Page 17 - Georgetown Retail Merchandising Plan 11.7.16 - FINAL

PSYCHOGRAPHIC SUMMARY Psychographic Summary

Catalyst has completed a psychographic analysis to provide further 1. 18.7% of the PTA are senior citizens (aged 50s to 60s) who live Georgetown, Texas
comfortably and are retired or preparing to retire soon. They enjoy
context for the Georgetown PTA. Psychographics are useful in market above-average incomes and the ability to afford several vacations.
analyses because psychographics merge standard demographic Intuitively, few children live in these neighborhoods. In Georgetown, Sun Psychographic Segments
data into psychological/consumer preferences of various segments. City captures a large portion of these residents. by block group
Primary Trade Area
Psychographics provide an insight into individual values, attitudes, 2. 12.9% of the PTA is comprised of largely young Hispanic newlyweds City Limits
interests, behaviors, and product preferences. Exploring the and single parents with above-average number of young children.
psychographic characteristics by neighborhood segmentation They work steady blue-collar jobs, and incomes vary widely.
highlights the unique characteristics of the population base. This
type of information is important because interests, preferences, and 3. 11.7% of the PTA are young married couples that make $50,000-
lifestyles can be identified to prepare a retail strategy based upon $60,000 per year by working in various white-collar positions. These
couples tend to have young children and middle-class comforts.
local characteristics.
4. 11.0% of the PTA are established from a young age (median 20s
Catalyst used data from Synergos Technologies Inc. (STI), who and 30s) with above-average number of young children and incomes
developed psychographic data called Landscape to identify the ($70,000s-$80,000s). Income is often earned in management and
professional roles as opposed to self-employment.
psychographic profile of neighborhood segments. Landscape
neighborhood segmentation uses STI proprietary methodology to 5. 4.8% of the PTA are people who choose to live in mobile homes to
create psychographic segmentation at the census block and block increase flexibility and reduce costs. The median household income is
group level. Catalyst used Landscape data at the block group level to typically in the high-$30,000s-$40,000s, earned from predominantly
blue-collar professions. These neighborhoods are popular for married
identify the psychographic profile for Georgetown. couples in their 30s and single males.
STI data includes neighborhood segmentation across 72 categories 6. 3.8% of the PTA is made up of young married couples that earn $40,000-
(neighborhood segments) defined by STI. These neighborhood $50,000 annually and enjoy middle-class life with their children.
segments are groups of people who share similar psychographic 7. 3.6% of the PTA are young singles who have never married and do not
characteristics and are statistically different from other population have children. These are college-educated professionals who earn in
segments. The segments are based on national data and are distinct the $50,000s-$60,000s.
from districts referenced in this report. Each of these segments are TOP 5 PSYCHOGRAPHIC SEGMENTS
GEORGETOWN PRIMARY TRADE AREA
grouped into 15 summary neighborhood categories. 8. 3.4% of the PTA are well-educated singles who do not yet earn high
income (averaging $30,000s-$40,000s). Young age and high rate of Creme de La Creme Seasoned Urban Dwellers Married in the Suburbs Working With Nature Specialties
single parents are attributes that explain why these residents have not Empire Builders Gray Eminence Bonds and Babies Land Barons Golden Heritage
Great Generations
East Meets West
Fall Years
Fertile Acres
Grand Masters
The following are the dominant psychographic segments within yet been promoted to advanced white-collar positions. Marquis Class Thriving Alone Couples with Capital Breadbasket Group Quarters
Still in the Game
Farmers Circle
Doublewides
Kith and Kin
American Knights
Crops and Tractors
Sublime Suburbia
Urban Squires
Georgetown based upon the percent of total households. A Urban Cliff Climbers Gurus Retired in the Suburbs Harlem Gateway Centurions
Regents
Legacy Years
Wizards
Collegian
Harlem Gentry
Apprentices
Stocks and Scholars
description of these psychographics can be found in the appendix. 9. 3.4% of the PTA are classified as a cornucopia of communities linked by Charmed Life Going it Alone Marmalade and Money East Side Unspecified
Upper East Side
Unspecified
Stately Suburbs
young age, lower education attainment levels and blue-collar careers. Sitting Pretty SM seeks SF Living with Nature Lower East Side
Hard Act to Follow
Kindred Spirit
Middle of the Road Solo Acts Country Villas Between Jobs
White Collar Status Down But Not Out Pastoral Vistas Espaniola
Blue Collar Starts Struggling Alone Terra Firma Anos de Quincenera
10. 3.2% of the PTA are educated, white-collar 30-somethings who enjoy Urban Cliff Dwellers Urban Moms Stock in Trade Los Padres
Social Whirls Apron Strings Rough and Ready Los Novios
rural lifestyles and high incomes ($70,000s-$80,000s). Managing Business Single in the Suburbs The Outback Los Padrinos
Solemn Widows
Los Solteros
Nest Builders
0 Gainfully Employed 5 Educated Earners Cornucopia Los Trabajadores
Strapped Suburban Singles Source: STI
Hard Hats/Hair Nets
miles
1 Golden Heritage
When you think of senior citizens in America there are typically two images that come to mind. One is of very well off older
citizens living comfortably, usually by the ocean, having the money both for a nice primary residence and for frequent vaca-
tions (perhaps in a comfortable recreational vehicle), playing shuffleboard or cards, and basically enjoying their post- work-
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Georgetown Retail Merchandising Plan 2016
ing years to the hilt. The other image is less appealing: of older Americas struggling to make ends meet and waiting each
month for their social security checks to arrive. Market segmentation analytics bear out the reality of both of these images.
