For 2016 the City of Edwardsville Community Economic Development department has access to Nielsen’s Retail Market Power data. This data is derived from two major sources of information. The demand data is derived from the Consumer Expenditure Survey (CE Survey, or CEX), which is fielded by the U.S. Bureau of Labor Statistics (BLS). The supply data is derived from the Census of Retail Trade (CRT), which is made available by the U.S. Census. Additional data sources are incorporated to create both supply and demand estimates.
The difference between demand and supply represents the opportunity gap or surplus available for each merchandise line/retail store type in the specified reporting geography. When this difference is positive (demand is greater than the supply), there is an opportunity gap for that merchandise line/retail store type; when the difference is negative (supply is greater than demand), there is a surplus.
What does this mean for small business owners in Edwardsville? It means that we have data that measures market capacity for a specific product or service. More importantly, if you are a small business owner interested in opening up a store in Edwardsville your first conversation should be with the Community/Economic Development Department and your second conversation should be with the Small Business Development Center at Southern Illinois University Edwardsville.
This is a sample of the information provided:
Edwardsville Retail Market Power
|Retail Store||2016 Demand (Consumer Expenditures)||2016 Supply
|Clothing & Clothing Accessories Stores||$22,175,417||$13,715,725||$8,459,692