Colorado Springs Public Market – Feasibility Study
Section 3 – Business Environment
1.3 earners per unit. Average income is $63,685 per year per consumer unit. Breakdown of males and females per unit is 47% and 53% respectively. Home owners equal 65% of all consumer units leaving 35% as renters. Sixty-two percent of all consumer units are college educated. The total annual expenditure per consumer unit is $49,705 (78% of income). Annual expenditures for food equal $6,458 (10% of income & 13% of expenditures). Of that amount, food at home equals $3,838 and food away from home equals $2,620. The specific breakdown of figures by food type can be seen in Table 3-1. Following our target demographic of ages 35 and above, the average expenditure for food at home (the primary product sold at the public market) is $6,717 per year per consumer unit. The target demographic for food away from home (restaurant goers) is ages 25-65. The average expenditure for this group and classification is $2,887 per year per consumer unit. Table 3-1 – Average Annual Expenditure Breakdown Per Consumer Unit ITEM
Food at Home Cereals Bakery Products Meat, Poultry, Fish & Eggs Beef Pork Other Meat Poultry Fish & Seafood Eggs Dairy Products Milk & Cream Other Dairy (Cheese) Fruits & Vegetables Fresh Fruit Fresh Vegetables Processed Fruit Processed Vegetables Other Food at Home Sugar & Other Sweets Fats & Oils Miscellaneous Foods Non-Alcoholic Beverages Alcoholic Beverages Food Away From Home 1.
All Consumer Units $3,838 $175 $356 $832 $223 $162 $123 $154 $121 $50 $407 $150 $257 $715 $247 $224 $116 $128 $1,353 $144 $110 $690 $361 $456 $2,620
Age <25 Years $4,354 $114 $222 $527 $137 $96 $63 $122 $69 $38 $244 $97 $148 $424 $132 $130 $80 $83 $850 $78 $61 $454 $236 $418 $1,973
Age 25-34 Years $6,211 $175 $303 $733 $188 $133 $110 $154 $103 $45 $379 $144 $234 $627 $210 $195 $107 $115 $1,230 $112 $95 $671 $319 $513 $2,764
Highlighted cells indicate consumer target market per item.
3-5
Age 35-44 Years $7,765 $218 $426 $1,006 $264 $200 $155 $190 $139 $59 $481 $188 $293 $841 $291 $254 $143 $154 $1,622 $179 $126 $834 $434 $497 $3,171
Age 45-54 Years $7,424 $201 $409 $965 $267 $178 $157 $182 $125 $55 $475 $172 $303 $803 $273 $258 $128 $144 $1,567 $163 $125 $779 $442 $494 $3,003
Age 55-64 Years $6,520 $161 $354 $894 $235 $183 $120 $152 $152 $50 $394 $137 $256 $734 $262 $239 $107 $125 $1,372 $152 $111 $677 $368 $468 $2,611
Age >65 Years $5,158 $142 $328 $671 $186 $138 $92 $108 $103 $245 $359 $126 $233 $663 $237 $206 $105 $115 $1,147 $136 $106 $577 $284 $338 $1,849