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BusinessMAP FSE: Tapestry Lifestyles

BusinessMAP FSE Financial Services Edition: Tapestry Lifestyles
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    ESRI’s Community Tapestry is one of the leading lifestyle segmentation systems.  Tapestry offers a rich means to understand and approach the diversity of American neighborhoods by segmenting US households into one of 65 distinct market segments, nested within 12 overall LifeModes or lifestyle summarization categories, along with 11 categories reflecting the degree of urbanization.  This is based on the old “birds of a feather flock together” idea, that people who live in close proximity to one another share characteristics that make them similar, and at the same time, different from those who live elsewhere.

    BusinessMAP FSE features these 12 Tapestry Lifemodes, helping a bank identify customer potential by lifestyle, and appropriately guide product and service offers, messaging and communication based on this knowledge.  These lifestyle modes also help a bank understand which segment or small group of segments is driving the success of the business or business line.

    The 12 Tapestry Lifemodes in BusinessMAP FSE  include:

    LifeMode Group: L1 High Society

    The markets in High Society are affluent and well educated. Although they represent slightly more than twelve percent of all U.S. households, they generate nearly one quarter of the total U.S. income.

    LifeMode Group: L2 Upscale Avenues

    Prosperity is the overriding attribute.  Like High Society, many in this group are also well educated with above average earnings --  but success has been earned from years of hard work, and the choice of housing among the segments in this group reveals their distinct preferences.

    LifeMode Group: L3 Metropolis

    Metropolis households live and work in America’s large and small cities. They live in older, single family homes or row houses, and tend to own fewer vehicles and rely more on public transportation where possible.  This is a more diverse group in terms of housing, age, and income.

    LifeMode Group: L4 Solo Acts

    The Solo Acts summary group features singles that prefer The City Life. Many are young, start-up households located in America’s more densely populated neighborhoods; some are well-established singles that have eschewed home ownership and child-rearing responsibilities. This group tends to be well educated, working professionals.

    LifeMode Group: L5 Senior Styles

    Almost 15 million households in the nine Senior Styles segments comprise Tapestry’s largest summary group. This large group illustrates the diversity within today’s “senior” markets. Younger, affluent seniors, freed of their child-rearing responsibilities, are traveling and relocating to warmer climates; while less affluent, settled seniors are looking forward to retirement and remaining in their homes.

    LifeMode Group: L6 Scholars & Patriots

    This summary group is unique in the Tapestry system. Their shared traits include youth, the attendant lower incomes, and environment: college life or military service.

    LifeMode Group: L7 High Hopes

    High Hopes seek the “American Dream” of home ownership and a rewarding job. Most live in single family houses or multi-unit buildings; just under half own their homes. Many are willing to move to a new location to seek better opportunities. Households in this group include a mix of married couples, single parent families, or single persons.

    LifeMode Group: L8 Global Roots

    Global Roots is characterized by ethnic diversity, with a strong Latino influence. In general, these households are young, with modest incomes and tend to rent in multi-unit dwellings. The youth of this group reflects recent immigration trends; half of all households have immigrated to the U.S. within the past ten years.

    LifeMode Group: L9 Family Portrait

    The Family Portrait group is Tapestry’s fastest growing population.  Youth, family life, and the presence of children are the common characteristics.  The group is young and ethnically diverse,.  Many own single family homes throughout these neighborhoods.

    LifeMode Group: L10 Traditional Living

    Traditional Living is “middle America” -- hard-working, settled families. They work hard to earn a modest living and typically own single family homes in more established communities.  Populations in these neighborhoods are experiencing decline as the younger generations migrate in search of better employment opportunities.

    LifeMode Group: L11 Factories & Farms

    Employment in manufacturing and agricultural industries is typical in these small, settled communities across America’s breadbasket. The rural South and Rustbelt areas change very little over time, creating a climate with few employment opportunities that hinders growth.

    LifeMode Group: L12 American Quilt

    American Quilt is predominantly rural, typically found in America’s small towns and rural areas, especially in the South and West.  They typically own modest, single-family houses or mobile homes.