March 17, 2011

Podcast: Data Hack–Using National Sales Numbers in your Local Market

How do you estimate sales in your local market, accounts, or region when you only have national category sales numbers? This quick podcast will discuss a method of using national category data to determine sales for your city, area, or account based on census data.

When considering ‘Per Capita Consumption’ for your category there are a couple of points to consider.

The USA has 308 Million consumers and for every billion $ in national category sales results in each USA consumer purchasing $3.24.

With these per capita numbers you can build city, county, or region sales and better understand and plan your market performance within specific accounts.

The below example provides national per capita vegetable consumption per USA consumer. With this number you can then extrapolate your local, region, or market sales opportunity and better understand your position within the competitive marketplace. Your product might fall into one of the top 50 categories from my list at this link.

Begin to use Census data in your planning and it is available at this link. The Census data is available and can supply total population for states, counties, and cities.

per cap findingvegetablechart1(400)

Another example using the 50 Categories list could be the ‘nuts’ category with $1.9B in national sales and with a per capita consumption of $ 6.16 per consumer per year. If your state has 9.9 million consumers you can extrapolate that all nut sales for the year will be approximately $61 million in the state in grocery stores.

I hope this information helps you to more accurately determine your areas market opportunity and plan for successful growth of your food enterprise.

 
Since 1987 Tim Forrest has served the food industry and the world’s largest food brands. Sign-up for Tim's insights, upcoming videos, and free reports.
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