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Valentine's Spending In Charlotte Expected To Grow 8.4% in 2023

Jan 25, 2023 3:45:34 PM / by Larry Julius

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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Topics 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

How To Reach Valentine's Day Shoppers in Charlotte

Dec 18, 2019 2:32:13 PM / by Larry Julius

For Charlotte area business owners who depend on Valentine's Day to spike first-quarter sales, this year could be a battle as the decline in celebrants is expected to continue.

Based on estimates from the National Retail Federation, 1.3 million Charlotte consumers will be participating in the holiday this year. This is 20% fewer than ten years ago.

There is good news, however, for Charlotte  area business owners. Although there are will be fewer customers, local Valentine's Day spending is expected to grow to $215-million. This is 28% higher than a decade ago.

So, how does a local retailer or restaurant win the battle for the hearts and wallets of romantic consumers?  Advertising is a necessary weapon to win this war.

No weapon is as potent as advertising on Charlotte radio.

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Topics best way to advertise, consumer spending, radio advertising, social media advertising, instagram, small business, small business owner, valentine's day, television advertising, newspaper advertising, facebook

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