Now is a crucial time for Charlotte small business owners to advertise.  

According to the Conference Board, consumer confidence has surged to 110, the highest it has been since the onset of the pandemic last March.  The index has bounced back from a low of 89.6 in February. 

Moving forward, North and South Carolina business owners can expect buyer optimism to remind high.

“The recovery in consumer confidence is set to continue in the coming months, buoyed by the combination of improving health conditions and wider vaccine distribution,” said Lydia Boussour, lead U.S. economist at Oxford Economics. “This should support hearty consumer spending and pave the way for a mini-boom in economic activity this spring and summer.”

As Charlotte consumers gain confidence, they are expected to unleash the record $11.1-billion in personal savings amassed during the pandemic. This number is based on figures reported by Barron's in November. 

This combination of consumer confidence and the cache of cash-on-hand has led the National Retail Federation (NRF) to forecast a 7% increase in retail spending in 2021 versus last year.

To claim a significant share of the expected spending tsunami, Charlotte business owners plan to boost advertising investments this year.

According to Borrell Associates, a company that tracks advertising trends across the country, Charlotte business owners are expected to spend $1-billion to advertise the goods and services they sell. This represents a 7.9% increase versus last year.

Charlotte small business owners are learning that 're-opening' may not be an appropriate word for the challenges they face as the Coronavirus crisis winds down.  A better term might be 're-introducing'.

Since the Governor of North Carolina shuttered the state on March 30, to slow the spread of COVID-19, Charlotte area consumers have discovered new ways to buy the goods and services they need.  It's now the burden of local business owners to lure these customers back. The first step is re-introduction.

On March 18, 1922, WBT signed-on as the first radio station serving Charlotte, North Carolina. Since then, local business owners have used radio advertising to introduce themselves successfully to new customers. Radio has also helped these businesses survive recessions, depressions, world wars, hurricanes, and floods. By any metric, advertising on Charlotte radio remains the most effective tactic a small business owner can use post-pandemic, as well.