8.1. SR 07-18-2016 - Laserfiche WebLink

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MARKET ANALYSIS City of Elk River, MN Feasibility Study * Page 27 Tapestry Segmentation Tapestry segmentation represents the 4th generation of market segmentation systems that began 30 years ago. The 65-segment Tapestry Segmentation system classifies U.S. neighborhoods based on their socioeconomic and demographic compositions. While the demographic landscape of the U.S. has changed significantly since the 2000 Census, the tapestry segmentation has remained stable as neighborhoods have evolved. The value of including this information for the Service Areas is that it allows the organization to understand better the consumers/constituents in their service areas and supply them with the right products and services. The Tapestry segmentation system classifies U.S. neighborhoods into 65 individual market segments. More than 60 attributes including; income, employment, home value, housing types, education, household composition, age and other key determinates of consumer behavior are used to identify neighborhoods. The following pages and tables outline the top 5 tapestry segments in each of the service areas and provides a brief description of each. This information combined with the key indicators and demographic analysis of each service area help further describe the markets that the Primary Service Area looks to serve with programs, services, and special events. For comparison purposes, the following are the top 10 Tapestry segments, along with percentage in the United States. The Primary and Secondary Services may or may not reflect these segments: 1. Green Acres (6A) 3.2% 2. Southern Satellites (10A) 3.2% 3. Savvy Suburbanites (1D) 3.0% 4. Salt of the Earth (6B) 2.9% 5. Soccer Moms (4A) 2.8% 15.1% 6. Middleburg (4C) 2.8% 7. Midlife Constants (5E) 2.5% 8. Comfortable Empty Nesters (5A) 2.5% 9. Heartland Communities (6F) 2.4% 10. Old and Newcomers (8F) 2.3% 12.5% APPENDIX B