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Economic Impact Study 2023

Introduction

The 2023 BC Farmers’ Market Economic Impact Study builds upon the success of similar projects completed in 2012 and 2006, which were also led by BCAFM and Dr.David Connell. By using comparable methods, the study assessed changes over time.

This study measures market spending and spending at neighbouring local businesses, both of which contribute to the economic impact of farmers markets in BC. Quantifying the economic contributions of farmers markets encourages long-term support for local BC agriculture and food sectors, along with the thousands of farm and food businesses who sell at farmers markets across BC. Furthermore, this study demonstrates the role of farmers markets as integral low-barrier, direct sales channels for local BC producers and shoppers to connect, while showing us their essential role in local food security and food systems.

Check out the Economic Impact of our very own farmers market in Vancouver. Vancouver Farmers Markets operates nine markets through the year – seven in summer and two in winters. Our markets not just serve as spaces of fresh & local food but also buzzing centres of community and social integration. And this study highlights the most important element – the economic impact of our farmers markets.

Trout Lake Farmers Market

Key Highlights of the Economic Impact Study:

  1. Annual economic impact on the local economy: $7.1 million
  2. Annual direct sales: $4.75 million
  3. Average shopper spending per market visit: $60.87
  4. Over 104,00 visits and 78,000 shoppers annually

For more information and complete report.

 

 

Kitsilano Farmers Market

Key Highlights of the Economic Impact Study:

  1. Annual economic impact on the local economy: $4.44 million
  2. Annual direct sales: $2.96 million
  3. Average shopper spending per market visit: $47.30
  4. Approximately 83,500 visits and 62,600 shoppers annually

For more information and complete report.

 

 

West End Farmers Market

Key Highlights of the Economic Impact Study:

  1. Annual economic impact on the local economy: $4.63 million
  2. Annual direct sales: $3.09 million
  3. Average shopper spending per market visit: $46.56
  4. Over 88,400 visits and 66,300 shoppers annually

For more information and complete report.

 

 

Mount Pleasant Farmers Market

Key Highlights of the Economic Impact Study:

  1. Annual economic impact on the local economy: $1.77 million
  2. Annual direct sales: $1.18 million
  3. Average shopper spending per market visit: $35.44
  4. Over 44,300 visits and 33,200 shoppers annually

For more information and complete report.

 

 

Riley Park Farmers Market

Key Highlights of the Economic Impact Study:

  1. Annual economic impact on the local economy: $5.76 million
  2. Annual direct sales: $3.8 million
  3. Average shopper spending per market visit: $41.09
  4. Over 124,500 visits and 93,400 shoppers annually

For more information and complete report.

 

 

False Creek Farmers Market

Key Highlights of the Economic Impact Study:

  1. Annual economic impact on the local economy: $2.16 million
  2. Annual direct sales: $1.44 million
  3. Average shopper spending per market visit: $33.72
  4. Over 56,800 visits and 42,600 shoppers annually

For more information and complete report.

 

 

Downtown Farmers Market

Key Highlights of the Economic Impact Study:

  1. Annual economic impact on the local economy: $1.86 million
  2. Annual direct sales: $1.24 million
  3. Average shopper spending per market visit: $24.14
  4. Over 68,600 visits and 51,400 shoppers annually

For more information and complete report.