Thursday, December 27, 2007

Fort Thomas Demographics

As I mentioned in a previous post, Focus on Retail, one of the three main ingredients to attracting retail is the demographics. Also in a previous post we compared socio-economic numbers for Fort Thomas to comparable, model retail locations. In this post I would like to focus on the age demographics of the community.

According to the US Census Bureau the following represents a summary of the percentages in the various age categories from the 1990 and 2000 census:

Categories 1990 2000
Total Population 16,031 16,495
Under 18 23% 25%
18 - 24 8% 7.8%
25 - 44 31% 29.1%
45 - 64 19% 22.3%
65+ 18% 15.8%

From these statistics there are a couple of things that stand out. The first is the shift from the over 65 age group to the 45 -64 age group. We see a 2.2% drop in the over 65 age group that is shifted to the 45 - 64 age group with an increase of 3.3%. The second shift that stands out is an increase in Under 18 age group of 2% that is off-set by the subsequent decrease of 2% in the 25 - 44 age group.

My opinion is that this paints two stories. The first is a decrease in the age of the community. The second is what appears to be the attractive nature of the school system in Fort Thomas. As I have seen from people I have met in Fort Thomas, it is the school system that caused them to move to the area. While it could also be families having more children I think the corresponding increase in the 45 - 64 age group shows it is more people moving in than just an increase in children to the same families.

This is the type of analysis that we need to communicate to potential retail investors. This is an attractive demographic for retailers. It is also important for the city to understand that with the shifting dynamic of the residents of Fort Thomas, they expect different things such as retail that they can have dinner at, a bakery they can buy fresh breads from, specialty groceries, or a relaxing night spot.

1 comment:

Anonymous said...

The most important thing in any sort of retail attraction is to look at physcographics, not demographics. You need to identify the customers not people. To my knowledge The Buxton Company is the only one that can factually identify which concepts should be in your community.