Potential Purchasing Power in Innisfil

Since it’s the season for holiday shopping, it might be a good time to look at the amount of money that Innisfil residents spend for goods and services. Of course, the readily available (i.e. free) statistics available to me are a little dated. The numbers here are estimated from tables of average household expenditures for 2003. It wasn’t published until 2005. If anything, the following numbers probably underestimate the current retail spending in Innisfil.

The 2006 Community Profile of Innisfil published by Statistics Canada reported a median household income of $66,132 in 2005, and median after-tax household income of more than $56,000. (i.e. – half of households had a higher income, half had lower income). More current market profiles suggest that household income in some Innisfil neighbourhoods is in the range of $88,000 to $91,000. Based on those sources, total after-tax spending in Innisfil is about 600 to 800 million dollars – or more – per year.

Based on 2003 census data, here are some of the major spending categories, other than shelter, and the estimated amount spent per household annually in Innisfil:

Private transportation $ 10,103
Food 8,144
Recreation 4,485
Clothing 2,966
Household furnishings, equipment 2,160
Communications 1,478
Personal care 1,007

Other 2001 census data for Ontario gives some idea of how much is spent in various food categories based on weekly expenditures per person and an estimated total population of 38,000:

Expenditure for

Weekly

per person

Weekly

Innisfil

Food from stores

$ 32.45

$ 1,233,100

Meat

$ 6.81

$ 258,780

Dairy products & eggs

4.68

177,840

Bakery & cereal products

4.63

175,940

Fruits & nuts

3.90

148,200

Vegetables

2.96

112,480

Coffee & tea

0.51

19,380

Food from restaurants

14.53

552,140

Not all of the weekly purchases of Innisfil residents estimated above are made in Innsfil. Recently, a reader of the Innisfil Scope wrote a letter in which he suggested the following retail businesses for Alcona:

Gift shops, antiques, reasonably priced clothing stores, butcher shop, bakery, fishing supplies and a ‘country store’ (i.e. food and small household items). What sort of retail stores and services do you think would be a welcome addition in your neighbourhood?

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