The market potential is the budget spent by the households in a geographical area for a product or service. More specifically, SIRIUS Insight models the spending made by the consumers. The market potential is determined on the basis of detailed data such as income, population, spending in a specific category, Mosaic Belgium, family composition, employment, etc.
In this way, SIRIUS Insight calculates each year, for the 20,000 Belgian census districts, the market potential for numerous products and services such as food, clothing, energy, vehicles, organic products, restaurant visits, household appliances, etc.
This valuable information allows you to perform close monitoring of your market, as well as to estimate turnover for a new location, check performance, determine sales targets, etc. Finally, the geoconsumption model makes it possible to distribute this potential at local level.
The above maps represent different data used for calculating a market potential. In this case, data on household spending, household income, population and employment, as well as Mosaic Belgium information, are used to calculate and locate the market potential.
