It’s Part 2 of the Essential Sources series, and we’re back in the world of statistics for another post. Both of these titles are published by New Strategist Publications and offer easier access to BLS data.
Best Customers is another work based on the BLS’s Consumer Expenditures Survey. This book looks at spending patterns by demographic characteristics of households. It has a fairly extensive scope, including 300 common products and services. It is organized by housholder’s age, income, household type, and region of the country. It is even easier to read than Household Spending, since the tables are especially clear and explanations of terms appear on the tables themselves. These statistics have a variety of good uses. Most importantly, small business owners can use the information to decide which types of householders are most likely to spend money on their product or service, which is an effective way to organize a marketing campaign.
American Men & Women draws its data from the Census Bureau, the Bureau of Labor Statistics, the National Center for Educational Statistics, the National Center for Health Statistics, and the General Social Survey of Chicago’s National Opinion Research Center. Like Best Customers, this book is highly readable and offers all kinds of statistics about men as a group and women as a group. Many products and services appeal more stongly to one group than the other, so statistics that help the enterepreneur figure out if marketing and promotional materials need to appeal to one over the other.
We have one more statistics source to cover next time before we head into other kinds of our most frequently used Business Center resources.