“Back-to-class shopping is one of the most important consumer shopping occasions of the year," says Matthew Shay, President and CEO of the National Retail Federation (NRF). "Our research for 2023 shows American consumers are eager to jumpstart their back-to-school and college purchases early."
Based on per capita spending estimates from the NRF, Charlotte area parents are expected to spend a record $369,832,349 to prepare more than 448,600 children returning to grades K-12. These expenditures will exceed 2022 back-to-school sales by 12.5%
Expenditures to equip K-12 students in the Charlotte area will be on:
- Clothing: $135.4 million
- Shoes: $106.9 million
- Supplies: $69.5 million
- Electronics: $57.9 million
In addition to expenditures for K-12, $837.7 million is expected to be spent in the Charlotte area to prepare college students for their return to campus. This is 27% more than was spent last year. Another record.
The biggest spending categories to equip Charlotte area college students in 2023 will include:
- Electronics: $206.7 million
- Dorm/Apartment Furniture: $116.7 million
- Clothing: $111.4 million
- Food Items: $92.6 million
In order to capture the largest portion of this record back-to-class cash, Charlotte small business owners will need to fight to keep these dollars local. According to the NRF, a painful majority of shoppers plan to buy online and in department stores. While only 13-15% of consumers plan to buy locally.
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best way to advertise,
roi,
reach,
return on investment,
retail spending,
retail,
reach & frequency,
retail sales,
retail stores,
retailer,
advertising reach,
back to school,
advertising ROI,
education
Father's Day, this year, is June, 18. To celebrate the dads in their lives, 1.9 million Charlotte area consumers are expected to spend a record $251.1 million. According to a per capita forecast by the National Retail Federation (NRF), 2023 spending will be 14.5% more than last year.
“Father’s Day remains a momentous occasion for Americans to honor the important men in their lives,” NRF President and CEO Matthew Shay said. “Consumers plan to celebrate the holiday in a big way this year, and retailers are ready to help make it special.”
The record highs for both collective and average spending are primarily driven by an increase in the percentage of consumers purchasing clothing, electronics, personal care and special outings and the amount they are spending on these categories.
Overall 80% of all Father's Day spending will be concentrated into four gift categories:
- Special Outing: $85.4 million
- Clothing: $38.3 million
- Gift Cards: $30.6 million
- Electronics: $28.5 million
- Personal Care: $18.6 million
The remainder of the retail dollars Charlotte consumers spend will be for personal care, tools/appliances, sporting goods, greeting cards, and books/CDs.
The challenge for Charlotte area retailers, however, is keeping a significant share of these Father's Day dollars in local cash registers and out of the coffers of online sellers and department stores. Right now, according to the NRF, those two retail channels will gobble up almost 81% of all spending.
To earn a larger share of Father's Day spending, local small business owners will need to advertise to convince Charlotte consumers of the benefits of buying from local retailers. By almost every marketing metric, the best way to advertise is on Charlotte radio.
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best way to advertise,
roi,
return on investment,
retail spending,
retail,
retail sales,
retail stores,
retailer,
holiday advertising,
holiday shopping,
advertising ROI,
FATHER'S DAY,
father
Mother's Day is On May 14th this year. According to per capita data from The National Retail Federation, 1.9 million adult consumers in the Charlotte area plan to celebrate the occasion.
Between now and that special Sunday in May, the NRF expects a record $391.3 million to be spent in Charlotte to honor all the different moms in consumers' lives. Of those celebrating Mother’s Day, most (57%) are purchasing gifts for a mother or stepmother, followed by a wife (23%) or daughter (12%).
Comparatively speaking, Charlotte area consumers will spend 12.6% more to celebrate Monther's Day this year than they did in 2022, which was also a record year.
“Mother’s Day provides Americans with an opportunity to honor important women in their lives,” NRF President and CEO Matthew Shay said. “As people make plans to celebrate this year, retailers are prepared to help shoppers find gifts of appreciation and admiration for those they want to recognize on this special day.”
Almost half of all Mother's Day spending in the Charlotte area will fall into three categories:
- Jewelry: $85,494,709
- Special Outing: $61,380,817
- Electronics: $43,843,411
The other half of Mother's Day spending includes purchases of gift cards, clothing, flowers, personal services, housewares, books, and greeting cards.
The challenge for Charlotte area retailers, however, is keeping a significant share of these Mother's Day dollars in local cash registers and out of the coffers of online sellers and department stores. Right now, according to the NRF, those two retail channels will gobble up almost 68% of all spending.
To earn a larger share of Mother's Day spending, local small business owners will need to advertise to convince Charlotte consumers of the benefits of buying from local companies. By almost every marketing metric, the best way to advertise is on Charlotte radio.
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best way to advertise,
roi,
reach,
return on investment,
retail spending,
retail,
reach & frequency,
mother's day,
retail sales,
retail stores,
retailer,
advertising reach,
working mothers,
holiday advertising,
holiday shopping,
advertising ROI
Despite high-interest rates, inflation, and recession fears, Charlotte-area consumers are expected to spend between $56.2 and $57.3 billion dollars at retail in 2023, according to recent per capita forecasts based on a survey by the National Retail Federation. This will be a 4-6% increase over 2022.
“In just the last three years, the retail industry has experienced growth that would normally take almost a decade by pre-pandemic standards,” NRF President and CEO Matthew Shay said. “While we expect growth to moderate in the year ahead, it will remain positive as retail sales stabilize to more historical levels."
The challenge for Charlotte area retailers, however, is keeping a significant share of these dollars in local cash registers. According to the NRF, the amount of money spent online and non-store options will increase by 10-12%. This is nearly twice the growth rate of all 2023 retail dollars and translates to more than a $5.6 billion dollar outflow.
