Advertise In Detroit Advertise In Detroit

 

Detroit Consumers Still Spending Despite Economic Sentiment

Aug 8, 2022 9:43:15 AM / by Larry Julius

Local consumers may have a gloomy feeling about economic conditions, but their spending has not tapered. This is good news for the 158,041 small business owners in the Detroit area.

According to the latest University of Michigan's Survey of Consumers, sentiment about current economic conditions remains near the all-time low. Concerns about volatile gas prices, rampant inflation, and a looming recession have driven the survey's index down 37% versus a year ago.

Despite these dim consumer sentiments, the U.S. Bureau of Economic Analysis's July report shows that real personal consumption expenditures are pacing well above pre-Covid levels. According to Morgan Stanley research, consumers' ability to spend is being driven, in part, by a massive amount of excess savings accumulated over the course of the pandemic.

Earlier this year, based on per capita spending data from the National Retail Federation (NRF). Detroit consumers were forecast to spend nearly $67.6 billion at retail this year. The current level of spending suggests that shoppers are on track to hit that number.

Of course, for local business owners to successfully compete for a share of this record spending requires marketing. By most key marketing metrics, the best way to advertise is on Detroit radio. This is especially true among business owners who must limit the number of marketing channels that can be used because of economic restraints.

Of all media, advertising on the radio provides the greatest return on investment.

Read More

0 Comments Click here to read/write comments

Topics radio advertising, best way to advertise, reach, consumer spending, reach and frequency, ROI, radio advetising, recession, advertising reach, advertise on detroit radio, consumer confidence, advertising roi, inflation

Father's Day 2022: Detroit Consumers Will Spend $276 Million

May 31, 2022 1:53:12 PM / by Larry Julius

Father's Day this year is on Sunday, June 19. Based on projections from the National Retail Federation (NRF), Southeast Michigan shoppers are expected to spend $276.5 million on the dads in their life. This is on par with the record-breaking $277.7 million spent in 2021.

“Despite growing concerns about inflation, consumers plan to spend approximately the same amount as last year in celebration of Father’s Day,” NRF President and CEO Matthew Shay said. “Spending patterns also reflect the sentimental nature of the holiday as consumers are prioritizing unique and meaningful gifts.”

The NRF projects that nearly 60%, of all Father's Day purchases in Detroit, will be for special outings, clothing, gift cards, and electronics. Although most category spending will be down slightly from last year, the amount of money spent on special outings such as dinner is expected to increase by over 8%.

Here is how this large pool of Father's Day cash in Detroit is expected to be distributed in all retail categories.

Read More

0 Comments Click here to read/write comments

Topics small business, small business owner, best way to advertise, consumer spending, advertising options, small business marketing, small business advertising, holiday advertising, holiday shopping, consumer confidence, father, father's day

Detroit Radio Listeners Lead The Return To 'Normal'

Apr 28, 2022 10:43:11 AM / by Larry Julius

Each week according to Nielsen, 2.8 million consumers tune in to a Detroit 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 Detroit radio listeners have in common. First, they are very loyal to their favorites, tuning-in to, on average, only 2.7 different stations each week.

Second, and of particular importance to Southeast Michigan 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.

Read More

0 Comments Click here to read/write comments

Topics small business, small business owner, radio advertising, best way to advertise, consumer spending, retail, retailer, retail sales, retail store, small business marketing, small business advertising, consumer confidence, retail spending

Advertising In Detroit: Still Time To Ring Up Holiday Sales

Dec 1, 2020 1:43:32 PM / by Larry Julius

There is cheerful news for small business owners from Taylor to Troy 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, Southeast Michigan shoppers will be spending between $10.4 and $10.5 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."

Read More

0 Comments Click here to read/write comments

Topics television, small business, small business owner, television advertising, consumer spending, retail, return on investment, ROI, retailer, retail sales, retail store, small business marketing, small business advertising, holiday advertising, christmas, holiday shopping, consumer confidence

Small Business Advertising In Detroit: Consumers Ready To Spend

Nov 13, 2020 7:12:04 AM / by Larry Julius

There is positive news for the 158,000 small businesses in the Detroit-Warren-Dearborn, MI Metro Area 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 Southeast Michigan 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 Detroit radio is the best advertising option.

Read More

0 Comments Click here to read/write comments

Topics small business, small business owner, radio advertising, consumer spending, retail, return on investment, ROI, retailer, retail sales, retail store, small business marketing, small business advertising, advertising on radio, consumer confidence

Advertising On Detroit Radio Is Back In The Driver's Seat

Oct 28, 2020 7:38:28 AM / by Larry Julius

There are more than 2,900,000 car radios in Southeast Michigan. On March 23, though, many of these devices became quarantined along with their owners. That was the day when the Governor of Michigan shut down the state to slow the spread of COVID-19.

According to the Apple Mobility Index, the Governor's public-safety order caused traffic on Metro Detroit roadways to plummet to 40% of pre-pandemic levels.

By the beginning of July, however,  the AMI indicates that traffic in Detroit began to exceed pre-Covid levels. The surge in mobility is due, in part, to work-from-home, furloughed, and laid-off employees returning to their workplaces.

According to Nielsen, during the week of April 30, only 39% of adults with jobs were working outside-the-home.  During the week of October 1, though, that number had expanded to 61%.

Read More

0 Comments Click here to read/write comments

Topics small business, small business owner, consumer spending, vehicle repair, in-car audio, vehicle traffic, small business advertising, radio listening, used vehicles, consumer confidence, share of ear, point of purchase

Metro Detroit Retail Sales Are Growing. Is It Time To Advertise?

Oct 19, 2020 4:30:14 PM / by Larry Julius

Now would be a good time for Southeast Michigan small business owners to consider increasing their advertising expenditures.

There are just over 158,000 small businesses in the Detroit-Warren-Dearborn, MI Metro Area 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 32.7% 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.

Read More

0 Comments Click here to read/write comments

Topics small business, millennials, small business owner, consumer spending, retail, return on investment, ROI, retailer, retail sales, retail store, small business marketing, small business advertising, millennial parents, consumer confidence, purchase intent

Receive Great Advertising Advice Direct To Your Inbox...

New call-to-action

Recent Posts

Our Social Media