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What Tampa Bay Consumers Need To Know Now About Your Small Business

Aug 12, 2020 8:55:38 AM / by Larry Julius

There is good news for Tampa Bay retailers and restaurants.

As a result of the pandemic, one-third of consumers indicate they will pay a premium for local brands and products, according to a recent study by Ernst & Young

However, before consumers will buy from a local business in Lakeland, Clearwater, Spring Hill, or any town in-between, they must know they can do so without risking their health.

Advertising is the only practical way to let Tampa Bay shoppers and diners know about the precautions and practices your small business has taken to reduce potential health threats.

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Topics small business, small business owner, store traffic, best way to advertise, tampa small business owners, retail stores, effective radio commercials, small business advertising, effective advertising, Retail Sales, Retailer, retail, corona, coronavirus, covid19, recovery, small business marketing

Tampa Bay Retailers Prepare For $344 Million Back-To-School Season

Jul 23, 2020 7:49:11 AM / by Larry Julius

Based on projections from the National Retail Federation, Tampa Bay parents are expected to spend $344 million to equip K-12 kids for the upcoming school year. If so, then this shopping spree will be 29% bigger than last year's and the biggest take since 2012.

“By any measure, this is an unprecedented year with great uncertainty, including how students will get their education this fall whether they are in kindergarten or college,” NRF President and CEO Matthew Shay says.

“Most parents don’t know whether their children will be sitting in a classroom or in front of a computer in the dining room, or a combination of the two. But they do know the value of an education and are navigating uncertainty and unknowns so that students are prepared."

Along with pencils, paper, pens, and knapsacks, the NRF survey says 63 percent of K-12 families expect to buy computers and other electronics this year, up from 54% last year, and they expect to spend more at an average $274.44, up from $203.44 last year. The $71 difference accounts for the largest share of the overall increase in average spending of almost $93.

Also, because many parents are unsure if learning will take place at school or at home, back-to-school spending this year is expected to include home furnishings such as desks, chairs, and lamps.

To claim a meaningful share of this year's booming back-to-school economy, local retailers will need to advertise to let parents know that their stores are open, it is safe to shop, and the needed supplies are in stock.

By any metric, the best way to reach these parents is on Tampa radio.

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Topics millennials, store traffic, radio advertising, retail stores, back-to-school-advertising, millennial parents, Retail Sales, Retailer, retail, advertise on radio

Tampa Bay Furniture Retailers Expect A Post-Pandemic Rebound

Jul 10, 2020 6:06:40 AM / by Larry Julius

Before the onset of COVID-19, more than 430,000 Tampa Bay households were planning to spend $859 million on furniture, according to Nielsen. Unfortunately, many of those plans were put on pause as consumers sheltered in place to help slow the spread of the virus.

A recent study by Elevate | SmithGeiger suggests that the fortunes of home furnishing retailers, however, are about to improve.

According to the study, 32% of consumers who had been planning to buy furniture will do so within three months of the pandemic easing. Fifty percent will do so within six months. The numbers for mattress shoppers are even stronger.

To capture a significant share of the post-pandemic sales of furniture and mattress will require retailers to advertise. The most effective way to reach the customers who are ready to buy is on Tampa radio.

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Topics small business, small business owner, store traffic, best way to advertise, radio advertising, retail stores, small business advertising, furniture, mattress, Retail Sales, Retailer, retail, advertise on radio

Who'll Be Buying As Tampa Bay Small Businesses Reopen?

May 19, 2020 7:16:00 AM / by Sample HubSpot User

To slow the spread of COVID-19, the Governor of Florida shut down all but the most essential businesses in the state on April 3. This public safety measure inflicted a severe disruption to Tampa Bay's $54.1 billion retail economy.

As local small business owners begin to reopen, each must concentrate on supercharging their cash flows to compensate for weeks of consumer abstinence. Turning the lights back on and hanging out a welcome sign might not be enough, though, to bring even the most loyal customers back.