To keep the expected deluge of new retail dollars local, area small business owners will need to advertise to convince Charlotte consumers of all the benefits of buying from local companies. By almost every marketing metric, the best way to advertise is on Charlotte radio.
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best way to advertise,
roi,
reach,
return on investment,
retail spending,
retail,
reach & frequency,
retail sales,
retail stores,
retailer,
advertising reach,
advertising ROI
More than 1.8 million Charlotte area consumers are expected to celebrate Easter in 2023, according to per capita forecasts from The National Retail Federation. In all, the NRF predicts $263 million will be spent this year.
Not only will spending on Easter in Charlotte top last year's take by 16%, but it will also blow past the spending record of $237 million set in 2021.
“Easter endures as an important holiday for many Americans, signifying new beginnings and a time of celebration with friends and family,” NRF President and CEO Matthew Shay said. “As consumers plan to mark the occasion through a variety of traditions, retailers are dedicated to making this year a memorable holiday.”
According to the NRF forecasts, here's how Charlotte consumers are expected to spend their Easter Holiday cash:
- Food: $80.0 million
- Clothing: $43.8 million
- Candy: $41.6 million
- Gifts: $36.1 million
- Flowers: $19.7 million
- Decorations: $19.1 million
- Greeting Cards: $10.9 million
- Other: $9.8 million
There is one obstacle, however, between small business owners and this gargantuan pool of Easter cash.
According to the NRF, the vast majority of Easter shopping will be spent at discount stores, box stores, and online. Only 22% of spending will occur at local small businesses.
To Keep more of this cash in the Charlotte area, retailers will need to advertise to convince consumers of the values and benefits of buying from local small business owners. According to most marketing metrics, the best way to advertise in Charlotte is on local radio.
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best way to advertise,
small business,
small business owner,
small business marketing,
small business advertising,
retail spending,
retail,
retail sales,
retail stores,
retailer,
holiday advertising,
holiday shopping
Over the next 12 months, according to Nielsen, 371,860 Charlotte area households plan to buy furniture and mattresses. Based on a per capita forecast from Furniture Today, these expenditures will total $1.11 billion during 2023, a $20.1 million dollar increase over 2022.
Although the forecast growth of furniture and bedding sales is expected to moderate a bit versus 2021, what retailer would not want to grab a share of the multi-million dollar category growth this year?
To capture a bigger share of the increased spending on chairs, couches, beds, tables, and mattresses will require local stores to invest in marketing. And according to most key metrics, the best way to reach local furniture buyers is with advertising on Charlotte radio.
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radio advertising,
roi,
reach,
return on investment,
retail spending,
retail,
furniture,
reach & frequency,
retail sales,
retail stores,
retailer,
advertising reach,
mattress,
advertising ROI
Charlotte business owners should brace for a sweet Valentine's Day in 2023.
Based on per capita spending forecasts from the National Retail Federation (NRF), Charlotte area consumers are expected to spend $226.8 million on their Valentines this year, 8.4% more than they did in 2022.
Overall, says the NRF, 52% of consumers plan to celebrate Valentine's day this year. On average, each celebrant will spend $192.80 on holiday gifts and outings. This is $17 more than last year. Here is the most interesting part, though.
"While spending on significant others and family members is in line with last year, many consumers are looking to show appreciation for the other meaningful relationships in their lives," says the NRF. "Of the $17 increase in per-person spending, $14 comes from gifts for pets, friends, and co-workers, along with classmates or teachers."
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radio advertising,
valentine's day,
roi,
reach,
return on investment,
retail spending,
retail,
reach & frequency,
retail sales,
retail stores,
retailer,
advertise on radio,
advertising reach,
radio commercials,
advertising ROI,
advertise on Charlotte radio
Every week, according to new Nielsen data, 1,767,280 adults tune in to a Charlotte radio station. This is more consumers than use social media, access local cable, watch broadcast TV, stream video channels, listen to streaming audio, read a newspaper, or download a podcast.
Based on per capita estimates from the National Retail Federation (NRF), Charlotte consumers are expected to spend between $42.2 and $43.1 billion at retail in 2022, a six to eight percent growth over the previous year. Utilizing radio's enormous advertising reach, local business owners can compel shoppers to spend this large pool of cash in their stores and on their websites.
The number of consumers reached is critical to the success of an advertising campaign.
According to a Nielsen study, after the actual content of the commercial message itself, reach is the most potent advertising element that can drive sales. Reach is more important than brand, recency, or even context. Charlotte radio provides local business owners with the most significant reach among consumers.
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best way to advertise,
small business,
small business owner,
roi,
reach,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
reach & frequency,
retail sales,
retail stores,
retailer,
advertising reach,
in-car audio,
advertising ROI
Each week according to Nielsen, 1.9 million consumers tune in to a Charlotte radio station. This is significantly more adults than watch local TV stations, cable, or streaming video. It is more than browse social media. It is more than listen to streaming audio services or podcasts. It is more than read local newspapers.
There are two traits Charlotte radio listeners have in common. First, they are very loyal to their favorites, tuning-in to, on average, only 2.3 different stations each week.
Second, and of particular importance to Charlotte small business owners, radio listeners are returning to 'normal' at a faster rate than the general population after more than two years of pandemic.
Since the onset of the COVID-19 crisis, Nielsen has been measuring consumer sentiment in regard to normal behaviors. In a survey conducted in March of this year, 83% of adults say they are "ready to go and feel life is becoming more normal". This is up dramatically from the same time last year.
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best way to advertise,
consumer spending,
radio advertising,
small business,
small business owner,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
retail sales,
retail stores,
retailer,
consumer confidence
Eighty-four percent of all adults say they will celebrate Mother's Day in 2022. Based on per capita forecasts from the National Retail Federation (NRF), Charlotte consumers are expected to spend $270.1 million on the moms in their lives. This is a 13% increase over last year.
