More than 2.8 million Southeast Michigan area consumers are expected to celebrate Easter in 2023, according to per capita forecasts from The National Retail Federation. In all, the NRF predicts $414 million will be spent this year.

Not only will spending on Easter in Detroit top last year's take by 16%, but it will also blow past the spending record of $374 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 Detroit consumers are expected to spend their Easter Holiday cash:

• Food: $125.8 million
• Clothing: $68.9 million
• Candy: $65.1 million
• Gifts: $56.8 million
• Flowers: $31.0 million
• Decorations: $30.1 million
• Greeting Cards: $17.2 million
• Other: $15.5 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 Detroit 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 Detroit is on local radio.

Every week, according to Nielsen, Detroit radio reaches 2,804,826 adults. This is more consumers than use any other medium, including local TV, local cable, streaming video, social media, online audio, and newspapers.

Reach, though, is only one component used to calculate ratings.  The other metric that contributes to the rating formula is the time spent using each medium. So, although for the past 10 years, AM/FM radio's reach has been significantly higher than the reach of local TV, consumers spent considerably more time watching TV. As a result of the math, TV has enjoyed higher ratings than radio.

For the first time, however, AM/FM radio ratings have exceeded local TV ratings by three percent among the key advertising demographic of 18-49-year-olds, according to Nielsen's Total Audience Data for the third quarter of 2023.

In the Detroit area, there are 1,741,591 18-49-year-olds, the majority of whom are millennials, a generation that now accounts for nearly one-third of all retail spending.

Detroit radio reaches more local consumers each week than any other advertising medium.

According to Nielsen, 2,804,826 adults tune in to their favorite AM/FM stations every week.  This is significantly more consumers than are reached by Detroit TV, cable, streaming video, streaming audio, social media, or newspapers.

AM/FM radio's dominance among local consumers is driven, in large part, by the 3.2 million Detroit area adults who take to the road in their car or truck every week, according to Neilsen.

Over the next 12 months, according to Nielsen, 607,846 Detroit area households plan to buy furniture and mattresses. Based on a per capita forecast from Furniture Today, these expenditures will total $1.73 billion during 2023, a $31.6 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 Detroit radio.

Southeast Michigan area construction companies will need to recruit 7,522 more workers in 2023 in addition to the normal pace of hiring. This forecast is a per capita estimate based on research from Associated Builders and Contractors (ABC).  

The frenetic pace of recruiting construction workers in Detroit is expected to extend into 2024, with an incremental 4,463 workers needed next year, as well, in addition to the normal pace of hiring.

Overall, the demand for construction workers in America has been increasing at an epic rate.

According to ABC, the construction industry averaged more than 390,000 job openings per month in 2022, the highest level on record, and the industry unemployment rate of 4.6% in 2022 was the second lowest on record, higher than only the 4.5% unemployment rate observed in 2019. In addition, national payroll construction employment was 231,000 higher in December 2022 than in December 2021.

Right now, filling open jobs at any Detroit company is a struggle.

A recent survey by the National Federation of Independent Business Owners found that after inflation, the most critical problem facing these businesses is the inability to recruit and retain quality employees.

Right now, says the Federal Reserve,  unfilled jobs remain near an all-time with 1.7 openings per unemployed person.  As a result, only one person is being hired per every four job openings.  To put this dismal hire-to-opening ratio in perspective, ten years ago, there was one hire per every job opening.

Compounding the recruitment woes of Detroit's small business owners is the very stubborn quit rate.  According to the Federal Reserve, for every ten hires made, seven current employees quit. 

So, how can local builders and contractors fill the open jobs at their companies? Most metrics indicate that advertising on Detroit Radio may be the best way.

Southeast Michigan business owners should brace for a sweet Valentine's Day in 2023.

Based on per capita spending forecasts from the National Retail Federation (NRF), Detroit area consumers are expected to spend $356.7 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."

158,401 Southeast Michigan companies fit the description of being a small business, according to the US Census Bureau.  A recent survey by the National Federation of Independent Business Owners found that after inflation, the most critical problem facing these businesses is the inability to recruit and retain quality employees.

Right now, says the Federal Reserve,  unfilled jobs remain near an all-time with 1.7 openings per unemployed person.  As a result, only one person is being hired per every four job openings.  To put this dismal hire-to-opening ratio in perspective, ten years ago, there was one hire per every job opening.

Compounding the recruitment woes of Detroit's small business owners is the very stubborn quit rate.  According to the Federal Reserve, for every ten hires made, seven current employees quit. 

Although the labor crunch affects Detroit business owners of every size, nearly half of all job vacancies are at companies with fewer than 50 employees.

So what is the best way for local small business owners to attract qualified candidates to fill open jobs?  Most metrics indicate that advertising on Detroit radio may be the optimal choice.

The combined weekly reach of Detroit's broadcast television stations has slipped to 73.2% of all adults, according to Nielsen. These stations include WJBK, WDIV, WXYZ, WWJ, and WTVS.  

The combined Detroit TV audience now falls just ahead of cable programming at 72.7% and streaming platforms at 62.3%. To put this into perspective, none of the three video media is a match for Detroit radio which reaches more than 79.4% of local adults every week.

But although the reach of broadcast TV, cable, and streaming are neck-and-neck, the share of time consumers spend with each of these media is dramatically different.

Detroit area business owners have an abundance of options for marketing their goods and services to local consumers. New research from Nielsen, however, indicates that advertising on Detroit radio is still the best way to reach local shoppers.

Every week, according to Nielsen, Detroit radio reaches 2.8 million adults. This is significantly more than are reached by social media, local TV stations and cable systems, newspapers, streaming video and audio, and podcasts.

In addition to listening to their favorite Detroit radio stations over the air, Nielsen reports that 701,141 adults also listen to local stations online every month.

As a matter of fact, according to a study conducted by Edison Research during the third quarter of 2022, among Adults 25-54, 17% of all time spent listening to local AM/FM stations occurs online. This share of online listening has nearly doubled since 2016.