Environics Analytics Launches Two New Datasets On the Financial Status of Canadians
Toronto, August 23, 2012 – Environics Analytics, the marketing services and data analytics company, today announced the release of two new datasets detailing the financial status of Canadians. AgeByIncome 2012 and LiquidAssets 2012 will help businesses and not-for-profits better understand their customers and markets, and give them the ability to target their messages, products and services according to customers’ lifestage, income level and liquid assets. The data, new for 2012, classify households at the dissemination area (DA) level and report the counts of households cross-tabulated by age and income, age and liquid assets or income and liquid assets. With these all-new datasets, financial services companies, retailers, real estate developers and other organizations can define their target audiences as distinct demographic segments, such as under-35-year-old household maintainers with $100,000 to $250,000 in liquid assets. Users can then identity neighbourhoods with high concentrations of these custom segments.
AgeByIncome 2012
This national database features an age-by-income cross-tabulation of household maintainers detailing six age classes and six income classes for all 56,000 dissemination areas (DAs). The five household maintainer age classes are those under 35 years old, 35 to 44, 45 to 54, 55 to 64, 65 to 74, and 75 and older. The income classes categorize consumers in $20,000 increments up to $100,000+. Derived from custom Statistics Canada tables, AgeByIncome 2012 was created using sophisticated statistical processes to accurately model the data at the DA level.
“We basically used a new methodology to solve an old problem, to reliably model census tract data at the DA level,” says Tony Lea, Ph.D. Senior Vice President and Chief Methodologist of Environics Analytics. “This age-by-income cross-tab represents some of the most requested data we’ve yet to address.” The results will help customers better understand local markets. For example, developers seeking residents for a seniors’ community can use AgeByIncome 2012 to identify markets filled with 65- to 74-year-olds whose annual income is more than $80,000. In addition, AgeByIncome 2012 can be used as an overlay with PRIZMC2, the popular segmentation system that categorizes every Canadian into 66 distinct lifestyle groups. With it, users can find, say, those under-35-year-old members of Pets & PCs (large, upscale suburban families) or South Asian Society (younger, upper-middle-class South Asian families). “This dataset is a perfect compliment to PRIZM,” Lea explains.
LiquidAssets 2012
Another DA-level database, LiquidAssets 2012 measures the distribution of the households by liquid asset holdings. Furthermore, it provides this distribution broken out by both maintainer age and household income. The database features a wide range of age groups, income classes and asset classes; the income-by-asset grid consists of income classes in increments up to $100,000+. This dataset is especially useful for the investment community, including brokers, wealth managers and bankers looking to target very specific consumer segments.
LiquidAssets 2012 can be used by marketers to target everything from car loans to estate planning services using the age and asset data or the income and asset statistics. Financial companies can also use the database to market and calculate potential sales for specific products like stocks, mutual funds and GICs. Beyond the financial sector, retailers and fundraisers can use LiquidAssets 2012 to find consumers with significant wealth beyond what their household incomes would suggest, such as retirees on fixed incomes who still have substantial spending power due to sizable assets.