“Consumers are eager to find memorable ways to honor their mothers and other important women in their lives and are willing to spend a little extra on this sentimental holiday,” said NRF President and CEO Matthew Shay.
The NRF spending projections indicate that Charlotte consumers will spend $59.4 million on jewelry and another $44.9 million on special outings such as dinner or brunch. This will be the highest level of Mother's Day spending ever in these categories.
Here is how this large pool of Mother's Day cash in Charlotte is expected to be distributed by all retail categories.
The NRF research indicates that men will outspend women 3-to-1 this year on Mother's Day gifts. Most of these dollars will go towards presents for their moms, stepmoms, and wives.
Of all the money spent, Charlotte consumers are expected to spend 36% online, 30% at department stores, 27% at specialty stores, and 23% at local small businesses.
To compete for a share of record-high Mother's Day spending this year, local business owners will need to advertise. By most key marketing metrics, the best way to reach holiday shoppers is by advertising on Charlotte radio.
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roi,
reach,
return on investment,
retail spending,
retail,
reach & frequency,
mother's day,
retail sales,
retail stores,
retailer,
advertising reach,
holiday advertising,
holiday shopping,
advertising ROI
Charlotte-area consumers are expected to spend close to $42.9 billion at retail in 2022, based on per capita spending estimates from the National Retail Federation (NRF). This would be an eight percent increase versus 2021.
To capture significant shares of the increased retail spending, the 92,427 small business owners in the Charlotte area would typically invest in advertising. Persistent and pernicious inflation pressures, however, are starting to gnaw away at marketing budgets.
According to the National Federation of Independent Business Owners (NFIB), businesses cite inflation as their number one problem. For many Charlotte business owners, uncontrollable wholesale, transportation, and labor costs are forcing retailers to raise the prices they charge their customers. But, for many retail products, inflated retail prices can drive customers away.
To limit consumer price increases and still make a profit, Charlotte business owners, then, are forced to cut expenses, including advertising and marketing. This means it is now imperative that the limited investments retailers can make in advertising must deliver the strongest returns possible.
According to a recent study by Nielsen, advertising on Charlotte radio can provide the best return on investment (ROI) for local retailers.
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roi,
reach,
return on investment,
retail spending,
retail,
reach & frequency,
retail sales,
retail stores,
retailer,
advertising reach,
advertising ROI
There are 92,427 small business owners in the Charlotte area, according to the US Census Bureau. Each of these companies will need larger advertising budgets to successfully compete for a fair share of the expected explosion in consumer spending this year.
Based on new forecasts from The National Retail Federation (NRF), Charlotte-area consumers are expected to spend between $42.2 and $42.9 billion at retail in 2022, a six to eight percent growth over the previous year.
The NRF's forecasts exclude restaurants, gas stations, and automotive dealers. Included in the numbers, though, are non-store and online sales, which, in Charlotte, could reach as high as $10.2 billion this year. This level of spending would be 13% more than in 2021.
Even though the rate of growth rate for 2022 is lower than the 14% jump in 2021, the NRF points out that this year's spending will be well ahead of the 10-year, pre-pandemic growth rate of 3.7%
To participate in the expected surge in retail spending will require Charlotte business owners to advertise. Especially if retailers want to hold their own against the continued growth of non-store and online competition.
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Topics
best way to advertise,
radio advertising,
small business,
small business owner,
roi,
reach,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
reach & frequency,
retail sales,
retail stores,
retailer,
advertising reach,
advertising ROI
Attention Charlotte small business owners and retailers: nearly half of holiday shoppers are already spending money. According to the National Retail Federation, 49% of consumers will start their Christmas season shopping before Hallowe'en.
Consumers plan to spend $997.73 on gifts, holiday items, and other non-gift purchases for themselves and their families this year, according to the annual survey released today by the NRF and Prosper Insights & Analytics.
In all, based on forecasts from Deloitte, the world's largest accounting firm, Charlotte consumers are expected to spend between $10.9 and $11.1 billion during the holiday shopping period. This would be a 7-9% increase over 2020.
"We anticipate strong consumer spending for the upcoming holiday season. As vaccination rates rise and consumers are more comfortable being outside of the home, we are likely to see increased spending on services, including restaurants and travel, while spending on goods will continue to hold steady. A steady decline in the savings rate to pre-pandemic levels will support consumer spending and keep retail sales elevated this season," said Daniel Bachman, Deloitte's U.S. economic forecaster. "Further, e-commerce sales will continue to grow as consumers demonstrate an ongoing and steady movement toward buying online across all categories."
Charlotte retailers are noticing that the opening bell for holiday shopping has rung earlier than ever for local shoppers.
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small business,
small business owner,
roi,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
parent,
children,
retail sales,
retail stores,
retailer,
millennial parents,
holiday advertising,
holiday shopping,
christmas,
advertising ROI,
online shopping,
shopping
Charlotte consumers are on track to spend more than $38.8 billion at retail this year, based on projections by the National Retail Federation (NRF). Spending is expected to be 13.5% higher than last year.
Some Charlotte small business owners, though, are wondering if the spread of the Delta Variant may slow spending if consumers sense pressure on their own financial security. Shoppers, however, don't see it that way.
New research from Nielsen indicates that 82% of consumers believe their household finances will either remain the same or improve during the upcoming months.
The Nielsen study has another finding that Charlotte business owners will find promising. Consumers are more likely to shop locally than they did before the onset of the pandemic, although in different ways.
