and values of Carlsbad residents using data from ESRI, a company that provides demographic, GIS and economic data to businesses and governments.
ESRI examines more than 60 factors in specific neighborhoods including income, home value, occupation, household composition, education, magazine subscriptions, hobbies and spending patterns to identify neighborhoods whose residents have similar demographic and lifestyle characteristics. These neighborhoods are then categorized based on each neighborhood's predominant demographic, lifestyle and shopping preferences.
According to ESRI, Carlsbad's residents fall into two major groups; High Society (32 percent) and Upscale Avenues (49 percent). Within the High Society category, residents mostly fall into three categories as defined by ESRI;
Suburban Splendor
These successful suburbanites are the epitome of upward mobility, just a couple of rungs below the top and situated recently in growing neighborhoods of affluent homes with a median home value of more than $377,000. Most are two-income families with children. The household population is younger, well-educated and well-employed. Suburban Splendorhomes feature the latest amenities and home design. Residents are more likely to hire home services than do improvements themselves. They place importance on family time and travel. They purchase time-saving gadgets and equipment. They are proactive in financial planning, actively investing and owning life insurance policies.
Connoisseurs
Second in wealth among the consumer markets, but first for conspicuous consumption, Connoisseurs residents are slightly older, with a median age of almost 45 years, and closer to retirement than child rearing. Their neighborhoods tend to be older bastions of affluence where the median home value tops $511,000. Growth in these neighborhoods is slow. Residents spend more for personal travel and vacations than any other segment. They also work actively for political candidates or parties, participate in civic activities, and donate to charities.
Boomburgs
The newest additions to the suburbs, these communities are home to younger families with a busy, upscale lifestyle. Median home value is $275,000, and most households have two workers and two vehicles. Growth is characteristic of the communities and these families. These affluent families, who recently moved to their homes, focus their attention on upgrades, furnishing and landscaping. Boomburbs spend on family, leisure and other activities. They are one of the top markets for SUVs. They participate in golf, tennis and swimming and own an array or electronic equipment.
In the Upscale Avenue category, almost all belong to the subset, Urban Chic.
Urban Chic
Theseresidents are professional couples living an urbane, exclusive lifestyle. They are homeowners; many are city dwellers with a preference for expensive homes in high-rise buildings or town homes. Median age is 41 years. They travel extensively and embrace city life by visiting museums, attending dance performances and shopping at upscale stores. Civic-minded Urban Chicresidents volunteer to work for political parties. Being news junkies, they read multiple newspapers each day and listen to news talk and public radio.
Of course these are generalizations based on research and surveys, but this information gives Village retailers a pretty good peek into the characteristics and mind-set of potential customers, right in their backyard. The next step is to take this wealth of information and develop a Business Development and Marketing Plan, which the CLUE Group will complete early this year.
To review the entire retail analysis report, visit www.carlsbadgov/redevelopment.
Last year, the Community Land Use and Economics (CLUE) Group prepared for an independent analysis of the Village's retail condition and its major opportunities for the City of Carlsbad Redevelopment Agency. This report offers important and interesting, demographic and psychographic details about Carlsbad residents which are being used to develop concrete suggestions about tapping into this backyard audience.
A retailer's dream
Carlsbad's population, currently estimated at more than 95,000, is growing rapidly; it is expected to reach 107,000 in 2010. This significant growth will inspire new demand for retail goods and services to the tune of an estimated $92 million. The leading growth categories are groceries, vehicle purchase, gas and maintenance, and dining out.
Carlsbad residents tend to be older, more affluent and less ethnically diverse when compared to our neighbors in San Diego County. They also have more discretionary spending power. More than 57 percent of our population is older than 35 years and more than 40 percent of Carlsbad households reported earning $80,000 or more.
Our residents tend to live in smaller households, with 63 percent having only one or two people, suggesting a relatively strong consumer demand in Carlsbad for home furnishings, personal services, restaurants and entertainment.
At $11,001, Carlsbad's per capitaretail buying power is higher than that of most nearby communities ($9,705 as a group) and that of San Diego County ($8,034) , which underscores the city's relative affluence and retail strength.
Another distinguishing characteristic is that less than one-third of our residents work in Carlsbad; 67 percent commute. Our residents are convenience oriented.
The lifestyle
The CLUE analysis offers a look into the attitudes and values of Carlsbad residents using data from ESRI, a company that provides demographic, GIS and economic data to businesses and governments.
ESRI examines more than 60 factors in specific neighborhoods including income, home value, occupation, household composition, education, magazine subscriptions, hobbies and spending patterns to identify neighborhoods whose residents have similar demographic and lifestyle characteristics. These neighborhoods are then categorized based on each neighborhood's predominant demographic, lifestyle and shopping preferences.
According to ESRI, Carlsbad's residents fall into two major groups; High Society (32 percent) and Upscale Avenues (49 percent). Within the High Society category, residents mostly fall into three categories as defined by ESRI;
Suburban Splendor
These successful suburbanites are the epitome of upward mobility, just a couple of rungs below the top and situated recently in growing neighborhoods of affluent homes with a median home value of more than $377,000. Most are two-income families with children. The household population is younger, well-educated and well-employed. Suburban Splendorhomes feature the latest amenities and home design. Residents are more likely to hire home services than do improvements themselves. They place importance on family time and travel. They purchase time-saving gadgets and equipment. They are proactive in financial planning, actively investing and owning life insurance policies.
Connoisseurs
Second in wealth among the consumer markets, but first for conspicuous consumption, Connoisseurs residents are slightly older, with a median age of almost 45 years, and closer to retirement than child rearing. Their neighborhoods tend to be older bastions of affluence where the median home value tops $511,000. Growth in these neighborhoods is slow. Residents spend more for personal travel and vacations than any other segment. They also work actively for political candidates or parties, participate in civic activities, and donate to charities.
Boomburgs
The newest additions to the suburbs, these communities are home to younger families with a busy, upscale lifestyle. Median home value is $275,000, and most households have two workers and two vehicles. Growth is characteristic of the communities and these families. These affluent families, who recently moved to their homes, focus their attention on upgrades, furnishing and landscaping. Boomburbs spend on family, leisure and other activities. They are one of the top markets for SUVs. They participate in golf, tennis and swimming and own an array or electronic equipment.
In the Upscale Avenue category, almost all belong to the subset, Urban Chic.
Urban Chic
Theseresidents are professional couples living an urbane, exclusive lifestyle. They are homeowners; many are city dwellers with a preference for expensive homes in high-rise buildings or town homes. Median age is 41 years. They travel extensively and embrace city life by visiting museums, attending dance performances and shopping at upscale stores. Civic-minded Urban Chicresidents volunteer to work for political parties. Being news junkies, they read multiple newspapers each day and listen to news talk and public radio.
Of course these are generalizations based on research and surveys, but this information gives Village retailers a pretty good peek into the characteristics and mind-set of potential customers, right in their backyard. The next step is to take this wealth of information and develop a Business Development and Marketing Plan, which the CLUE Group will complete early this year.
To review the entire retail analysis report, visit www.carlsbadgov/redevelopment.