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Tampa Bay Back To School Shopping To Top $431.5M in 2023

Jul 16, 2023 12:46:49 PM / by Larry Julius

“Back-to-class shopping is one of the most important consumer shopping occasions of the year," says Matthew Shay, President and CEO of the National Retail Federation (NRF).  "Our research for 2023 shows American consumers are eager to jumpstart their back-to-school and college purchases early."

Based on per capita spending estimates from the NRF, Tampa Bay area parents are expected to spend a record $431,571,875 to prepare more than 435,400 children returning to grades K-12. These expenditures will exceed 2022 back-to-school sales by 12.5%

Expenditures to equip K-12 students in the Tampa Bay area will be on:

  • Clothing: $158.1 million
  • Shoes: $124.7 million
  • Supplies: $81.1 million
  • Electronics: $67.6 million

In addition to expenditures for K-12,  $ 977.5 million is expected to be spent in the Tampa Bay area to prepare college students for their return to campus. This is 27% more than was spent last year. Another record.

The biggest spending categories to equip Tampa Bay area college students in 2023 will include:

  • Electronics: $241.2 million
  • Dorm/Apartment Furniture: $136.2 million
  • Clothing: $129.2 million
  • Food Items: $108.1 million

In order to capture the largest portion of this record back-to-class cash, Tampa Bay small business owners will need to fight to keep these dollars local. According to the NRF, a painful majority of shoppers plan to buy online and in department stores.  While only 13-15% of consumers plan to buy locally.

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Topics Return On Investment, ROI, best way to advertise, reach, retail stores, back-to-school-advertising, shop local, Retail Sales, Retailer, retail, reach & frequency, advertising reach, education, retail spending, ad spending, advertising return on investment, advertising roi

Advertise In Tampa Bay: Retailers Expect Record Father's Day Spend

Jun 2, 2023 5:20:47 PM / by Larry Julius

Father's Day, this year, is June, 18. To celebrate the dads in their lives, 2.2 million Tampa Bay area consumers are expected to spend a record $292.9 million. According to a per capita forecast by the National Retail Federation (NRF), 2023 spending will be 14.5% more than last year.

“Father’s Day remains a momentous occasion for Americans to honor the important men in their lives,” NRF President and CEO Matthew Shay said. “Consumers plan to celebrate the holiday in a big way this year, and retailers are ready to help make it special.”

The record highs for both collective and average spending are primarily driven by an increase in the percentage of consumers purchasing clothing, electronics, personal care and special outings and the amount they are spending on these categories.

Overall  80% of all Father's Day spending will be concentrated into four gift categories:

  • Special Outing: $99,767 million
  • Clothing: $44,768 million
  • Gift Cards: $35,813 million
  • Electronics:  $33,225 million
  • Personal Care: $21,774 million

The remainder of the retail dollars Tampa Bay consumers spend will be for tools/appliances, sporting goods, greeting cards, and books/CDs.

The challenge for Tampa Bay area retailers, however, is keeping a significant share of these Father's Day dollars in local cash registers and out of the coffers of online sellers and department stores. Right now, according to the NRF, those two retail channels will gobble up almost 81% of all spending.

To earn a larger share of Father's Day spending, local small business owners will need to advertise to convince Tampa Bay consumers of the benefits of buying from local retailers.  By almost every marketing metric, the best way to advertise is on Tampa Bay radio.

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Topics Return On Investment, ROI, best way to advertise, retail stores, holiday, holiday shopping, Retail Sales, Retailer, retail, holiday advertising, retail spending, advertising return on investment, advertising roi, father's day, father

Advertising In Tampa Bay: Mother's Day Spending Will Set Record

Apr 29, 2023 11:30:51 AM / by Larry Julius

Mother's Day is On May 14th this year. According to per capita data from The National Retail Federation, 2.2 million adult consumers in the Tampa Bay area plan to celebrate the occasion.