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best way to advertise,
consumer spending,
roi,
return on investment,
retail spending,
retail,
retail sales,
retail stores,
retailer,
advertising ROI,
shopping
Charlotte business owners who sell goods and services related to Halloween can expect far more treat than trick this year.
Based on estimates from The National Retail Federation (NRF), Charlotte consumers are expected to spend a record $86,409,813 on Halloween. This would be 19.3% more than was handed out in 2020.
The NRF estimates that 65% of consumers intend to celebrate Halloween or participate in Halloween activities this year, up from 58% in 2020 and comparable with 68% in 2019 before the COVID-19 pandemic.
The top ways consumers are planning to celebrate include handing out candy (66%), decorating their home or yard (52%), dressing in costumes (46%), carving a pumpkin (44%), and hosting or attending a party (25%).
Charlotte small business owners looking to scare up a share of this Halloween cash will need to advertise to drive local consumers to their stores and websites. But, to make a difference, advertising needs to begin right away.
"This year consumers are shopping for Halloween items earlier than ever," says the NRF, "with 45% planning to shop in September or earlier and another 39% during the first two weeks of October."
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Topics
best way to advertise,
radio advertising,
roi,
return on investment,
retail spending,
retail,
children,
retail sales,
retail stores,
retailer,
halloween,
advertising ROI,
pet owners
To maximize success, every Charlotte business owner needs to advertise.
"Think you have a great product?" asks the US Small Business Administration. "Unfortunately, no one’s going to know about it unless you advertise.”
The SBA goes on to say, “Advertising, if done correctly, can do wonders for your product sales, and you know what that means: more revenue and more success for your business.”
According to the US Census Bureau, there are 92,497 small businesses in the Charlotte area. This geography includes Charlotte, Concord, Gastonia, and every point in between. Most of these diminutive companies have limited dollars to invest in advertising.
Advertising successfully in Charlotte is achievable, though, with a small budget if the available funds are invested wisely. Oftentimes, this means selecting one medium rather than spreading money over several.
So which medium makes the most sense for small business owners with limited budgets? By most key advertising metrics, advertising on Charlotte radio is the best option.
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best way to advertise,
radio advertising,
small business,
small business owner,
reach,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
reach & frequency,
retail sales,
retail stores,
retailer,
advertising reach,
radio commercials,
advertising ROI,
duplication
There are 448,600 school-aged children in the Charlotte area. Based on forecasts from the National Retail Federation (NRF), local parents are expected to spend a record $316 million to prepare these kids to return to the classroom this fall.
Overall, the NRF expects back-to-school shoppers to spend almost 10% more in 2021 than they did last year.
“The pandemic forced parents and their school-aged children to quickly adapt to virtual learning, and they did it with an incredible amount of resolve and flexibility,” NRF President and CEO Matthew Shay said. “We enter the new school year with plans to return to the classroom and retailers are prepared to help Americans find and purchase whatever they need to make this transition as seamless as possible.”
According to the NRF, more than 51% of parents have already started buying for their K-12 students. But, for Charlotte business owners there is still time to benefit.
The NRF reports that nearly 76% of K-12 shoppers are still waiting on lists of school supplies needed. On average, consumers have only completed 18% of the shopping.
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best way to advertise,
retail spending,
retail,
parent,
children,
retail sales,
retail stores,
retailer,
back to school,
millennial parents
Retail spending in the Charlotte area is expected to reach $38.8 billion this year, a 13.5% increase versus 2020. These estimates are based on a revised forecast from the National Retail Federation (NRF).
Since March 18, 1922, when WBT-AM signed on as the first station in Charlotte, local business owners have depended on radio advertising to help market their goods and services to North and South Carolina consumers. But has the Coronavirus pandemic altered the medium's ability to deliver customers to ring up sales for local retailers?
Two critical marketing metrics indicate that advertising on Charlotte radio remains the best way for a small business to advertise.
The first measurement is reach. This is the number of different consumers who are exposed to an advertising campaign.
The second measure is return-on-investment (ROI). This is the amount of sales a business can expect for every one dollar invested in advertising.
Based on these metrics, here is how advertising on Charlotte radio measures up to other options available to local small business owners.
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radio advertising,
small business,
small business owner,
roi,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
retail sales,
retail stores,
retailer,
effective advertising,
advertising ROI
Earlier this year, based on projections from The National Retail Federation, Charlotte-area consumers were expected to spend more than $36.8 billion at retail this year, a 6.5% increase versus 2020. New data, however, indicates spending will be remarkably higher.
The NRF revised its data this month, and now expects annual growth of 10.5% to 13.5%. Based on these revisions, the Charlotte area retail economy could now top $38.8 billion. Excellent news for North Carolina small business owners.
“The economy and consumer spending have proven to be much more resilient than initially forecasted,” NRF President and CEO Matthew Shay said. “The combination of vaccine distribution, fiscal stimulus, and private-sector ingenuity have put millions of Americans back to work. While there are downside risks related to worker shortages, an overheating economy, tax increases and over-regulation, overall households are healthier, and consumers are demonstrating their ability and willingness to spend. The pandemic was a reminder how essential small, mid-size and large retailers are to the everyday lives of Americans in communities nationwide.”
To put in historical context for Charlotte small business owners, Mr. Klenhenz noted that he anticipates the fastest growth the U.S. has experienced since 1984. The reopening of the economy has accelerated much faster than most had believed possible a year ago.
To capture the largest possible share of spending growth, local retailers will need to advertise. By the most crucial marketing metrics, the best best way to reach area consumers is by advertising on Charlotte radio.
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Topics
best way to advertise,
radio advertising,
small business,
small business owner,
roi,
small business marketing,
small business advertising,
retail spending,
retail,
retail sales,
retail stores,
retailer,
advertising ROI
A surge in pet adoptions and sales during the pandemic has increased the number of pet owners in the Charlotte area to 1,142,277, according to Nielsen.
