Charlotte consumers spent more than $49 billion with retailers last year. The National Retail Federation forecasts 4.1% more will be spent this year.
Who are the shoppers that will be spending all this money?
According to Nielsen, 47.8% of retail dollars are spent by Charlotte area consumers over the age of 50. This may surprise many small business owners because older consumers comprise only 36.6% of the area's adult population.
These older consumers account for the largest share of spending in almost every retail category. This includes furniture, cars, pet supplies, fast food, and electronics.
To earn a share of these massive dollars spent by these older consumers requires Charlotte small business owners to advertise.