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

Advertise In Detroit: In-Store Shopping Exceeds Pre-COVID Level

Oct 19, 2021 5:04:29 PM / by Larry Julius

Southeast Michigan consumers are on track to spend more than $63 billion at retail this year, based on projections by the National Retail Federation (NRF). Spending is expected to be 13.5% higher than last year.  

Some Detroit small business owners, though, are wondering if the spread of the Delta Variant may slow spending if consumers sense pressure on their own financial security. Shoppers, however, don't see it that way.

New research from Nielsen indicates that 82% of consumers believe their household finances will either remain the same or improve during the upcoming months.

The Nielsen study has another finding that Detroit business owners will find promising. Consumers are more likely to shop locally than they did before the onset of the pandemic, although in different ways.

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Topics best way to advertise, consumer spending, retail, return on investment, ROI, retailer, retail sales, retail store, retail spending, advertising return on investment, shopping

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