As a result, the amount of money that will be spent in the Charlotte area during 2021 on domestic dogs, cats, birds, ferrets, and other cuddly creatures will achieve a record-high $934 million. These figures are based on recent forecasts from The American Pet Products Association (APPA),
“We have reached a critical milestone in 2020, generating $103.6 billion in sales [in the U.S.],” said Steve King, President, and CEO of APPA. “We are bullish for the coming year, projecting growth of 5.8% - well above the historical average of 3 to 4%."
Charlotte pet owners will be spending in four ways:
- Food & Treats which includes everything from canned and bagged food to biscuits and chewies.
- Veterinary Care and Product Sales which includes routine veterinary care, surgical procedures, and sales of pharmaceuticals and other products through veterinary clinics
- Supplies, Live Animals, and Over-The-Counter Medications which, in addition to dogs and cats. includes fish, birds, small animals, and reptiles. This also includes cages, food and water bowls, as well as leashes and collars. OTC includes medications for allergy relief, gastric distress, and oral hygiene.
- Other includes services such as boarding, grooming, and pet sitting.
To capture a significant share of the local pet economy, local business owners who provide these four types of goods and services will need to advertise. By almost any marketing metric, the best way to reach pet owners is by advertising on Charlotte radio.
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Topics
best way to advertise,
millennials,
reach,
return on investment,
retail spending,
retail,
reach & frequency,
retail sales,
retail stores,
retailer,
advertising reach,
advertising ROI,
pet owners,
dog owners,
cat owners
There are 559,886 millennials in the Charlotte area. The oldest of them turn 40 this year. According to The Pew Research Center, millennials comprise the generation of Americans born between 1981 and 1996.
As a consumer group, millennials account for an outsized percentage of retail spending. This generation represents 25.9% of the Charlotte area population but almost one-third of metro-area sales.
All in, Charlotte millennials are expected to ring up more than $16.9 billion in purchases during 2021. You name it, millennials are planning to buy it.
According to Nielsen, over the next 12 months, Charlotte millennials will be showing up in huge numbers at auto dealerships, furniture stores, mattress stores, appliance stores, home improvement stores, and scores of other area retailers and service providers.
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best way to advertise,
small business,
small business owner,
millennials,
roi,
reach,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
reach & frequency,
retail sales,
retail stores,
retailer,
advertising reach,
millennial parents,
advertising ROI
Charlotte consumers are expected to spend nearly 7% more at retail in 2021 than in 2020. This forecast is based on recently released data from the National Retail Federation.
To lay claim to a significant share of growing consumer spending, North Carolina retailers will need to advertise.
“Think you have a great product?” asks the US Small Administration. “Unfortunately, no one’s going to know about it unless you advertise.”
“Advertising, if done correctly, can do wonders for your product sales, and you know what that means: more revenue and more success for your business."
Scientifically speaking, the fastest way a marketing message can reach the areas of a Charlotte consumer's brain responsible for purchase decisions is through the ear. That's why audio advertising can be far more potent than visual messaging.
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best way to advertise,
radio advertising,
small business,
small business owner,
spotify,
pandora,
small business marketing,
small business advertising,
retail spending,
retail,
streaming audio,
retail sales,
retail stores,
retailer,
sirius/xm,
podcasts
Charlotte area consumers are expected to spend upward of $36.8-billion at retail in 2021. This would be, at minimum, a 6.5% jump over 2020. The forecast is based on newly released estimates by the National Retail Federation.
“Despite the continuing health and economic challenges COVID-19 presents, we are very optimistic that healthy consumer fundamentals, pent-up demand and widespread distribution of the vaccine will generate increased economic growth, retail sales and consumer spending,” NRF President and CEO Matthew Shay said.
“From the outset of the pandemic, retailers have gone above and beyond even the most conservative safety guidelines to protect and serve their associates and consumers alike."
To capture the largest possible share of spending growth, local retailers will need to advertise. By the most crucial marketing metrics, the best best way to reach consumers is by advertising on Charlotte radio.
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Topics
consumer spending,
radio advertising,
small business,
small business owner,
small business marketing,
small business advertising,
retail spending,
retail,
retail sales,
retail stores,
retailer
Since 1922, advertising on Charlotte radio has helped small business owners survive and thrive during times of peril. This includes world wars, natural disasters, depressions, and recessions.
Even during a pandemic, by almost every key marketing metric, radio advertising remains the best way for a Charlotte business to market its goods and services.
To prove the point, here are five statistics that vividly demonstrate the value of advertising on Charlotte radio.
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best way to advertise,
roi,
reach,
return on investment,
retail spending,
retail,
retail sales,
retail stores,
retailer,
web traffic,
website visitor,
in-car audio,
radio commercials,
radio listening,
listening location,
advertising ROI,
online shopping,
advertise on Charlotte radio,
website traffic
There is cheerful news for small business owners from Davidson to Matthews and every city and town in between.
Based on the latest projections from the National Retail Federation, holiday sales are expected to grow 3.6%-5.2% over 2019. This means despite the economic ravages of the pandemic, Charlotte area shoppers will be spending between $6.4 and $6.5 billion on gifts and other trappings of the season.
The NRF forecast is based on an economic model that takes into consideration a variety of indicators including employment, wages, consumer confidence, disposable income, consumer credit, previous retail sales and weather. NRF defines the holiday season as November 1 through December 31. Numbers forecast by NRF may differ from other organizations that define the holiday season as a longer period or include retail sectors not included by NRF, such as automobile dealers, gasoline stations and restaurants.
