For decades, the conventional wisdom has touted this stat: 80% of consumer spending occurs within 20 miles of home.
We've cited that stat before, as have countless other respected sources like Forbes, Ebay, and MediaPost. All of which have quoted this statistic without attribution.
The problem is, the stat is a myth. It doesn't exist, as this writer documented.
Typically, they point to an official source identified simply as “US Census data,” but no link to a study or web page is given.
It really sounds good and seems to make sense.
But then again, what about the "retail-apocalypse?" What about the growth of online spending?