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Advertise In Detroit: Retailers Expect Record Father's Day Spend

Jun 2, 2023 2:06:47 PM / by Larry Julius

Father's Day, this year, is June, 18. To celebrate the dads in their lives, 2.9 million Detroit area consumers are expected to spend a record $394.8 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: $134.4 million
  • Clothing: $60.3 million
  • Gift Cards: $48.2 million
  • Electronics:  $44.8 million
  • Personal Care: $29.1 million

The remainder of the retail dollars Detroit consumers spend will be for tools/appliances, sporting goods, greeting cards, and books/CDs.

The challenge for Detroit 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 Detroit consumers of the benefits of buying from local retailers.  By almost every marketing metric, the best way to advertise is on Detroit radio.

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Topics best way to advertise, retail, return on investment, ROI, retailer, retail sales, retail store, holiday advertising, holiday shopping, retail spending, advertising return on investment, advertising roi, father, father's day

Detroit Small Business Owners Expect Record Easter Spending

Mar 27, 2023 3:54:12 PM / by Larry Julius

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.

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Topics small business, small business owner, retail, retailer, retail sales, retail store, small business marketing, small business advertising, holiday advertising, holiday shopping, retail spending

Holiday Spending In Detroit Will Top $13.0 Billion In 2022

Nov 10, 2022 2:57:10 PM / by Larry Julius

Economic concerns among Southeast Michigan area consumers are not expected to subdue holiday shopping in in 2022.  Based on forecasts from The National Retail Federation, local shoppers are projected to spend at least $13.0 billion this year. This would be 6% more than was spent in 2021.

“While consumers are feeling the pressure of inflation and higher prices, and while there is continued stratification with consumer spending and behavior among households at different income levels, consumers remain resilient and continue to engage in commerce,” NRF President and CEO Matthew Shay said. “In the face of these challenges, many households will supplement spending with savings and credit to provide a cushion and result in a positive holiday season.”

The biggest challenge facing Detroit business owners is keeping holiday spending local. NRF expects 10-12% of purchases to happen online from retailers like Amazon and Walmart.

To lay claim to this expanding pool of holiday spending,  and keep business local, small business owners will need advertising. By, most marketing metrics, the best way to advertise is on Detroit radio.

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Topics radio advertising, consumer spending, return on investment, ROI, radio advetising, advertise on radio, advertising reach, detroit radio, holiday advertising, christmas, holiday shopping, advertising return on investment, advertising roi

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.

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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

Mother's Day Spending In Detroit Will Top $438 Million In 2022

Apr 21, 2022 6:06:13 PM / by Larry Julius

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), Southeast Michigan consumers are expected to spend $438 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 Detroit consumers will spend $96.4 million on jewelry and another $72.9 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 Detroit 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, Detroit 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 Detroit radio.

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Topics best way to advertise, reach, mother's day, reach and frequency, retail, return on investment, retailer, retail sales, retail store, advertising reach, holiday advertising, holiday shopping, retail spending, advertising return on investment

Best Way To Reach Detroit's Holiday Shoppers In 2021

Oct 26, 2021 1:54:27 PM / by Larry Julius

Attention Southeast Michigan 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, Detroit consumers are expected to spend between $17.7 and $18.1 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."

Detroit retailers are noticing that the opening bell for holiday shopping has rung earlier than ever for local shoppers.

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Topics small business, small business owner, consumer spending, retail, return on investment, ROI, retailer, retail sales, retail store, parents, children, small business marketing, small business advertising, millennial parents, holiday advertising, christmas, holiday shopping, online shopping, retail spending, advertising return on investment, shopping, advertising roi

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."

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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

How Detroit Small Business Owners Can Boost 2020 Holiday Sales

Sep 25, 2020 2:44:19 PM / by Larry Julius

Southeast Michigan shoppers are expected to spend over $15.9 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 Metro Detroit 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 Detroit retailer can employ.

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Topics small business, small business owner, radio advertising, retail, retailer, retail sales, retail store, small business marketing, small business advertising, holiday advertising, christmas, holiday shopping

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