"Consumers have shown they are excited about the holidays and are willing to spend on gifts that lift the spirits of family and friends after such a challenging year," says NRF President and CEO Matthew Shay. "We expect a strong finish to the holiday season."
“Given the pandemic, there is uncertainty about consumers’ willingness to spend, but with the economy improving most have the ability to spend,” NRF Chief Economist Jack Kleinhenz said. “Consumers have experienced a difficult year but will likely spend more than anyone would have expected just a few months ago."
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consumer spending,
small business,
small business owner,
television advertising,
roi,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
television,
retail sales,
retail stores,
retailer,
cable television,
holiday advertising,
holiday shopping,
christmas,
advertising ROI,
consumer confidence
Charlotte shoppers are expected to spend a record $6.7 billion online in 2020, based on the most recent projections from eMarketer. This would represent year-over-year growth of 32.4%.
During the same period, according to eMarketer, receipts at brick-and-mortar stores have contracted by 3.2%. Overall, excluding gas and auto sales, e-commerce will account for 20.6% of all retail sales this year.
The Coronavirus pandemic is credited with this seismic shift in shopping behavior as consumers continue to avoid stores and opt for online shopping.
“We’ve seen e-commerce accelerate in ways that didn’t seem possible last spring, given the extent of the economic crisis,” said Andrew Lipsman, eMarketer principal analyst at Insider Intelligence. “While much of the shift has been led by essential categories like grocery, there has been surprising strength in discretionary categories like consumer electronics and home furnishings that benefited from pandemic-driven lifestyle needs.”
Even before the onset of the pandemic, 80.8% of Charlotte consumers had bought goods online over the prior six months, according to Nielsen research. Purchases included clothing, health & beauty products, travel reservations, books, furniture, and groceries.
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best way to advertise,
radio advertising,
online advertising,
retail spending,
retail,
retail sales,
retail stores,
retailer,
web traffic,
website visitor,
attrubution,
e-commerce,
advertise on radio,
online shopping
There is positive news for the 92,000 small businesses in the Charlotte-Concord-Gastonia, NC-SC metro area. A majority of consumers say they are ready to start shopping again.
A lifestyle survey just released from Nielsen indicates 53% of Americans believe that despite the continuing pandemic, life is beginning to normalize, and they are likely to resume typical activities. Nielsen refers to this majority as "Ready-To-Go".
According to the survey, Ready-To-Go consumers now perceive less risk, feel safer, and believe their cities are emerging from crisis.
The key takeaway for Charlotte small business owners is that Ready-To-Go consumers are significantly more likely to start shopping within 30 days than the total population. These buyers, according to Nielsen, are looking to spend on home improvement, professional services, auto parts/repair, shopping, food & dining, and travel.
To capture a meaningful share of the money Ready-To-Go consumers will be spending requires local small business owners to advertise. By almost every metric, advertising on Charlotte radio is the best advertising option.
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consumer spending,
radio advertising,
small business,
small business owner,
roi,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
retail sales,
retail stores,
retailer,
advertise on radio,
advertising ROI,
consumer confidence
Every week, according to Nielsen, significantly more consumers are reached by local radio than by Charlotte TV.
For Charlotte small business owners whose marketing budgets have been ravaged by the pandemic, though, the question is which of these media can provide the best return for their advertising investments. An ROI study conducted by Nielsen and commissioned by Cumulus Media | Westwood One provides a conclusive answer.
Between April 30 and May 27 of this year, Nielsen analyzed the sales results of a major retailer who conducted an advertising campaign on both radio and television during that period.
Using their Portable People Meter panel of 80,000 consumers, Nielsen measured the purchase behavior of consumers who were exposed to the advertiser's commercials on both radio and television. To learn more about the methodology, click here.
The result of the study indicates that the money invested in radio advertising had a much stronger return than the money spent on TV.
Here are the key findings of the ROI study:
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radio advertising,
small business,
small business owner,
television advertising,
roi,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
television,
retail sales,
retail stores,
retailer,
cable television,
advertising ROI
Now would be a good time for Charlotte small business owners to consider increasing their advertising expenditures.
There are just over 92,000 small businesses in the Charlotte-Concord-Gastonia, NC-SC metro area, according to the U.S. Census Bureau. Based on some promising retail sales data, the Overall Sentiment Index among local small business owners has improved 28.5% between April 26 and October 12 of this year.
The best news for business owners came from the Commerce Department on Friday when it reported that retail sales rose by a seasonally adjusted 1.9% in September. This is the fifth straight month of gains.
Local retail gains are being powered by improving consumer confidence and a large pool of cash sitting in people's savings accounts.
The Conference Board's Consumer Confidence Index jumped to 101.8 in September, up 17.9% from August. This means consumers are in the mood to spend. Fortunately, they have money in the bank to do so.
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consumer spending,
small business,
small business owner,
millennials,
roi,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
retail sales,
retail stores,
retailer,
millennial parents,
advertising ROI,
consumer confidence,
purchase intent
There are over 2.2 million adult consumers in the Charlotte area. Collectively, in a typical year, these shoppers would generate $49.6 billion in retail sales. This money would be spent on cars, shoes, fast-food, entertainment, groceries, mattresses, adult beverages, haircuts, makeup, and an over-abundance of other of goods and services. Their money was being spent on both the essential and the frivolous.
The way Charlotte consumers spend money changed radically in March as COVID-19 began to spread. Six months into the pandemic, shopping strategies are about to change again.
It started with panic buying. Consumers began ignoring prices and were paying what was ever necessary to ensure the safety, health, and comfort of their families. According to Nielsen, this sudden spike in demand caused widespread price increases. To put it in perspective, retail prices shot-up in 64% of all product categories stocked in grocery stores.
Almost immediately, advertising messages from local retailers shifted from promises of low prices and convenience to product availability and shopper safety.