Between now and that special Sunday in May, the NRF expects a record $456.6 million to be spent in Tampa Bay to honor all the different moms in consumers' lives. Of those celebrating Mother’s Day, most (57%) are purchasing gifts for a mother or stepmother, followed by a wife (23%) or daughter (12%).

Comparatively speaking, Tampa Bay area consumers will spend 12.6% more to celebrate Monther's Day this year than they did in 2022, which was also a record year.

“Mother’s Day provides Americans with an opportunity to honor important women in their lives,” NRF President and CEO Matthew Shay said. “As people make plans to celebrate this year, retailers are prepared to help shoppers find gifts of appreciation and admiration for those they want to recognize on this special day.”

Almost half of all Mother's Day spending in the Tampa Bay area will fall into three categories:

  1. Jewelry: $99,767,130
  2. Special Outing: $71,627,683
  3. Electronics: $51,162,631

The other half of Mother's Day spending includes purchases of gift cards, clothing, flowers, personal services, housewares, books, and greeting cards.

The challenge for Tampa Bay area retailers, however, is keeping a significant share of these Mother's Day dollars in local cash registers and out of the coffers of online sellers and department stores. Right now, according to the NRF, those two retail channels will gobble up almost 68% of all spending.

To earn a larger share of Mother's Day spending, local small business owners will need to advertise to convince Tampa Bay consumers of the benefits of buying from local companies.  By almost every marketing metric, the best way to advertise is on Tampa Bay radio.

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Topics Return On Investment, ROI, best way to advertise, retail stores, advertising to mothers, holiday, holiday shopping, mother's day, Retail Sales, Retailer, retail, holiday advertising, retail spending, advertising return on investment, advertising roi

Advertise In Tampa Bay: Retail Sales To Exceed $65.6 Billion in 2023

Apr 10, 2023 4:17:50 PM / by Larry Julius

Despite high-interest rates, inflation, and recession fears, Tampa Bay area consumers are expected to spend between $65.6 and $66.9 billion dollars at retail in 2023, according to recent per capita forecasts based on a survey by the National Retail Federation. This will be a 4-6% increase over 2022.

“In just the last three years, the retail industry has experienced growth that would normally take almost a decade by pre-pandemic standards,” NRF President and CEO Matthew Shay said. “While we expect growth to moderate in the year ahead, it will remain positive as retail sales stabilize to more historical levels."

The challenge for Tampa Bay area retailers, however, is keeping a significant share of these dollars in local cash registers. According to the NRF, the amount of money spent online and non-store options will increase by 10-12%. This is nearly twice the growth rate of all 2023 retail dollars and translates to more than a $6.6 billion dollar outflow.

To keep the expected deluge of new retail dollars local, area small business owners will need to advertise to convince Tampa Bay consumers of all the benefits of buying from local companies.  By almost every marketing metric, the best way to advertise is on Tampa Bay radio.

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Topics Return On Investment, ROI, best way to advertise, reach, retail stores, Retail Sales, Retailer, retail, reach & frequency, advertising reach, retail spending, advertising return on investment, advertising roi

Best Way To Advertise In Tampa Bay: Furniture & Mattresses

Feb 23, 2023 9:57:18 AM / by Larry Julius

Over the next 12 months, according to Nielsen, 337,945 Tampa Bay area households plan to buy furniture and mattresses. Based on a per capita forecast from Furniture Today, these expenditures will total $1.29 billion during 2023, a $23.5 million dollar increase over 2022.

Although the forecast growth of furniture and bedding sales is expected to moderate a bit versus 2021, what retailer would not want to grab a share of the multi-million dollar category growth this year?

To capture a bigger share of the increased spending on chairs, couches, beds, tables, and mattresses will require local stores to invest in marketing. And according to most key metrics, the best way to reach local furniture buyers is with advertising on Tampa Bay radio.

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Topics Return On Investment, ROI, reach, radio advertising, retail stores, home furnishings, furniture, mattress, Retail Sales, Retailer, retail, reach & frequency, advertising reach, retail spending, advertising return on investment, advertising roi

Valentine's Spending In Tampa Bay Expected To Grow 8.4% in 2023

Jan 26, 2023 9:57:20 AM / by Larry Julius

Tampa Bay business owners should brace for a sweet Valentine's Day in 2023.

