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SWFL Back To School Shopping To Top $163.2M in 2023

Jul 16, 2023 4:26:16 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, Fort Myers area parents are expected to spend a record $163,298,350 to prepare more than 142,800 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 Fort Myers area will be on:

  • Clothing: $59.8 million
  • Shoes: $47.2 million
  • Supplies: $30.6 million
  • Electronics: $25.7 million

In addition to expenditures for K-12,  $369 million is expected to be spent in the Fort Myers 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 Fort Myers area college students in 2023 will include:

  • Electronics: $91.2 million
  • Dorm/Apartment Furniture: $51.5 million
  • Clothing: $49.1 million
  • Food Items: $40.9 million

In order to capture the largest portion of this record back-to-class cash, Fort Myers 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 Reach, roi, best way to advertise, retail, back to school shopping, return on investment, retail sales, retail store, retailer, advertising reach, reach & frequency, back-to-school, education, retail spending, ad spending, advertising return on investment, advertising roi

Advertising In Fort Myers: Why Radio Is Still The Best Option

Jun 24, 2023 11:32:19 AM / by Larry Julius

Local businesses have been marketing their goods and services on Fort Myers radio since 1940. That's when The Fort Myers Broadcasting Company was granted a license to build and operate WFTM.

WFTM switched its call sign in 1942 to WAAC and became an affiliate of the CBS radio network. Two years later, the call letters changed once again. This time to WINK.

Who could have guessed that 83 years later, advertising on Fort Myers radio would still be the best advertising option for all types of retailers and business owners.

Every week, according to Nielsen, Fort Myers radio reaches 839,160 adult consumers. This reach is significantly higher than all other advertising options including local TV, cable, social media, streaming video, online audio, and newspapers.

Reach, according to Nielsen, is the audience metric most responsible for driving the success of an advertising campaign. Only the message itself carries more sway.

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Topics Reach, best way to advertise, small business advertising, streaming audio, small business owner, swfl small business, southwest florida small business, small business, advertising reach, reach & frequency, small business marketing, radio listening, share of ear, advertising options, streaming media

Lessons A Ft. Myers Business Can Learn From World's Biggest Advertiser

May 12, 2023 3:49:14 PM / by Larry Julius

There are 30,869 small businesses in the Cape Coral-Fort Myers, FL Metro Area, according to the U.S. Census Bureau. Almost every one of these businesses is competing for a portion of the $24.8 billion of local retail spending expected to occur in 2023.*

To capture the largest share of this giant pool of consumer cash, Fort Myers small business owners will need to consider advertising.

"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. Advertising, if done correctly, can do wonders for your sales., and you know what that means: more revenue and more success for your company."

One of the best ways to advertise in Fort Myers may be on local radio, a fact not lost on the world's largest advertiser, Proctor & Gamble. Last year, P&G upped spending on the radio by 43% to $235 million, according to Vivvix (formerly Kantar Media), led by a big jump in local radio.

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Topics Reach, fort myers radio, advertise in SWFL, How to Advertise on Radio, advertise in southwest florida, swfl small business, southwest florida small business, advertising reach, reach & frequency, advertise on radio, radio listening, Advertise on Fort Myers Radio, advertising on radio, who listens to radio, am/fm radio

Advertising In Southwest Florida: Mother's Day Spending To Set Record

Apr 30, 2023 10:45:36 AM / by Larry Julius

Mother's Day is On May 14th this year. According to per capita data from The National Retail Federation, 839,160 adult consumers in the Fort Myers area plan to celebrate the occasion.

Between now and that special Sunday in May, the NRF expects a record $172.8 million to be spent in Fort Myers 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, Southwest Florida 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 Fort Myers area will fall into three categories:

  1. Jewelry: $37,749,929
  2. Special Outing: $27,102,513
  3. Electronics: $19,358,938

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 SWFL 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 Fort Myers consumers of the benefits of buying from local companies.  By almost every marketing metric, the best way to advertise is on Fort Myers radio.

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Topics Reach, roi, retail, radio advertising, advertise to mothers, return on investment, mother's day, retail sales, retail store, retailer, advertising reach, reach & frequency, Advertise on Fort Myers Radio, retail spending, advertising return on investment, advertising roi

Advertise In Fort Myers: Retail Sales To Exceed $24.8 Billion in 2023

Apr 10, 2023 4:45:26 PM / by Larry Julius

Despite high-interest rates, inflation, and recession fears, Fort Myers area consumers are expected to spend between $24,8 and $25.3 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 Fort Myers 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 $2.5 billion dollar outflow.

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

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Topics Reach, roi, best way to advertise, retail, return on investment, retail sales, retail store, retailer, advertising reach, reach & frequency, retail spending, advertising return on investment, advertising roi

In-Car Listening Drives Fort Myers Radio To The Top

Mar 14, 2023 5:20:36 PM / by Larry Julius

Fort Myers radio reaches more Southwest Florida consumers each week than any other advertising medium.

According to Nielsen, 877,056 adults tune in to their favorite AM/FM stations every week.  This is significantly more consumers than are reached by Fort Myers TV, cable, streaming video, streaming audio, social media, or newspapers.

AM/FM radio's dominance among local consumers is driven, in large part, by the  960,533 Fort Myers area adults who take to the road in their car or truck every week, according to Neilsen.

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Topics Reach, best way to advertise, streaming audio, in-car listening, advertising reach, reach & frequency, in-car audio, share of ear, streaming media, car radio, am/fm radio

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

Jan 26, 2023 1:46:10 PM / by Larry Julius

Southwest Florida business owners should brace for a sweet Valentine's Day in 2023.

Based on per capita spending forecasts from the National Retail Federation (NRF), Fort Myers area consumers are expected to spend $100.2 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 Reach, roi, retail, radio advertising, return on investment, valentine's day, retail sales, retail store, retailer, advertising reach, reach & frequency, retail spending, advertising return on investment, advertising roi

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

Nov 30, 2022 4:09:48 PM / by Larry Julius

Southwest Florida 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 Fort Myers radio is still the best way to reach local shoppers.

Every week, according to Nielsen, Fort Myers radio reaches 877,056 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 Fort Myers radio stations over the air, Nielsen reports that 223,251 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 Reach, roi, fort myers radio, advertise in Fort Myers, advertise in SWFL, fort myers radio stations, advertise in southwest florida, return on investment, advertising reach, reach & frequency, Advertise on Fort Myers Radio, advertising return on investment, advertising roi

Holiday Spending In Southwest Florida Will Top $3.6 Billion In 2022

Nov 11, 2022 4:37:42 PM / by Larry Julius

Economic concerns among Fort Myers 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 $3.6 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 Fort Myers 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 Fort Myers radio.

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Topics Reach, roi, radio advertising, return on investment, christmas shopping, holiday shopping, consumer spending, advertising reach, reach & frequency, holiday advertising, advertising return on investment, advertising roi

Southwest Florida Consumers Still Spending Despite Economic Sentiment

Aug 8, 2022 4:55:10 PM / 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 30,689 small business owners in the Southwest Florida 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). Fort Myers consumers were forecast to spend nearly $18.8 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 Fort Myers 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 Reach, roi, best way to advertise, radio advertising, recession, consumer spending, advertising reach, reach & frequency, consumer confidence, inflation, advertising roi

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