Population growth is often a factor that service businesses and retailers look for when choosing locations. And while many are drawn to the large cities, smaller cities can offer just as much potential. That’s why in late 2017, we shared the top 16 fast-growing large micropolitan areas in the United States. And over two years later, it’s time for an update.
It’s that time of year when those of us in the business of retail real estate research are looking backward at the year prior. What retail categories grew? Which ones shrank? SiteSeer’s data partner, ChainXY, provides insights into over 4,500 chains in the United States and Canada. We dug into their three broad areas (retail, restaurant and services) to collect a snapshot of how chains that existed on January 1, 2019, grew or shrunk over the year.
Just as retail companies of all sizes have had to adapt in the digital era, so has the health care industry. Health care organizations have had to take a new approach to site selection, indeed, but for this data study, we’re looking at something else: the cost of health care.
SiteSeer's Look at the U.S. Cities with the Biggest Increase in Youth Population
If you’re a business that serves families with children, you’ve probably wondered: what areas in the United States are seeing the biggest increase in children? For our latest data study, we decided to take a look.
When you’re expanding your business, knowing the potential of your market is so important. And for many growing retailers, population growth is an important factor.
Growing retailers look to expand into markets where concentrations of their target consumers live, work or shop. A consumer’s lifestyle and life stage often define their preferences and behavior, and few factors better determine one’s lifestyle than education level. For this study, we wanted understand which markets were seeing an increase in education levels. To measure this, we looked at the change in the percentage of persons over age 25 that had no bachelor’s or master’s degree in 2013 compared to 2018. We also controlled for increases in bachelor’s degrees at the expense of master’s degrees, e.g. markets where the percentage of bachelor’s degrees increased while the percent of master’s degrees decreased.
If you’ve been reading this blog for any amount of time, you probably know this about the team here at SiteSeer:
Back in November, we assessed the top 16 fastest-growing large micropolitan areas in the United States. In case you need a refresher, a micropolitan area is defined by the Office of Management and Budget as a labor market area in the U.S. centered on a city with a population of at least 10,000 but fewer than 50,000 people. This is opposed to a metropolitan area, which has at least one city with a population of 50,000 or higher.
Every growing retailer wants to find the perfect location to expand their business. Large cities tend to capture the attention of many businesses, but don’t overlook “micropolitan” areas: markets with a core city of 10,000 to 50,000 population. These areas often have untapped potential and some distinct advantages over expanding into a larger market.