In this final article on data, we would like to get into some granular information on consumer patterns. The cell phone tracking software, Placer. ai, can g i ve u s an accurate pict ure of Rockd a l e ’ s demographics and customer segments, called psychographics. But this data can also tell us how much money we spend on certain items and if there is a demand for new businesses.
The Placer.ai data can inform us of retail gaps or surpluses. Somehow through the magic of Big Data, they can project how much is actually spent locally on a particular type of business and what could be spending. Then you subtract those two numbers and if its positive, then we have a surplus and if negative then we have a deficit or gap. These gaps represent opportunities for new businesses to come to Rockdale. As Rockdale grows, the demand for businesses increases and grows any retail gaps. Ideal ly, if we can f ill the gaps then more jobs and dollars can stay in Rockdale.
Unsurpr isingly, we know that there is a major gap for restaurants. You might not know that this gap is nearly $5.5 million per year.
The largest retail gap is in building material stores at $6.7 million per year. This could be an opportunity for either a new business to come in or for an existing business to expand.
Anyone wishing to take a peek at this data only needs to contact the RMDD office to set up an appointment.
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