Practice Areas
Market and Industry Analysis

Success in the marketplace comes from understanding the environment in which customers, businesses, economic conditions, and policies interact. Our team provides thorough analyses—customized for each client’s unique requirements—that objectively assess market supply and demand, project feasibility, regional economic conditions, business strategies, and location characteristics.

Services

Every market has opportunities… the challenge is to identify the most promising parts of a market, and to understand how competition affects the ability to sell to that market. Anderson Economic Group has over two decades of experience in performing geographic analyses of markets in every U.S. state, along with many areas internationally. Our analyses include:

  • Geocoding customer locations
  • Identifying a primary market area using customer and competitor location data
  • Identifying competitors and their natural trade areas
  • Overlaying relevant demographic, geographic, transportation network, and related data
  • Estimating likely loss of sales due to market incursion
  • Estimating available market potential
  • Preparing expert testimony regarding the consequences of breaches of contract or other causes of damages

Anderson Economic Group uses a state-of-the-art GIS facility that includes over 1,000 data series for every census tract in the U.S. This facility allows us to analyze the likely effects of market incursions, measure disruptions in logistic networks, and view the location of customers and competitors in relation to one another other.

By performing these analyses, we can estimate likely loss of sales, available market potential, consequences of contract breaches, and more. Our Market & Industry Analysis practice area, headed by Dr. Cristina Benton, regularly conducts such analyses and offers unmatched expertise in using GIS to identify both problems and solutions.

Example AEG Geographic Analysis of a Detroit-Area Market

Anderson Economic Group has over two decades of experience in performing retail location and distribution network analysis for retail clients and franchised businesses in markets across the U.S. Our analyses include:

  • Location analysis that considers relevant market features for the specific project, business, and proposal,
  • An analysis of market opportunity for proposed locations or relocations based on a set of market conditions and company goals, and
  • Identification of optimal location in the market, relying on customer convenience metrics, competitive environment, and market trends.

Anderson Economic Group uses a state-of-the-art GIS facility that includes the ArcGIS software and over 1,000 data series for every census tract in the U.S. This facility allows us to analyze retail locations in relation to market conditions, identify optional locations given the existing network and customer base, and measure customer convenience. Our analyses also build or update retail networks to bring the retailer closer to customers and increase market presence.

Examples of our retail location and distribution network analysis work can be seen in these projects and many others:

  • Auto Dealership Performance Assessment and Termination Criteria: Michigan Cadillac Dealership
  • Location Advantages for an Auto Supplier Exchange Firm
  • Automotive Market Study and Sales Assessment: Metro Detroit Automotive Dealers Association
  • Site Selection for Luxury Auto Dealer: Nationwide Automotive Group
  • All Amazon Finalists Rank Among Top 25 in AEG HQ2 Index
  • Location Analysis and Market Analysis: Lansing Community College
  • Commercial Damages Expert Report: Alaska Rent-A-Car vs. Avis Budget Group, Federal District Court

We carefully assess the sales performance of a business or retailer. Company sales are an unambiguous and important factor to consider when evaluating business performance. We analyze trends in sales volume and compare them to those of peer businesses or retailers in the market.

Success is relative to market opportunity. As such, our sales forecasts and performance assessments also quantify market opportunity. This measures sales potential as dictated by the market. We assess actual performance relative to this potential and identify constraints that may limit a business’s ability to reach the market’s potential. Our sales performance and forecasting analyses also consider the entrance of a new competitor into an existing sales territory, as well as major economic and market events such as an economic recession or natural disasters.

Examples of our sales performance work can be seen in these projects and many others:

  • Automotive dealership arbitration: 73 General Motors and Chrysler dealerships
  • Commercial damages expert report: Alaska Rent-A-Car vs. Avis Budget Group, Federal District Court
  • $20M settlement reached for U.S. consumers of Beck’s beer

Our industry studies and benchmarking assessments evaluate the state of an industry or place to identify new opportunities for businesses, community stakeholders, and investors. They allow trade associations, local chambers of commerce, and governments to better understand an industry or community’s size, strengths, and trends. Our analyses include:

  • An analysis of industry size and trends, including an assessment of industry employment, average wages, and growth and contraction trends;
  • An assessment of the overall “state” of a region or state;
  • An assessment of the industry or place’s strengths and opportunities;
  • Benchmarks and comparisons with relevant peers; and
  • An estimation of the industry’s economic and fiscal impacts at national, regional, or local levels.

