Since 1992, Synergos Technologies Inc. (STI) has been providing market-focused companies with many of today’s most innovative and confidence-boosting demographic data building blocks. With data like STI: PopStats, STI: LandScape, and more, companies across the country are sharpening, advancing, and expanding their market research to new levels of market, consumer, and location insight.
STI: PopStats – Current Year and 5-Year Projections
Retailers and other businesses continually searching for new hard-to-find high-growth markets are constantly reassessing their existing locations to stay on top of today’s dynamic consumer demographics. STI: PopStats’s quarterly demographic updates solves real-world problems that many of today’s largest and fastest growing businesses experience.
More Accurate Market Research
STI: PopStats will elevate your research to a new level of population insight, estimating accuracy, and decision-making power. Because the product’s consumer numbers are completely up-to-date and accurate, STI: PopStats will help you:
- Discover hidden high-growth areas before your competitors
- Identify population-related problems in existing stores
- Reduce the time and money you spend on market research
While other population estimating products are updated only once per year, STI: PopStats is updated every three months — in January, April, July, and October. Every quarter you’ll receive updated population estimates with over 850 data variables, along with revised estimates for eight previous quarters.
Key Benefits of STI: PopStats Demographic Data
- Pinpoints high-growth markets with industry-leading accuracy
- Improves decision making by identifying hidden market growth trends
- Lowers the escalating costs of in-field research
STI: Spending Patterns
STI: Spending Patterns delivers insight on consumers that can take you to a whole new level of market targeting precision. Consumer spending patterns are a powerful, yet often overlooked, tool that businesses use to assess market potential and pinpoint consumers who are likely to purchase specific products and services. Because STI: Spending Patterns is based on the most up-to-date consumer spending data collected by the Bureau of Labor Statistics, it gives savvy marketers the best possible insight available today on:
- What consumers are buying in specific geographic areas,
- How much they are spending in hundreds of relevant product and service categories, and
- What they have the propensity to spend on specific product and services.
The consumer consumption habits and purchasing propensities revealed in STI: Spending Patterns is created using the comprehensive consumer spending data collected every year by the Bureau of Labor Statistics (BLS) in two survey formats conducted with about 48,000 households representing about 120,000 consumers.
Every market-focused company uses demographic data to target consumers where they live. But only the most strategic companies also target consumers where they work using workplace estimates. Why do some companies care about workplace estimates? Because consumers who spend a large percent of their waking hours working in an area that is different from where they live, also purchase products and services near their workplaces from restaurants, banks, dry cleaners, drug stores, and more. So, by determining the workplace populations of markets, companies gain much more precise market insight and, therefore, more profitable site selection capabilities.
However, companies that are not using workplace population estimates are not ignoring them only because they lack an understanding of their power to support better market research, but also because the traditional workplace estimates have not delivered accurate numbers. STI: Workplace solves this long-standing problem by bringing accuracy to estimating workplace populations through an innovative new methodology. In fact, by using new workplace data sources and an innovative “bottom-up” analytic methodology, STI: Workplace delivers the most accurate workplace estimates available today.
What’s more, STI: Workplace adds considerable value to workplace market estimates by providing not just how many people work in a particular industry, but also their occupations and income levels. This additional consumer insight gives competitive, profit-focused companies a tremendous strategic advantage when deciding which location is the most likely to attract a large number of consumers and, ultimately, net the maximum return on investment.
Unlike other segmentation systems, STI: LandScape comes with not only geo-demographic segments, but a wealth of other lifestyle characteristics.
When designing STI: LandScape, STI realized that demographics do not entirely cover why people make the purchases that they make. To understand purchase behavior, you must see into the consumer’s perceptions and attitudes. Therefore, STI: LandScape is the first segmentation system to use non-demographic data, such as voting history, behavioral factors like health and even sexual orientation, in addition to standard demographics.
The report is divided into 4 distinct sections – the segments, population, secondary lifestyle indices and physical environment. A map is also provided and colored-coded to the contents of the report.
STI: LandScape is divided into 8 major categories that are broad interpretations for the segments they contain. Four of these categories are broken down into sub-categories to further refine them. These subcategories are nameless but can be referenced by the segment letter that is unique to each sub-category. For example, ‘E’, ‘F’, and ‘G’ are all sub-categories under the major category of ‘Going it Alone’. The most detailed level is the segments themselves. There are 72 in total. Each segment contains a simple alphanumeric abbreviation as well as a category name that is indicative of the type of people that belong to that segment. Within each sub-category, the wealthiest segment is always listed first followed by the second wealthiest and so forth and so on.
STI: LandScape is released annually in October of each year and is bundled with the July population and household estimates from STI: PopStats. If you require demographic breakouts such as Age, Income, Race, etc. please consult us regarding the purchase of STI: PopStats.
