Demographics and economic statistics are crucial for site selection. Consumers and employees alike now expect to connect with their environments, believe in products, and interact socially. How can REALTORS® get ahead of this experiential trend to support clients and ensure business sustainability? By moving beyond traditional demographic and economic facts to share a more detailed and thoughtful story about the trade area with RPR®.
Let’s walk through a scenario where a client is seeking locations with educated young professionals who spend on entertainment and self-improvement.
1. Customize an attribute study. Show your clients the right spots for business placement with tailored details around their specific needs. Demonstrate the depths of your knowledge by offering locations heavily populated by 20- and 30-something tech-focused professionals who spend on going to the movies and museums, eating out, shopping for clothes in stores and online.
2. Target an area that speaks to the client’s needs. Confirm their essential criteria and dive deeper into their needs with a profile that paints a more comprehensive picture. For instance, this selected geography consists of young, highly educated, tech focused professionals with over 50% renting condos. They strive to be healthy, practice yoga and run, eat organic foods, go to museums, travel for work and pleasure, purchase trendy clothes and frequent Starbucks, etc.