DSN 2018 DataBook: Top 20 retail markets

4/25/2018

Retailers always want to stay ahead of the curve when it comes to expansion. And there may not be a better barometer than the U.S. Census Bureau, which produces an official census every 10 years and annual estimates every year.

The results from the 2016 estimates offer few surprises. Most of the major metropolitan areas along both coasts and in Texas are growing at strong rates — either in percentage increases or in the sheer number of people moving there. It is in the heartland, specifically the upper Midwest, where growth is much slower as more people seek either better work opportunities or a better climate to live in.

Percentage-wise, Texas and California, as well as Arizona, showed very large increases in population, with such metropolitan areas as Dallas, Houston and Phoenix registering double-digit gains in population since 2010, and the San Francisco and San Diego markets growing by more than 7%.

The New York metropolitan area, while only growing at a 3% clip since the start of the decade, nonetheless added nearly 600,000 people to the region and is the only area with more than 20 million people. Second is the Los Angeles market with about 13.3 million residents.

One interesting trend, analysts noted, is that in several major regions, specifically along the East Coast, people are moving closer to the cities themselves, reversing a decades-long trend of suburban growth. That is particularly true with the New York, Philadelphia, Boston and Washington markets where many millennials and baby boomers are moving back into the cities or nearby.

In order to help retailers gain a better understanding of the largest metropolitan areas in the country, DSN is offering a capsule summary of the top 20 regions and what is driving each economy there. Plus, a look at the major retailers operating within each of those markets. Click a city below to read each profile.