The Nielsen Consumer Buying Power database incorporates geography-based estimates of potential annual consumer expenditures for more than 365 household expenditure items. Nielsen Consumer Buying Power data allows clients to identify the potential demand of consumers for products and services by geographic area, regardless of where the consumers make their purchase.
Available as a licensable data option in Nielsen software applications, the Nielsen Consumer Buying Power database is an invaluable tool for precision marketing. Examples of applications for this type of consumer expenditure data include:
Mobile phone service expenditures, to better track consumer transitions to wireless technology
Elder care expenses, a growing concern as baby boomers hit retirement age
Vitamins and other health supplements, a booming market added to better reflect the growing health concerns of society today
Household Repair and Services, to facilitate exploration of do-it-yourself projects and home remodeling
Tuition costs, expanded to better reflect the increased use of private education
Automotive sales, for differentiation between lease and purchase, new and used
Nielsen Consumer Buying Power includes total household expenditures for over 365 specific buying power product categories and 77 summary categories in current-year and 5-year projections.
Additionally, Nielsen developed a cross-reference that leverages the Nielsen Consumer Buying Power database to estimate potential consumer expenditures by store types for 42 distinct retail store types. Breakdowns of average household expenditures are also available for 53 Yellow Page headings.
The 77 product and service summary categories include:
Retail Store Types
Product and service categories are also aggregated into broader groupings of forty-one retail store types based on the type of retail store(s) in which specific products would likely be purchased. These groupings include:
Yellow Page Headings
Line items are aggregated into 53 headings based on where products/services would most likely be found in the Yellow Pages section of your local phone directory. Nielsen Consumer Buying Power groupings include headings such as:
The Nielsen Consumer Buying Power database is created using statistical models estimated from the Bureau of Labor Statistics Consumer Expenditure Surveys (CEX). Annual income and expenditures are collected from the Interview and Diary surveys in varying detail, classified by income, age, consumer unit size, and other demographic characteristics of consumer units. Nielsen has an archive of the CEX data over multiple years, utilizing the latest five years to update the Nielsen Consumer Buying Power data model coefficients each year.
Identify the potential demand of consumers for products and services by geographic area; call us at 800-234-5973.