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Small Business Advertising In Tampa Bay: Target The Cash

Mar 3, 2020 9:24:48 AM / by Larry Julius

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.

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Topics small business, small business owner, Television Advertising, store traffic, best way to advertise, radio advertising, retail stores, social media advertising, newspaper advertising, consumer spending, baby boomers, Retail Sales, Retailer

Retail Boom: How Your Tampa Bay Small Business Can Benefit

Feb 28, 2020 7:25:22 AM / by Larry Julius

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.”  

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Topics small business, small business owner, Television Advertising, millennials, Spotify, pandora, store traffic, best way to advertise, reach, radio advertising, facebook, newspaper advertising, consumer spending, Retail Sales, Retailer

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