Tampa Bay consumers spent more than $59 billion with retailers last year. The National Retail Federation forecasts 4.1% more will be spent this year.
Who are the shoppers that will be spending all this money?
According to Nielsen, 53.3% of retail dollars are spent by Tampa area consumers over the age of 50. This may surprise many small business owners because older consumers comprise only 43% of the area's adult population.
These older consumers account for the majority of spending in almost every retail category. This includes furniture, cars, pet supplies, fast food, and electronics.
To earn a share of these massive dollars spent by these older consumers requires Tampa Bay small business owners to advertise.