How America is Spending Money

How America is Spending Money

When you sell stuff, it is important to understand spending habits to adjust for locations, seasons and trends. The level of understanding, however, is what typically differentiates one merchant from another. Retailers and bankers have typically been the most complex groups of analysts I encounter, especially the bankers. Finding the resources to discover these habits is an infinite game, and often when a terrific resource is discovered, it goes “unshared”. Things have changed thanks to Bundle™.

Introducing Bundle

With a team of experienced statisticians and data junkies, Bundle has compiled, tagged and sorted data from a (nevertheless-expanding) collection of supplies. Their data comes from the U.S. government, from anonymous and aggregated spending transactions from Citi, and from third party data providers. Bundle updates their data on a quarterly basis so people can see the effects of seasonality on spending.

Bundle has released several powerful reports about how America is spending money, by category, city and demographic. In addition, you can compare data between 2 locations, immediately. Champion finds this useful when talking about Arizona’s economic amenities with people outside of Arizona. It can be difficult at times to explain the complicated character of Phoenix for example, which is surrounded my a myriad of other cities, in addition remains mostly symbiotic in every way. Our rare municipal circumstance is a difficult story to explain to people who have never been involved in real estate within an ecosystem such as metropolitan Phoenix.

What caught my eye initially with Bundle was that Austin Texas seemingly spends more on dining out than grocery shopping. Almost twice the US average! I was hooked. Then I discovered something that really got my attention. Scottsdale, per average household, not including mortgage or rent, is the #2 top spending city of all of America. Per household, Scottsdale seemingly spends $64,687 a year! Tucson is #8 spending $51,857 yearly in addition! The lowest city is Detroit at just a fraction of Scottsdale, spending just $16,446. If Manhattan stood alone, Scottsdale nevertheless spends more!

I see lots of fancy cars, lots of fancy homes, lots of fancy cloths and restaurants in Scottsdale. I never expected Scottsdale to nevertheless outrank every single American city other than Austin. I certainly never expected Austin to be quite as “weird” as this either. Los Angeles, New York City, Vegas and San Francisco individually spent less per house in 2009 then Scottsdale.

So naturally, Scottsdale is a huge retailing opportunity. We know this. It’s obvious if you just have one cup of coffee at Starbucks on Shea. But how can you turn this into a plan, to empower your retailing strategy?

We’d like to hear about your experience using Bundle’s data sets, infographics, charts and graphs. I feel at a minimum, Bundle can at the minimum help you plan on a national level which cities may have the most aligned opportunity to your business needs. I think national franchises would love it!

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