Retail purchasing power offers a precise understanding of the real purchasing power in United Kingdom. This is because it provides a deeper insight into income after deductions for taxes, employers' contributions, and fixed costs such as rent, mortgage, and travel expenses. This valuable information allows users to gain an understanding of the market potential of each region, making it easy to know where to focus your next marketing efforts.
The data is readily available as an add-on for Spotzi Profiling and Spotzi Targeting, our geomarketing platform that simplifies the process of analyzing customers and developing marketing strategies. With Spotzi, data management is easy and hassle-free. If you want to find and target your best-fit customers, Spotzi is the ideal geomarketing platform for you.
Retail purchasing power refers to the amount of money an individual has at their disposal over a particular period of time. In other words, it is their (or their household’s) net income after taxes, employer deductions, and foundational lifestyle expenses are taken into account. Unlike retail purchasing power, "disposable income" datas do not account for life expenses such as mortgage and travel / automotive costs when calculating a net income after deductions.
Spotzi offers retail purchasing power data as a national index to enhance the comparability between different British postal code boundaries.
We calculate the national average purchasing power of United Kingdom, and set this as a baseline (index of 100). Postal codes with a higher average purchasing power than the national average will index higher (an index of 101+). An index of 200 would indicate that a postal code’s average purchasing power is twice that of the nation, and a postal code indexing at 50 would have half of the average purchasing power when compared to the national average.
In the example below you can find a map that gives more insight into the purchasing power of United Kingdom:
This British Purchasing Power Map of 2022 compares local purchasing power with other areas (Source: GfK Geomarketing)
Our intuitive dashboards allow you to breeze through otherwise-complex data analytics with the push of a button. Use any of our datas in a variety of insightful ways to answer questions unique to your brand.
Here are some examples of what you can learn using United Kingdom’s Retail Purchasing Power data:
All data is expressed in the national currency of United Kingdom (British Pound).