During lockdown, Tampa Bay consumers have been postponing the purchase of major appliances.  Despite the pause in buying, however, local shoppers are still expected to spend $174 million this year on ovens, stoves, refrigerators, freezers, washing machines, dryers, and dishwashers.

Here's how appliance sales in the Tampa area will breakdown by category:

• Cooking: $47,400,000
• Refrigerator/Freezer: $43,900,000
• Laundry: $36,100,000
• Other: $47,000,000

Based on traditional buying patterns, at least 60% of all major appliance sales will occur between now and December.

To capture a larger share of all this spending will require local appliance dealers to advertise.

“Think you have a great product?” asks the U.S. Small Business Administration. “Unfortunately, no one’s going to know about it unless you advertise.”

The SBA goes on to say, “Advertising, if done correctly, can do wonders for your product sales, and you know what that means: more revenue and more success for your business”. 

By almost any measure, advertising on Tampa radio is the best choice for local appliance store owners.

Despite the pandemic, Tampa Bay consumers are expected to spend $164 million on fine jewelry this year. Based on projections from IBISWorld, here's what will be purchased:

• $69 million worth of diamonds
• $24 million worth of watches
• $16 million worth of gold
• $19 million worth of pearls and gemstones
• $34 million in other goods and services

Tampa business owners will now have an easier time capturing a bigger share of jewelry expenditures as a monster competitive force disappears.

This week, Signet, the largest jewelry retailer in the country, announced that by December, it would be closing over 380 stores.  Signet's brands familiar to Central Florida consumers include Kay, Jared, Zales, and Piercing Pagoda.

To successfully compete for the void created by fewer Signet stores, local retailers will need to advertise, especially between now and the end of the year. This is when 63% of all fine-jewelry sales traditionally occur.

By any metric, the best way to reach local jewelry buyers is by advertising on Tampa radio.

At the dawn of 2020, Tampa Bay small business owners were expecting the area's retail economy to expand by 4.1%. This optimism was stoked by the National Retail Federation's chief economist who said, "Consumers remain upbeat and have the confidence to spend, and the steady wage growth that has come with the strong job market is fueling their spending. The state of the consumer is very healthy."

By February, however, the country entered into a COVID-19 induced recession. Then, to slow the spread of the pandemic, on April 3, the Governor of Florida locked the state down. This brought the Tampa area's $54.1 billion retail economy to a standstill.

As stores, restaurants, and offices in Tampa Bay begin to re-open, consumers' appetite for spending is returning. According to Nielsen, loyal radio listeners are very likely to be first in line at the cash registers.

More than 93% of Tampa Bay households own at least one vehicle. 

Pre-pandemic, 86% of workers spent, on average, 60 minutes every weekday in these cars commuting to-and-from their jobs.  

On their way to work, many of these drivers would contribute to Tampa Bay's $59.3 billion retail economy by visiting the convenience stores, coffeehouses, auto repair centers, gas stations, daycares, grocery stores, or hundreds of other businesses they passed.

At lunchtime, these same cars would take their owners to restaurants, dentist appointments, nail appointments, barbershops, and on an infinite number of other errands.

On the weekends, these vehicles filled the parking lots of hardware stores, furniture stores, car dealers, appliance stores, bowling alleys, movie theatres, and nightclubs, 

Then on April, when the Governor of Florida shut down the state to slow the spread of COVID-19, traffic came to a standstill and so did the spending.

There are strong indications, though, that in the Tampa area, roads are filling up again.

Since the onset of the Coronavirus crisis, consumers are not flocking into the showrooms, storefronts, offices, or dining rooms of Tampa Bay small business owners. It turns out, though, social distancing has not proven to be an impediment to shopping.

Florida consumers are still spending money despite the chaos imposed by the pandemic, according to Gordon Borrell, CEO of Borrell & Associates. His company specializes in the collection of marketing data from business owners across the country.

"During depressions, recessions, floods, hurricane, earthquakes, fires, and, now, pandemics, commerce goes on," Mr. Borrell told members of Tampa's small business community during a recent teleconference.

To prove his point, he shared research from IBISworld  which, indicates spending continues despite a plunge in consumer confidence.

There are 1.5 million consumers in Tampa Bay who own their own home. 

According to Zillow, more than 60% of homeowners carry a mortgage. A record number of owners are considering refinancing  now, which means millions of dollars in fees for local lenders and brokers are up for grabs.

Why the sudden urgency for Tampa Bay consumers to refinance their mortgages?

According to The Federal Home Loan Mortgage Corporation (aka, Freddie Mac), "The average 30-year fixed-rate mortgage hit a record 3.29% this week, the lowest level in its nearly 50-year history."

"Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy."

If a consumer Googles 'refinance my mortgage in Tampa Bay', more than 6.2 million results come back, So, to set themselves apart, lenders and brokers will need to advertise.  By, any key metric, advertising on Tampa radio is the best way to reach area homeowners.

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.

Retailers in Tampa Bay rang-up $59,380,749,000 in retail sales last year, according to Nielsen. But wait. It's about to get better.

The National Retail Federation forecasts that in 2020, sales will increase by as much as 4.1%. This will create another $2.4 billion for local small business owners.  

“The economy is growing at a more modest pace, but the underlying economic fundamentals remain in place and are positive,” stated NRF chief economist Jack Kleinhenz. “Consumers remain upbeat and have the confidence to spend, and the steady wage growth that has come with the strong job market is fueling their spending. The state of the consumer is very healthy.

To claim a fair share of this enlarged pool of spending will require Tampa Bay small business owners to advertise.

“Think you have a great product?” asks the U.S. Small Business Administration. “Unfortunately, no one’s going to know about it unless you advertise.”  

There is alarming news for small business owners who advertise on Tampa television stations: broadcast TV viewers are disappearing at an alarming rate.

Nielsen reports that halfway through the first quarter of this year, the number of people using television has dropped 7.5%. This compares to -6.3% in the fourth quarter of 2019, and -7.0% a year ago,

"If the trend holds, it would represent the largest quarterly decline for TV viewership in our data set," explains UBS analyst John C. Hodulikadding. "Trends have worsened across most age demos with persons 25-34 now falling -17% vs. low double-digit declines throughout 2019. The persons 55+ demo continues to trend down -2%, similar to 2019 (the first year of declining ratings for the demo)."

Radio listenership, on the other hand, has remained quite stable, according to Nielsen. Since 1970, the medium has reached more than 9-in-10 consumers every week.

As Valentine's Day sales begin to dwindle, that's when Tampa Bay small business owners start thinking about Mom.

Mother's Day, which happens on the second Sunday of May, is second only to Christmas in terms of holiday spending. Last year, Tampa Bay consumers spent more than $253-million celebrating the women in their lives. That number is expected to grow again in 2020.

To claim a significant share of this Mother's Day cash, local retailers and restaurants will need to advertise.  By almost every key metric, advertising on Tampa radio is the best choice.