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How Are Southwest Florida Consumers Spending Their Money?

Oct 11, 2019 9:03:00 AM / by Larry Julius

Southwest Florida consumers are expected to spend $22.7 billion at retail this year, according to Nielsen. This means that every household, on average, will be spending $47,869.

To capture a larger share of these dollars, small business owners in the Fort Myers-Naples area need to know the answer to two questions.

The first question is, where is this enormous amount of cash being spent?  The list below details the answer.

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Topics best way to advertise, retail, store traffic, fort myers radio, small business owner, advice, consumer spending

SWFL Retailers Can Bag A Greater Share Of Holiday Spending

Oct 9, 2019 4:16:00 PM / by Larry Julius

Southwest Florida consumers are expected to spend $2.7 billion during this year's holiday shopping season, based on predictions by The National Retail Federation.  This would be a 4% increase over last year.

Deloitte, one of the world's top four accounting firms, forecasts similar growth.

"The projected holiday season growth is, in part, due to the current health of the labor market,” said Daniel Bachman, Deloitte's U.S. economic forecaster. “Near record-low unemployment rates, coupled with continued monthly job creation, may encourage people to spend more during the holiday season. The economy is still growing, albeit at a slower rate. Additionally, we continue to see consumer confidence elevated, which also helps boost holiday spending."

For most SWFL retailers, holiday spending brings in about 20% of annual sales But, long gone are the days when the bulk of this shopping occurred between Black Friday and Christmas.

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Topics best way to advertise, retail, radio advertising, advertise in Naples, advertise in Fort Myers, advertise in SWFL, small business owner, southwest florida small business, christmas shopping, holiday shopping

SWFL Retail: Small Business Owners Can Scare-Up Halloween Sales

Sep 23, 2019 8:04:00 AM / by Larry Julius

Based on information from the National Retail Foundation, Southwest Florida  consumers will be spending $34 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 the Fort Myers-Naples 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 SWFL 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 best way to advertise, retail, store traffic, advertise in Fort Myers, small business owner, fort myers radio stations, advertise in southwest florida, southwest florida small business, halloween

Shop Local: How SWFL Retailers Are Driving Store Traffic

Sep 18, 2019 5:32:24 PM / by Larry Julius

Business owners who sell mattresses in Southwest Florida might be losing sleep.

Last year, local consumers spent close to $40 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 best way to advertise, retail, store traffic, advertise in Fort Myers, advertise in SWFL, small business owner, fort myers radio stations, advertise in southwest florida, swfl small business, shop local, buy local

Advertising In SWFL: Comparing The Options For Small Business Owners

Sep 13, 2019 6:56:00 AM / by Larry Julius

Advertising is critical to the success of every Southwest Florida small business owner.  One of the most powerful elements of any advertising campaign is how many people it reaches.

Nielsen, the world's largest consumer insights company, found that advertising reach has a more significant effect on sales than branding, recency, and context.

There are many ways a local business owner can advertise. This includes traditional media like Fort Myers radio, local TV, and newspaper. It also includes online advertising options such as Facebook, Instagram, and Pandora.

They type of customer an individual business needs to reach depends on the goods and services the company sells. For instance, a daycare operator might want to reach households with young children. On the other hand, a real estate agent could be looking for consumers in the market to purchase a new home.

The charts below reveal how the different advertising options available to Fort Myers-Naples business compare in terms of the ability to reach customers with specific characteristics. This includes age, income, education, employment status, political affiliation, number of children, ethnicity, and purchase intent.

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Topics best way to advertise, retail, small business advertising, advertise in southwest florida, fort myers television, fort myers tv, social media advertising, newspaper advertising, effective advertising

Top 10 Reasons An SWFL Small Business Might Fail

May 6, 2019 11:00:00 AM / by Larry Julius

Some of the bravest people in Southwest Florida are small business owners.  These hearty entrepreneurs invest their passion, their hope, their time, and, of course, their money despite the odds.

According to the Small Business Administration (SBA), the good news is that 80% of small businesses make it through the first year. After that, though, only about half will make it to their fifth anniversary. Even fewer, 33% will keep their doors open for ten years.

CBInsights performed an analysis to determine the top ten reasons small business owners fail.  I have included the entire list. But, of particular importance, is reason #8, "poor marketing". This subject will be discussed in more detail because this is where advertising on Fort Myers radio stations can help business owners not to fail.

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Topics car dealership, retail, small business advertising, radio advertising, advertise in Naples, advertise in Fort Myers, advertise in SWFL, small business owner, fort myers radio stations

What is the Best Way To Advertise Retail Stores In SWFL?

Apr 12, 2019 6:30:00 AM / by Larry Julius

Over the next 12 month, Southwest Florida consumers will spend $22 billion on retail products.

Small business owners who want to compete for a share of this cash will need to advertise. As Professor Jef Richards at Michigan State University points out, “Advertising is totally unnecessary…unless you want to make money.”

Bottom line: SWFL consumers will only buy from retailers they know about.

There are many ways small business owners to advertise. This includes local television, newspapers, or streaming media platforms like Pandora and Spotify.

But regardless of what product a retailer sells, the best option is advertising on Fort Myers radio. Radio reaches significantly more consumers in every major retail category than all of the other media choices.

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Topics retail, store traffic, sales

Cape Coral Business Owner Uses SWFL Radio Stations To Drive Traffic

Apr 5, 2019 6:20:00 AM / by Larry Julius

"We have been very pleased with the results of our radio advertising," says Kimberly Bell, who handles the marketing for Fix Marine Supply in Cape Coral. "It has been a very good investment for us."

Florida has more recreational boats than any other state, according to the National Marine Manufacturers Association.  Almost 21,000 of these pleasure craft are registered in Collier County alone.

Eight years ago, John Fix started Fix Marine Supply at his dining room table in Cape Coral to try and grab a share of the $150,000,000 that is spent on boating related purchases in the county each year. The company specializes in boat lifts and supplies for both residential consumers and contractors.

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Topics retail, Cape Coral, Boat, store traffic

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