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, we are able to assess 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. In total, 70 farmers market assessments were completed across the province between May and September, 2023. This final report presents the findings from the assessment completed for the Duncan Farmers’ Market on June 10th, 2023. Additionally, this report includes partial results from the provincial analyses of BCAFM member markets. A full profile of provincial results is available in the BC final report.

2023 Study Highlights for the Duncan Farmers’ Market:
▪ Annual economic impact2 on the local economy: $5.64 million
▪ Annual direct sales: $3.76 million
▪ Average shopper spending per market visit: $42.84
▪ Over 116,900 visits and 87,700 shoppers annually
▪ 17% of participants self-identified as tourists or day-trippers to the market
▪ 24% of the survey respondents visit the farmers market either regularly (almost weekly) or frequently (2-3 times per month)
▪ Shopper spending at other local neighbouring businesses: $3.9 million
▪ 88% of study participants said that they would spend $50.96 each shopping or eating at other local neighbouring businesses

Read the full Duncan Farmers’ Market study here (pdf download)

2023 PROVINCIAL STUDY HIGHLIGHTS

• Annual economic impact of BCAFM member markets: $232.9 million
  • 28% growth from 2012 to 2023
• 4.95 million visits and 3.7 million shoppers annually
• Annual direct sales at BCAFM member farmers markets: $155.3 million
  • Average shopper spending per market visit: $42.50
• 17% of study participants self-identified as tourists or day-trippers
• Shopper spending at other local, neighbouring businesses: $118.51 million
  • 61% growth from 2012 to 2023
• 80% of study participants said that they would spend $47.17 shopping or eating at other local, neighbouring businesses in the farmers market area
• 87% of businesses interviewed report that their neighbourhood BCAFM member farmers market has a positive effect on their business

The overall growth of BCAFM’s economic impact can be attributed to an increase in:

• Number of BCAFM member farmers markets
• Number of large markets with more vendors
• Number of people shopping at farmers markets
• Number of market operating days

Learn more about the 2023 study here