Environics Analytics Launches New WealthScapes
Environics Analytics, the marketing and analytical services company, today launched a new edition of WealthScapes, its comprehensive financial database that measures the assets, liabilities and wealth of Canadians. Updated to December 2008, the latest version features an expanded database of more than 80 key financial and investment statistics at the census dissemination area (DA) level. Using WealthScapes 2009, financial institutions, charitable organizations, retailers and others can analyze the fiscal health of current and potential customers, identify promising markets and develop solid strategies to increase their market share.
Because the updated WealthScapes also offers historical data from the previous year, companies can undertake trend analyses to better understand the changing financial behaviour of their customers. As with last year’s release, WealthScapes 2009 was built using sophisticated modelling techniques and a wide variety of sources—such as the Bank of Canada, Canada Revenue Agency and Statistics Canada—to create the most reliable financial data available in the industry. In addition, the key variables used in WealthScapes were created to match the best available control totals in Canada so that they will be endorsed by Chief Economists.
“The original WealthScapes was the first balance sheet of assets and liabilities for every neighbourhood in Canada,” says Catherine Pearson, vice president and leader of the financial services practice at Environics Analytics. “The updated version is now the best source available for current financial data and changes in consumer behaviour that have occurred over time. WealthScapes 2009 is just the latest example of our commitment to build and continually enhance the best data products for our clients.”
Among the financial and investments statistics in WealthScapes 2009 are average net worth, income distribution, disposable and discretionary income, savings by type, investments by type (stocks, bonds, GICs and mutual funds), RRSP components of investments, mortgages, loans, lines of credit and credit card accounts. WealthScapes 2009 data are available at all levels of geography—including six-digit postal codes—and in all popular formats, such as XLS, MDB, DBF and CSV.
In the financial marketplace, the WealthScapes dataset helps companies calculate the potential for specific products like mortgages, estimate the wallet share of mutual funds in a trade area and identify consumer segments receptive to term deposits or GICs. The two years of trending data also provide users with valuable insights into how consumers and markets are reacting to the downturn to help marketers develop differentiated strategies, products and messages to suit their changing financial needs.
To ensure the accuracy of WealthScapes 2009, Environics Analytics (EA) partnered with finance expert Colin Deane, the managing director of Analytica Management and Consulting who oversaw the creation of the renowned Ernst & Young Wealth Report. His expertise aided EA’s chief methodologist, Dr. Tony Lea, in selecting and interpreting the most rigorous and authoritative control totals available for Canada and the provinces. EA’s financial estimates were generated not using geodemographic cluster-based rates but rather on each DA’s unique attributes. The data can be used for direct marketing or aggregated to precise estimates for bank and retail trade areas and sales territories.
“Whether you’re a bank, a retailer or a not-for-profit, WealthScapes will help you make smarter marketing decisions,” says Dr. Lea. “These data provide insight into the different ways Canadians are responding to the changing economic situation. With WealthScapes 2009, companies will better understand how to modify their marketing efforts accordingly.”