IV.Customer Analysis
This Section's Contents
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Demographic Profile of Target Market
[Company Name]will serve the residents of [company location] and the immediately surrounding areas.
The area residents we serve are affluent and are expected spend more on children’s clothing per capita than the national averages.
The precise demographics of the town in which our retail location resides is as follows:
| Wilmette | Winnetka | |
|---|---|---|
| Total Population | 26,097 | 10,725 |
| Square Miles | 6.89 | 3.96 |
| Population Density | 3,789.20 | 2,710.80 |
| Forecasted Population Change by 2017 | -0.02% | -3.76% |
| Population Male | 48.04% | 48.84% |
| Population Female | 51.96% | 51.16% |
| Target Population by Age Group | ||
| Age 18-24 | 3.68% | 3.52% |
| Age 25-34 | 5.22% | 4.50% |
| Age 35-44 | 13.80% | 13.91% |
| Age 45-54 | 18.09% | 18.22% |
| Target Population by Income | ||
| Income $50,000 to $74,999 | 11.16% | 6.00% |
| Income $75,000 to $99,999 | 10.91% | 4.41% |
| Income $100,000 to $124,999 | 9.07% | 6.40% |
| Income $125,000 to $149,999 | 9.95% | 8.02% |
| Income $150,000 to $199,999 | 12.20% | 11.11% |
| Income $200,000 and Over | 32.48% | 54.99% |
Customer Segmentation
We will primarily target the following three customer segments:
- Wealthy Parents: The store will attract wealthy parents looking to dress their children fashionably.
- Twenty and Thirty-Somethings: Whether or not they have children themselves, this customer group has friends and siblings who begin to have children and will be purchasing clothes for them as gifts.
- Grandparents: Grandparents will seek out high fashions for their grandchildren at [Company Name].
