Community pharmacy Moorabool Street Geelong

Summary

Growing, older population with above-average income, facing dense pharmacy competition.

The 10-minute drive catchment around 120 Moorabool Street holds 77,333 residents with a consumption per capita of A$53,856 a year, above the Australian average of A$52,583. However, the area already has 32 pharmacies, representing 4.14 stores per 10,000 residents compared with 2.68 across Australia.

Strengths, risks and what to check on site are in the conclusions at the end of this report.

People

Who lives there

The residents of the catchment next to the suburb, the local government area, the state and Australia.

Market

Competition

The pharmacies of the catchment: how many for every 10,000 residents next to the local government area, the state and Australia, and the nearest ones with their minutes by road from the site.

Travel-time bands: The areas that can be reached from a place within a given number of minutes (or kilometres) along the roads, by car, on foot or by bike: one band for each time or distance chosen.

Catchment: The people and the spending a store or a place can reach: everyone who lives within its travel-time bands.

Population: Residents from the official population estimate, spread over every address and added up inside each area: the figure of an area is the sum of its addresses.

Demand: The yearly spending in the sector that can be reached from a place within its catchment. It describes the catchment, not the people living at that address: catchments overlap, so the demand of different places does not add up. It is the part of the residents' spending that goes to the sector's stores, so it is smaller than their spending on the whole category of goods (Spending by category).

Supply: How much pull the existing stores of the sector already exert on a place. It is an index, not a share: 0 means that no store reaches it.

Opportunity: The part of the spending that a new opening could take from the stores already there. From one place, it is what an opening there could capture of the spending it reaches; added up over a catchment, it is the spending still open to competition, what new openings close to every resident could take: much more than one store captures (that is the Estimate).

Gravity model: Each store attracts spending in proportion to its pull and less the farther away it is: a new opening captures the share its own pull represents against the pull of every store within reach.

Spending by category: What the residents spend in a year on a kind of goods or services, from the national accounts categories, wherever they buy it: shops of every kind, online, travelling. The demand of a sector is the part of it that goes to that sector's stores, so it is smaller.

Consumption per capita: The average yearly spending of one resident on that product or sector.

Per 10,000 residents: How many stores there are for every 10,000 residents: a density, to compare areas of different size.

Old-age index: People aged 65 and over for every 100 aged 0-14: above 100 there are more older people than children.

Income and consumption indices: How the income and the spending of the residents compare with the national average, set at 100: 120 means 20% above it, 80 means 20% below.

Dynamic: The figures are worked out again with the latest data every time the report is issued.

Sources

• Residents by band: ABS, 2024
• Compared with the areas around: ABS, 2024
• Age groups: ABS, 2024
• Wealth indices: ABS, 2023