Based on new research from Nielsen, consumers' shopping strategies are beginning to shift again. This will require Charlotte small business owners and retailers to also change their advertising strategies, too.
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small business,
small business owner,
roi,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
retail sales,
retail stores,
retailer,
corona,
coronavirus,
covid 19,
pandemic,
advertising ROI
Charlotte area shoppers are expected to spend over $9.8 billion during this year's November-January holiday season. This estimate is based on a forecast issued last week by Deloitte, the world's largest business accounting firm. This spending represents a 1-1.5% increase versus the same period last year.
How can Charlotte small business owners best compete for a significant share of the 2020 holiday expenditures?
"Retailers who prioritize customers’ desires for a safe, efficient shopping journey will be the big winners this year," writes Sean Gundz on www.ChainstoreAge.com.
"The holiday season is always a stressful time for retailers, especially the ones that make the majority of their revenue in the short window between Thanksgiving and Christmas," says Mr. Gundz.
"Within this window is Black Friday, which, along with other big holiday sales events, are going to look a lot different this year. Retailers must accommodate COVID-19 mandates that enable social distancing, minimize surface touching, and actually restrict foot traffic in their facilities. All while trying to optimize sales."
Mr. Gundz says there is no single way to deal with the challenges facing retailers this holiday season. He does offer five tips, though, that every Charlotte retailer can employ.
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small business,
small business owner,
millennials,
small business marketing,
retail spending,
retail,
parent,
retail sales,
retail stores,
retailer,
millennial parents,
holiday advertising,
holiday shopping,
christmas
Charlotte area consumers are expected to spend $72 million on Halloween related activities in 2020, according to information from the National Retail Federation. This would be a slight 2.3% decrease from 2019. This is proof of the holiday's strong resistance to the pressures of a pandemic economy.
Based on data from the NRF's annual survey conducted by Prosper Insights & Analytics, more than 1.2 million Charlotte adults plan to participate in Halloween-related activities. Among those celebrants, safe at-home activities ranked highest: 53 percent plan to decorate their homes, 46 percent plan to carve a pumpkin, and 18 percent will dress up their pet.
“Consumers continue to place importance on celebrating our traditional holidays, even if by untraditional standards,” NRF President and CEO Matthew Shay said. “Retailers are prepared to meet the increased demand for seasonal décor, costumes, and other items that allow families the opportunity to observe Halloween safely.”
To earn a large share of Halloween spending in 2020, Charlotte small business owner will need to advertise to let consumers know their stores are open, stocked, and ready. By any metric, advertising on Charlotte radio is the best way to reach holiday shoppers.
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small business,
small business owner,
millennials,
small business marketing,
small business advertising,
retail spending,
retail,
parent,
children,
retail sales,
retail stores,
retailer,
millennial parents,
halloween,
working mothers,
holiday advertising
There are more than 1,700,000 vehicles registered in the Charlotte area. Many need new windshield wipers, shocks, struts, brakes, air filters, ignition coils, and the hundreds of other items that fill the shelves of local auto part dealers.
Despite the pandemic induced slowdown, business at auto parts stores has grown nearly 13% since February, according to the US Census Bureau.
This explosive growth in auto parts sales directly relates to the average age of cars on Charlotte's roads.
"Per the latest study from IHS Markit, the current combined average age of vehicles has hit a record of 11.9 years," Rimmi Singhi wrote this week on NASDAQ.com. "The aging vehicles are a boon to auto parts, replacement, and repair companies. In a bid to ensure long-term functioning of the aging vehicle population, customers are making investments to replace faulty vehicle parts and components."
Also contributing to the rapid aging of cars on the road is the current demand for used versus new vehicles. According to the Bureau of Economic Analysis, the personal consumption expenditures (PCE) for used cars is 25% higher in August than it was during the same month last year.
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best way to advertise,
radio advertising,
small business,
small business owner,
small business marketing,
small business advertising,
retail spending,
retail,
used vehicles,
automotive,
used cars,
used trucks,
retail sales,
retail stores,
retailer,
auto parts
Despite all of the media options available for small business owners to market their goods and services, advertising on Charlotte radio is still the best way to reach local consumers.
Adult consumers are spending 741 minutes per day consuming electronic media, according to a new study by Nielsen. This is 7.8% more time than they spent last year and 11.2% more than in 2018.
The typical daily media diet consists of radio, live TV, time-shifted TV, DVD/Blue-ray devices, game consoles, internet-connected devices, as well as internet via computers, smartphone apps, and tablet apps.
According to Nielsen, despite all of these media options, local radio reaches the most consumers every week.
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best way to advertise,
radio advertising,
small business,
small business owner,
roi,
reach,
return on investment,
small business marketing,
small business advertising,
retail spending,
retail,
reach & frequency,
retail sales,
retail stores,
retailer,
advertise on radio,
advertising reach,
effective advertising
There is good news for Charlotte retailers and restaurants.
As a result of the pandemic, one-third of consumers indicate they will pay a premium for local brands and products, according to a recent study by Ernst & Young
However, before consumers will buy from a local business in Matthews, Davidson, Rock Hill, or any town in-between, they must know they can do so without risking their health.
Advertising is the only practical way to let local shoppers and diners in the Charlotte area know about the precautions and practices your small business has taken to reduce potential health threats.
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best way to advertise,
small business,
small business owner,
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small business advertising,
retail spending,
retail,
restaurant,
retail sales,
retail stores,
retailer,
corona,
coronavirus,
covid 19
Based on projections from the National Retail Federation, Charlotte area parents are expected to spend $288 million to equip K-12 kids for the upcoming school year. If so, then this shopping spree will be 29% bigger than last year's and the biggest take since 2012.
