Consumer Spending Data
Consumer Spending data lets you identify important changes and significant trends in consumer spending and buying habits. Based on annualized data from the Consumer Expenditure Survey, Consumer Spending (CEX) data helps you identify the best areas to market your products and services.
With Consumer Spending data, you can
- Measure local demand for goods and services
- Identify changing consumer tastes and preferences by geography
- Analyze spending pattern increases or reductions by geography
- Develop in depth-market analyses
How is this database built?
To estimate consumer spending patterns, ESRI combines the latest (2002-2004) Consumer Expenditure (CE) Surveys from the Bureau of Labor Statistics with ESRI's Community Tapestry segmentation system.
ESRI extracts demographic and economic data for households from the quarterly Interview Survey and the weekly Diary Surveys. Data is reported by product or service and includes total expenditures, average spending per household, and a Spending Potential Index (SPI).
A conditional probability model links spending by consumers surveyed to all households with similar socioeconomic characteristics. Spending patterns are developed by Community Tapestry segments and updated to 2009 by adjusting to current levels of income. Expenditures represent the 2009 annual averages and totals.
ESRI revises the average expenditure to reflect the average amount spent per household. Total expenditure is the aggregate amount spent by all households in an area. The SPI compares the average expenditure for a product locally to the average amount spent nationally. For example, an index of 100 is average. An SPI of 120 shows that average spending by local consumers is 20 percent above the national average.
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