Interested in knowing more about your community's customers and trade area? Consulting with an Extension community economics educator will help you decide which approach to use to analyze your community's trade area.
Do businesses in your community know what their customers want? Visitors to your community's retail stores have needs and expectations. Extension's market area profiles (MAP) give businesses a thorough description of their customers. They also help answer questions such as:
- What new businesses might succeed in your community?
- Does your business plan work for your market?
- How might you increase profits by changing your inventory or expanding your product lines?
- What community events or festivals would attract more customers?
About market area profiles
The market area profile for your community would include:
- Market information directly from local consumers and business surveys
- An analysis customized to your customer base
- A discussion with your community about results, future plans and opportunities to increase sales
- Two consultations with a local study group to guide analysis
We would share with your community information on:
- The geographic reach of your community's trade area
- Types of customers that buy things in your trade area
- The demographics and income levels of households in your trade area
- Estimates of consumer spending
- Possible gaps in products or services offered in your trade area
Who may benefit from this research?
This research may help the following people and groups in your community:
- Chambers of commerce
- Economic development organizations
- Elected officials
- Local businesses
- Tourism organizations
$1,500 – $4,000
Review the market area profile reports below to learn about the work we've done in Minnesota communities.