Market Study
This analysis provides an updated assessment of supply and demand in the historic district in a post-pandemic context. This project, carried out with financial support from the City of Montreal, spanned a period of nearly 10 months, combining field analysis and focus group data collected in the summer and fall of 2023.
*The studies and the master class are available in French only
Highlights
High Income
The majority of people surveyed have a family income higher than the median income in Quebec, established at $52,200 in 2020. In fact, over 51% of respondents have a family income of over $60,000 (with 20% indicating they belong to a household with an income exceeding $110,000).
New Residents
45% of surveyed residents are newly arrived (having lived in the neighbourhood for 2 years or less). 25% have lived there for 3 to 5 years, and 31% for more than 5 years.
Regular Visitors to the Neighbourhood
70% of the surveyed local clientele (residents of Montreal and its surroundings) say they have visited Old Montreal on at least 5 occasions. Additionally, 70% of surveyed Quebecois day-trippers (visitors from outside Greater Montreal) have been to the area at least 3 times. Among tourists, 25% have made 3 visits or more in the last 5 years.
Spending
Quebecois day-trippers are expected to spend the most in the neighbourhood on average; 47% plan to spend over $100 in the area's businesses.
Ambiance
The structural environment and the ambiance (architecture, atmosphere, activities, and layout) are the aspects most appreciated by visitors in general.
Getting Known
Word of mouth and online searches are the two most commonly used sources of information by visitors from outside Montreal when preparing for their time in the neighbourhood.
While satisfaction with Old Montreal and its businesses is high, visitors from abroad and tourists have a more positive appreciation than those who reside and work in Old Montreal.
Recommendations for Business Owners and Managers
Following the analysis of survey and focus group responses:
- Highlight the distinctive character of your business;
- Emphasize the added value your business brings to your customers;
- Optimize your business signage as much as possible;
- Establish or enhance your presence on Google Maps via Google My Business.
The SDC Vieux-Montréal can support you in these efforts through its various tools and platforms, including its directory, listing of the neighbourhood’s special offers, Member's Guide, as well as its training courses.
