Advertise In Detroit Advertise In Detroit

 

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.

Read More

0 Comments Click here to read/write comments

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

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

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.

Read More

0 Comments Click here to read/write comments

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.

Read More

1 Comment Click here to read/write comments

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

Why Detroit Kitchen & Bath Remodelers Need To Advertise Now

May 19, 2021 8:04:55 AM / by Larry Julius

In 2021, according to Nielsen, 200,436 Detroit area homeowners are expected to spend $2.1 billion on kitchen and bathroom remodeling. This would be an increase of 16.8% increase over last year. Sales estimates are based on data from The National Kitchen & Bath Association (NKBA).

Because of the ongoing pandemic, 2.5 million Southeast Michigan homeowners are in the process of reassessing their living spaces.

According to the NKBA, homeowners cite the kitchen and bath areas as two times more important than other spaces within the home, and the kitchen particularly gained status throughout the COVID-19 pandemic, with 70% of homeowners considering it extremely important compared to 64% before the crisis.

“After such a strong year for home remodeling in 2020, some wondered if we were approaching a home improvement spending ‘cliff.’ We’re pleased to say that’s not what the kitchen and bath market is expecting in 2021,” said Bill Darcy, NKBA CEO.

“Last year, homeowners started the work of improving their living spaces with DIY projects. And this year, with early distribution of the vaccine and other measures to reduce the public health impact of the virus, we expect to see continued renovations and more projects requiring our members.”

Read More

0 Comments Click here to read/write comments

Topics radio advertising, best way to advertise, consumer spending, home values, home owners, home improvement, remodeling, contractors, construction, homeowners

Grab A Larger Share Of Detroit's Accelerating Retail Spending

Mar 4, 2021 12:53:20 PM / by Larry Julius

Southeast Michigan consumers are expected to spend upward of $58.8-billion at retail in 2021. This would be, at minimum, a 6.5% jump over 2020. The forecast is based on newly released estimates by the National Retail Federation.

“Despite the continuing health and economic challenges COVID-19 presents, we are very optimistic that healthy consumer fundamentals, pent-up demand and widespread distribution of the vaccine will generate increased economic growth, retail sales and consumer spending,” NRF President and CEO Matthew Shay said.

“From the outset of the pandemic, retailers have gone above and beyond even the most conservative safety guidelines to protect and serve their associates and consumers alike."

To capture the largest possible share of spending growth, local retailers will need to advertise. By the most crucial marketing metrics, the best best way to reach consumers is by advertising on Detroit radio.

Read More

0 Comments Click here to read/write comments

Topics small business, small business owner, radio advertising, consumer spending, retail, return on investment, retailer, retail sales, retail store, web traffic, website visitor, small business marketing, small business advertising, online shopping, 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

Receive Great Advertising Advice Direct To Your Inbox...

New call-to-action

Recent Posts

Our Social Media