“By any measure, this is an unprecedented year with great uncertainty, including how students will get their education this fall whether they are in kindergarten or college,” NRF President and CEO Matthew Shay says.
“Most parents don’t know whether their children will be sitting in a classroom or in front of a computer in the dining room, or a combination of the two. But they do know the value of an education and are navigating uncertainty and unknowns so that students are prepared."
Along with pencils, paper, pens, and knapsacks, the NRF survey says 63 percent of K-12 families expect to buy computers and other electronics this year, up from 54% last year, and they expect to spend more at an average $274.44, up from $203.44 last year. The $71 difference accounts for the largest share of the overall increase in average spending of almost $93.
Also, because many parents are unsure if learning will take place at school or at home, back-to-school spending this year is expected to include home furnishings such as desks, chairs, and lamps.
To claim a meaningful share of this year's booming back-to-school economy, local retailers will need to advertise to let parents know that their stores are open, it is safe to shop, and the needed supplies are in stock.
By any metric, the best way to reach these parents is on Charlotte radio.
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Topics
radio advertising,
small business,
small business owner,
millennials,
small business marketing,
small business advertising,
retail spending,
retail,
store traffic,
retail sales,
retail stores,
retailer,
advertise on radio,
back to school,
millennial parents
This year, according to Nielsen, 2.1 million Charlotte area consumers will spend $1.2 billion on eco-friendly goods and services. Sales for sustainable products have grown 20% since 2014, a trend expected to continue into 2021.
Tensie Whelan and Randi Kronthal-Sacco of the New York University Stern Center for Sustainable Business write in the Harvard Business Review, "Consumers are voting with their dollars against unsustainable brands. The legacy companies that will thrive are those that accept this shift and are willing to pivot.”
For Charlotte small business owners who are skeptical that sustainability affects purchase decisions, retail analyst Stacey Widlitz provided this advice, recently, in Forbes.
"Retailers only need to look to IBM's recent study, in association with the National Retail Federation, to understand just how fast consumer priorities are changing," says Ms. Widlitz. "Findings from the study revealed nearly 60% of consumers surveyed are willing to change their shopping habits to reduce environmental impact. For the nearly 80% of respondents who said sustainability is important to them over 70% would pay a premium of 35% on average."
To compete for a share of consumers' spending on green goods and services requires local small business owners to advertise.
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best way to advertise,
radio advertising,
small business,
small business owner,
millennials,
small business marketing,
small business advertising,
retail spending,
retail,
retail sales,
retail stores,
retailer,
advertise on radio,
sustainable,
green products,
eco-friendly
Before the onset of COVID-19, more than 420,00 Charlotte area households were planning to spend $794 million on furniture, according to Nielsen. Unfortunately, many of those plans were put on pause as consumers sheltered in place to help slow the spread of the virus.
A recent study by Elevate | SmithGeiger suggests that the fortunes of home furnishing retailers, however, are about to improve.
According to the study, 32% of consumers who had been planning to buy furniture will do so within three months of the pandemic easing. Fifty percent will do so within six months. The numbers for mattress shoppers are even stronger.
To capture a significant share of the post-pandemic sales of furniture and mattress will require retailers to advertise. The most effective way to reach the customers who are ready to buy is on Charlotte radio.
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best way to advertise,
radio advertising,
small business,
small business owner,
small business marketing,
small business advertising,
retail spending,
retail,
furniture,
retail sales,
retail stores,
retailer,
advertise on radio,
mattress
During lockdown, Charlotte consumers have been postponing the purchase of major appliances. Despite the pause in buying, however, local shoppers are still expected to spend $146 million this year on ovens, stoves, refrigerators, freezers, washing machines, dryers, and dishwashers.
Here's how appliance sales in the Charlotte area will breakdown by category:
- Cooking: $39,000,000
- Refrigerator/Freezer: $36,000,000
- Laundry: $30,000,000
- Other: $39,000,000
Based on traditional buying patterns, at least 60% of all major appliance sales will occur between now and December.
To capture a larger share of all this spending will require local appliance dealers to advertise.
“Think you have a great product?” asks the U.S. Small Business Administration. “Unfortunately, no one’s going to know about it unless you advertise.”
The SBA goes on to say, “Advertising, if done correctly, can do wonders for your product sales, and you know what that means: more revenue and more success for your business”.
By almost any measure, advertising on Charlotte radio is the best choice for local appliance store owners.
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best way to advertise,
consumer spending,
radio advertising,
small business,
small business owner,
roi,
return on investment,
retail spending,
retail,
retail sales,
retail stores,
retailer,
advertise on radio,
appliance store
Despite the pandemic, Charlotte area consumers are expected to spend $139 million on fine jewelry this year. Based on projections from IBISWorld, here's what will be purchased:
- $58 million worth of diamonds
- $20 million worth of watches
- $13 million worth of gold
- $16 million worth of pearls and gemstones
- $29 million in other goods and services
Charlotte area business owners will now have an easier time capturing a bigger share of jewelry expenditures as a monster competitive force disappears.
This week, Signet, the largest jewelry retailer in the country, announced that by December, it would be closing over 380 stores. Signet's brands familiar to North Carolina consumers include Kay, Jared, Zales, and Piercing Pagoda.
To successfully compete for the void created by fewer Signet stores, local retailers will need to advertise, especially between now and the end of the year. This is when 63% of all fine-jewelry sales traditionally occur.
By any metric, the best way to reach local jewelry buyers is by advertising on Charlotte radio.
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best way to advertise,
consumer spending,
radio advertising,
small business,
small business owner,
retail spending,
retail,
retail sales,
retail stores,
retailer,
advertise on radio,
bridal,
wedding,
jewelry store