Examples of our industry studies and benchmarking work can be seen in these projects:

  • Automation Alley
  • Business Leaders for Michigan
  • University Research Corridor
  • Project Management Institute
  • Detroit Music Industry
  • 2018 Tourism-Related Benefits in the Washtenaw County Economy
  • 2018 Tourism-Related Benefits in the Greater Lansing Economy
  • Healthcare and Life Science Industry Assessment: Oakland County, Michigan

We provide custom surveys of various groups, including:

  • Targeted groups of consumers
  • Association memberships
  • Event attendees
  • Customers
  • Community members
  • Employees

Our custom surveys are carefully crafted to measure perceptions, wants, and needs, as well as to collect important performance and demographic measures. We also facilitate focus group sessions to share concepts, gauge reactions, and collect input. Our surveys and focus groups are carefully designed to avoid bias and leading, ensuring useful and accurate results.

Our expertise in survey facilitation provides our consultants with valuable experience reviewing survey data. We can also review existing survey data for proper questions, to identify bias or leading language, and to provide consultation to remedy results from improperly administered surveys.

Examples of our survey and focus group work can be seen in these projects and many others:

ArtPrizeKent County Beer Tourism
Automation AlleyNorthern Michigan University
Business Leaders for MichiganSandusky OH Waterfront
Detroit Music IndustrySouth Lansing Retail
Ft. Custer Industrial ParkTrenton NJ Entrepreneurship
Grand River WaterwayWisconsin Business Climate

These studies provide organizers and event planners with detailed information on who is visiting a place or attending an event, and their economic impact on your region. Our rigorous methodology will reveal the attendance and economic benefits due specifically to an event or facility, which is necessary for effective marketing and fundraising. This include world renowned festivals as well unique sport events that draw attendees from across the country and other countries. Our economic impact studies rely on careful attendance estimates and accurate information on visitor spending gleaned from participant surveys and other market information (see “surveys and focus groups,” left).

Examples of our tourism and event impact work can be seen in these projects and many others:

  • ArtPrize
  • TulipTime
  • Kent County Beer Tourism
  • Grand River Waterway Study
  • Grand Rapids Whitewater Study
  • The Economic Impact of University of Michigan Football in the Ann Arbor Area
  • 2018 Tourism-Related Benefits in the Washtenaw County Economy
  • The School Year Calendar and Tourism in Michigan
  • 2018 Tourism-Related Benefits in the Greater Lansing Economy
  • Super Bowl to Bring Significant Boost to Detroit Area Economy

Our feasibility studies address retail, residential, commercial, and mixed-use projects to determine their viability in a given market and to identify highest and best use strategies for real estate. We follow a thorough and rigorous market analysis that include:

  • Location analysis
  • Delineation of a primary market area
  • Demographic and socioeconomic analysis of market areas
  • Trade area supply and demand analysis

Our real estate feasibility studies identify optimal volume, sizes, formats, and price points for any project. In addition to market feasibility assessments, we can also review financial feasibility. We can provide pro forma financial analyses to help developers and investors determine financial feasibility.

Our market assessments provide public and private sector clients with deep understandings of economic trends and conditions to reveal opportunities for development and business attraction. Our strategies focus on improving shopping districts, meeting housing needs, improving land utilization, and meeting market opportunities. Market strategies relies on our careful assessment of a place as well as on the community goals and stakeholder input.

Examples of our real estate work include:

  • Economic Impact of the St. Clair Power Plant
  • Downtown Retail Market Strategy: St. Clair, Michigan DDA
  • Residential and Retail Market Strategy: Downtown Sandusky, Ohio Waterfront District
  • Corridor Market Analysis and Retail Strategy: The Dorr Street Corridor Coalition, Toledo, Ohio
  • Ottawa County, Michigan: Housing Needs Assessment
  • Mixed-Use Market Study and Development Strategy: Northern Michigan University, Marquette
  • South Lansing Retail and Commercial Economic Strategy (study underway)
  • Entrepreneurial Ecosystem Mapping, Needs Assessment, and Incentives Inventory

For more information please visit our Community and Economic Development industry page.

Anderson Economic Group Consultants are real people analyzing real world data.

We work one on one with you to identify unique challenges and apply industry expertise to solve your most complex business problems.

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