Secondary Lifestyle Indices
Secondary Lifestyle Indices are exclusive to STI: LandScape. Six of them are shown on this sample report, there are 16 in total. Each index is entirely mutually exclusive of the 72 predefined segments and one another. The indices are used to further refine the segments into truly unique clusters. For example, perhaps your business is sensitive to people with very conservative ideals, using the conservative index you can quickly identify those segments that tend to be conservative in this market. Remember each index is mutually exclusive of the segment. So where the segment ‘A1: Empire Builders’ may be relatively conservative in this trade area, they may be extremely liberal in another market.
Physical characteristics are simply a different form of index and are once again used to further refine the market. Environment can have a huge impact on consumer behavior. For example, climate dictates sales of linens versus woolens and elevation impacts cooking, baking and health. The product also is bundled with soft data (short verbal descriptions) on the 200 major regional areas that make up the continental US. This information is provided to further enhance the reports that you will be providing to others and ultimately will give your audience a well-balanced and informative overview of the physical market.
STI: Market Outlook
There are sales gaps in every U.S. market — in other words, consumer product needs and wants that are not being met. Finding what these unmet demands are in your trade areas requires precise analysis. STI: Market Outlook delivers the supply-demand insight you need to take proactive steps to supplying real and accurate consumer demands as they exist today.
When you choose STI: Market Outlook, you gain dependable insight, the first-mover advantage, and an ideal companion to other STI data products.
- Measures retail activity by common retail product categories. STI: Market Outlook provides a direct comparison between retail sales and consumer spending by industry sector, according to the leading retail product categories outlined by NAICS (the North American Industry Classification System).
- Allows you to capitalize on unmet product demand — especially in fast growing markets. In the consumer world, it’s all about first-come, first-serve. When you proactively identify demand gaps in your market, you gain the first-mover advantage, thereby, increasing your chances of winning greater consumer mindand pocket-share.
- Provides the companion data to STI: Spending Patterns. Market analysis using STI: Spending Patterns tells businesses how much consumers are willing to spend on common consumer products, such as a loaf of bread. STI: Market Outlook reveals the other side of the equation by comparing the current supply to the current demand of, for example, a loaf of bread. These two products work well together when market researchers want to gain in-depth knowledge of consumers in their markets.
Block groups have been the de facto geographic measurement instrument in trade area analysis for decades. But extracting the most current population estimates within subsections of the nation’s 209,000 block groups has been difficult, if not impossible.
While most population estimating products simply spread population growth across block groups based on historical averages, an innovative product now brings a finer level of granularity to the process. STI: BlockPoint leverages the power of the nation’s over eight million block points to give retailers, grocers, restaurants, developers, and other location-dependent businesses, population estimates that represent true population changes within all U.S. block groups.
See STI: BlockPoint Advantage – Today
STI: BlockPoint delivers a finer-grained view of population growth and a more expansive range of quarterly population demographics than has ever been available before.
Estimating Populations with Finer Granularity
Just as STI: PopStats gets its estimating strength from a unique calculation that combines the U.S. Census with residential ZIP+4 postal codes, STI: BlockPoint also gets its precision from the same methodology. However, STI: BlockPoint takes the population calculation one step further by allocating population growth to subsections within block groups based on actual changes.
For example, if 1,000 people have moved into a block group that has ten block points, but 70 percent of the new residents have moved into only the southwest quadrant, STI: BlockPoint can identify those specific areas of growth and calculate both population estimates and growth percentages for them.
Ideal Solution for an Aging Census
STI: BlockPoint overcomes one of the leading trade area research problems of our times — the aging 2000 U.S. Census. One of the downsides to this decennial Census is that population growth has changed significantly since 2000. Today many previously low-density block groups are among the country’s fastest growing areas. Conversely, many areas that had large populations have lost residents. But even more relevant is that growth and decline has rarely occurred uniformly across block groups.
STI: BlockPoint overcomes the disparity with its unique methodology. As a result, businesses gain another valuable tool at their desktops to more accurately assess population changes in new and existing markets.
1,000 Points of Data for Every Block Point
This add-on product to STI: PopStats both minimizes the challenges of expanding into high-growth block groups and maximizes the business opportunities that exist in fast-growing areas. And, just like STI: PopStats, STI: BlockPoint delivers today’s most robust range of quarterly residential population data.
The product provides access to 1,000 fields of residential data, including households, incomes, home values, expenditures, lifestyles, transience, ancestries, and more. The robustness of this population data, which is unprecedented in the market research industry, is specifically designed to meet the varying needs of a wide range of businesses.
PCensus Analyst is a powerful analyst tool that combines mapping, demographics and your data to create powerful analyses and compelling reports and visualizations.
Sitewise Pro is a data visualization and analytics solution providing decision support for market analysis and site selection. Create rich, analytical reports and maps with a few taps of your connected device or web browser.
Sitewise Mobile is a basic analysis tool that lets you understand the characteristics of a market or trade area. You can get in-depth reports from your iOS or Android devices.