Based on per capita spending forecasts from the National Retail Federation (NRF), Tampa Bay area consumers are expected to spend $264.7 million on their Valentines this year, 8.4% more than they did in 2022.

Overall, says the NRF, 52% of consumers plan to celebrate Valentine's day this year. On average, each celebrant will spend $192.80 on holiday gifts and outings. This is $17 more than last year.  Here is the most interesting part, though.

"While spending on significant others and family members is in line with last year, many consumers are looking to show appreciation for the other meaningful relationships in their lives," says the NRF. "Of the $17 increase in per-person spending, $14 comes from gifts for pets, friends, and co-workers, along with classmates or teachers."

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Topics Return On Investment, ROI, reach, retail stores, Valentine's Day, Retail Sales, Retailer, retail, reach & frequency, advertising reach, retail spending, advertising return on investment, advertising roi

Surprise? Tampa Radio Is Still #1 Way To Reach Local Consumers

Nov 30, 2022 3:42:38 PM / by Larry Julius

Tampa Bay area business owners have an abundance of options for marketing their goods and services to local consumers. New research from Nielsen, however, indicates that advertising on Tampa radio is still the best way to reach local shoppers.

Every week, according to Nielsen, Tampa radio reaches 2.2 million adults. This is significantly more than are reached by social media, local TV stations and cable systems, newspapers, streaming video and audio, and podcasts.

In addition to listening to their favorite Tampa radio stations over the air, Nielsen reports that 647,443 adults also listen to local stations online every month.

As a matter of fact, according to a study conducted by Edison Research during the third quarter of 2022, among Adults 25-54, 17% of all time spent listening to local AM/FM stations occurs online. This share of online listening has nearly doubled since 2016.

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Topics Return On Investment, ROI, reach, advertise on tampa radio, advertise in tampa bay, advertising in Tampa, reach & frequency, advertising reach, tampa bay radio, advertising return on investment, advertising roi, advertise in Tampa

Holiday Spending In Tampa Bay Will Top $9.6 Billion In 2022

Nov 11, 2022 5:04:50 PM / by Larry Julius

Economic concerns among Tampa Bay 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 $9.6 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 Tampa Bay 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 Tampa Bay radio.

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Topics Return On Investment, ROI, radio advertising, advertise on tampa radio, holiday, holiday shopping, christmas shopping, consumer spending, holiday advertising, advertising return on investment, advertising roi

Best Way To Advertise In Tampa Bay: AM/FM Radio Still Rules

Aug 30, 2022 2:06:40 PM / by Larry Julius

Tampa Bay area small business owners have an abundance of options for advertising their goods and services. Choices include local TV, local cable, social media, streaming video, streaming audio, podcasts, and newspapers.

The best way to advertise in Tampa Bay, however, is local radio.

Every week, according to Neilsen, 2.2 million adults tune-in to their favorite Tampa Bay radio stations. This is significantly more than any other advertising medium.

In addition to the adults who listen to Tampa Bay radio over-the-air, an incremental 93,926 adults connect to their favorite stations online as well using their phones, computers, and tablets. In all, according to Nielsen, 29.2% of all Tampa Bay radio listeners listen both online and offline.

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Topics Return On Investment, ROI, small business, small business owner, best way to advertise, reach, radio advertising, tampa small business owners, small business advertising, reach & frequency, small business marketing, advertising reach, advertising return on investment, advertising roi

Tampa Bay Consumers Still Spending Despite Economic Sentiment

Aug 8, 2022 11:13:24 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 123,853 small business owners in the Tampa Bay 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). Tampa Bay consumers were forecast to spend nearly $50 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 Tampa Bay 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.

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Topics ROI, best way to advertise, reach, radio advertising, recession, consumer spending, reach & frequency, advertising reach, consumer confidence, inflation, advertising roi

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