And Golden Heritage segments are neighborhoods that are home to the former: in other words, the senior citizens living the
good life in places like Florida, Arizona, and other appealing climates. The median age of these residents is 50s to low-60s.
But they also show a nearly four times average number of people over 65-years-old. These seniors are living comfortably
on incomes in the median range of the $50,000s and $60,000s. Much of their income is from social security and retirement
(two-and-a-half-times-above-average). However, they also have a 75-percent-above-average level of interest/dividend
income. Some of these seniors are still working at white-collar jobs in areas like management, professional and sales po-
sitions. There are many married-couples, but few children living in Golden Heritage neighborhoods. Obviously due to the
residents’ advanced years, these neighborhoods have a 50-percent-above-average level of widows and widowers.
2 Sitting Pretty
Among the Urban Cliff Climbers neighborhoods that are home to the backbone of America’s workforce are the Sitting Pretty
segments. This group is young (20s to 30s), but enjoying good income levels (between $50,000 and $60,000). Their relative-
ly high earnings range comes from middle-class white-collar jobs in several occupations, including management, protective
services, personal care, sales, office administration, and repair services. Their higher- than-average salaries keep them and
their mostly newborn to 13-year-old children very comfortable in their urban abodes, in all probability surrounded by all of
the creature comforts required to please all of the senses — from big-screen-high-def TVs to fully equipped SUVs. With
good college educations and good jobs, the Sitting Pretty residents have earned their comforts they enjoy.
3 American Knights
American Knights are the “youngsters” of the highly urban Crème de la Crème category of neighborhood segments. Not
only is the median age range in the 20s and 30s, but also these areas have an above-average number of children below the
age of six. These characteristics correlate to the higher-than- average number of married-with-children-under-18 house-
holds. Though young, these urban neighborhoods are home to higher-than-average number of earners in white-collar
management and professional occupations. These mostly college educated residents enjoy incomes in the $70,000s and
$80,000s, largely from salaries and wages. They also earn incomes at a slightly-higher-than-average level from interest/div-
idends. However, unlike many other Crème de la Crème neighborhoods, who have higher self- employment income levels,
the American Knights residents are just at the national average in this measurement.
4 Doublewides
In America there tends to be a particular stigma attached to living in mobile homes and mobile home parks. In fact, many
people chose this lifestyle as a preference for several reasons, including mobility and low-cost housing. The median income
of residents of Doublewides neighborhoods is a very respectable high-$30,000s and $40,000s. Doublewides are areas
were mobile homes dictate the lifestyles of the residents, who share a median age in the 30s. While residents in Double-
wides do have a higher-than- average level of income from public-assistance, many others are hardworking Americas, with
a higher-than-average representation in several manual-labor blue-collar occupations, including farming/fishing/forestry
(nearly three-times-average), construction (75-percent-above-average), repair services (over-50-percent-above-average),
transportation (50-percent-above-average), and production (nearly 50-percent-above- average). These occupations are a
reflection of the residents’ low educational achievements. There is an over-50-percent-average number of people with less-
than- high-school educations. However, 25-percent-above-average have high-school degrees. Also owing to their residents’
ages, these areas have slightly more younger children than older. They tend to have married-couple households, but also
have a nearly 50-percent- higher-than-average number of single-fathers.
5 Kindred Spirit
Kindred Spirits are home to people who keep America humming — because they are the ones doing the work, as well as
their fair share of the spending. The residents of these Urban Cliff Climber neighborhoods are 20- to 30-years-old, married
with- children of all ages (but slightly more in the younger ranges), earning between $40,000 and $50,000, enjoying some
years of college education, and employed in a cross-section of the nation’s middle-class occupations. These residents earn
an income slightly above the national-average in a wide range of jobs, such as protective services, food preparation, per-
sonal care, sales, office administration, construction, and repair services. With kids to raise and relatively good incomes,
Kindred Spirits no doubt enjoy a big slice of classic middle-class life.