Some customers may not return because of personal safety concerns. Other customers may have discovered alternative sources to purchase goods and services.

But, there is one thing every Tampa Bay small business owner can be assured of. Consumers will not return if they aren't aware that a business has reopened.

Advertising is a potent tactic for any Florida small business that needs to reintroduce itself to local consumers.

“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, store traffic, best way to advertise, radio advertising, retail stores, recession, Retail Sales, Retailer, retail, corona, coronavirus, covid19, crisis marketing, reopening

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

Market To Baby Boomers In Tampa Bay

Nov 2, 2019 11:38:50 AM / by Larry Julius

The first Baby Boomers were born in Tampa Bay during 1946, and they kept coming until 1964.  Today, this generation represents 21.8% of the population.

According to Visa, however, when it comes to the ability to buy goods and services from local business owners, people 50 and older are responsible for 56% of all retail spending.  In Tampa Bay, that equates to $33-billion.

Forecasts from the Bureau of Labor Statistics indicate the spending power of the Baby Boomer generation will remain dominant through at least 2025. This is fueled, in part, by the Boomers' continued participation in the labor force.

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Topics store traffic, best way to advertise, radio advertising, retail stores, advertise in tampa bay, advertising in Tampa, consumer spending, baby boomers

Where Will Tampa Bay Consumers Shop For The Holidays?

Oct 25, 2019 4:17:05 PM / by Larry Julius

Tampa Bay shoppers are expected to spend $7.3 billion this holiday season.  This will be approximately 4% higher than last year. These estimates are based on forecasts by the National Retail Federation and Deloitte.

To claim a fair share of the Christmas cash, local small business owners will need to battle some giant competitors. Advertising on Tampa radio stations may be the perfect weapon to ensure success.

According to information published in the retail trade magazine Chain Store Age, as of right now, here is where consumers are planning to shop...

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Topics small business owner, store traffic, best way to advertise, tampa radio, retail stores, advertise on tampa radio, advertise in tampa bay, holiday shopping, consumer spending

Tampa Bay Small Business Owners Cash In On Halloween Shopping

Sep 20, 2019 8:03:00 AM / by Larry Julius

Based on information from the National Retail Foundation, Tampa Bay consumers will be spending $79 million on Halloween this year. 

Typically, 80% of all Halloween shopping, according to the NRF, will occur between now and October 16.  The remaining dollars will be spent in the last 14 days leading up to the holiday.

Nearly 53% of consumers in Tampa Bay are expected to participate in Halloween this year, each spending, on average, about $86.  This money will go towards the purchase of candy, decorations, costumes, pumpkins, and greeting cards.

Almost every type of small business in Tampa Bay enjoys a taste of this spending. This includes hardware stores, convenience stores, craft stores, fabric stores, thrift stores, florists, card stores, consignment shops, haunted houses, home decor store, bakeries, and, of course, candy stores.

To claim a significant share of this Halloween cash will require local small business owners to advertise.  The key to successful advertising is reaching as many Halloween shoppers as possible over the next four weeks.

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Topics store traffic, best way to advertise, radio advertising, retail stores, advice, small business advertising, buy local, holiday, halloween, pet owners

How Tampa Bay Retailers Can Keep Customers Buying Local

Sep 18, 2019 5:06:10 PM / by Larry Julius

Business owners who sell mattresses in the Tampa Bay area might be losing sleep.

Last year, local consumers spent close to $130 million for new mattresses.  A recent survey conducted by Piper Jaffray indicates that many retailers believe  that the category will become even stronger during the last four months of this year.

The reason for the owners' sleep loss is that many customers are skipping local stores and buying their mattresses on the internet. According to Statista, 37% of mattress buyers are now purchasing from one-of-175 direct-to-consumer sites like Casper or from online retailers like Amazon. 

To keep customers shopping local requires advertising.

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Topics store traffic, best way to advertise, retail stores, advertise on tampa radio, advertise in tampa bay, small business advertising, buy local

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