Boston area consumers are expected to spend upward of $68-billion at retail in 2021. This would be, at minimum, a 6.5% jump over 2020. The forecast is based on newly released estimates by the National Retail Federation.
“Despite the continuing health and economic challenges COVID-19 presents, we are very optimistic that healthy consumer fundamentals, pent-up demand and widespread distribution of the vaccine will generate increased economic growth, retail sales and consumer spending,” NRF President and CEO Matthew Shay said.
“From the outset of the pandemic, retailers have gone above and beyond even the most conservative safety guidelines to protect and serve their associates and consumers alike."
To capture the largest possible share of spending growth, local retailers will need to advertise. By the most crucial marketing metrics, the best best way to reach consumers is by advertising on Boston radio.
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radio advertising,
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small business advertising,
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retail store,
online shopping,
retail spending
Boston area business owners are expected to invest $1.7-billion during 2021 to advertise to consumers connected to the internet. This forecast was produced by Borrell Associates, a company that tracks business advertising expenditures across the country.
These online marketing dollars will be spent on banner advertising, search engine marketing, email, as well as audio and video advertising. This is all to capture the attention of shoppers and buyers as they go about their connected days.
According to Nielsen, 95.8% of adult consumers in the Boston area have access to the internet. They connect, primarily, with desktop and laptop computers; smartphones; or tablets.
Ninety-seven percent of Boston adults spend at least one hour per week online, with most spending at least 10 hours connected.
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small business owner,
small business marketing,
online advertising,
social media advertising,
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facebook advertising,
instagram advertising,
digital advertising,
small business advertising,
facebook,
ott,
ctv,
AVOD,
online shopping,
internet
Since 1921, advertising on Boston radio has helped small business owners survive and thrive during times of peril. This includes world wars, natural disasters, depressions, and recessions.
Even during a pandemic, by almost every key marketing metric, radio advertising remains the best way for a Boston business to market its goods and services.
To prove the point, here are five statistics that vividly demonstrate the value of advertising on Boston radio.
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There are 2,087,000 adult women in the Boston area. Based on research from the Harvard Business Review, as a consumer group, females account for 70-80 percent of all consumer purchasing through a combination of their buying power and influence. According to Nielsen, this will amount to between $72 billion and $82.3 billion this year.
Overall, according to the Bureau of Labor Statistics and the US Census Bureau:
- Single women across all income brackets spend, on average, $34,817 on goods and service
- Working married women contribute over a third of their families’ incomes
- Over a quarter (29.4%) of wives earned more than their husbands in 2018, an increase from 15.9% in 1981.
Furthermore, according to research published by Forbes:
- The top homebuyers after married couples are single women (18%, double the percentage for single men at 9%).
- Women are 50% more likely than men to regularly watch online how-to videos.
- 94% of women between the ages of 15-35 spend over an hour per day shopping online.
- 70% of travel consumers are women.
- 85% of women say that if they like a brand, they will remain loyal to it.
For Boston small business owners to successfully capture a meaningful share of the local female economy requires advertising.
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best way to advertise,
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market to women,
advertise to women,
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advertise on radio,
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Boston's first radio station, WBZ-AM, began broadcasting on September 15, 1921. The process of getting the station's programming from the studio into the home of local listeners required tall-transmitting towers with miles of underground copper wire in the middle of massive fields.
For the next 72 years, this massive investment in real estate, steel, and cooper was the only method of delivering a radio advertiser's message into the ears of Boston consumers.
In 1993, however, new technology permitted Boston radio stations to augment the reach of their tall towers by simultaneously streaming its over-the-air programming via the internet. This provided local consumers with the choice of listening to their favorite stations on their car radios, clock radios, and boom boxes or on an internet connected devices like computers, smartphones, or tablets.
Today, based on estimates from Edison Research, 11% of listening to local radio stations occurs on a streaming media device. The ability for AM/FM to migrate from their tall towers to internet streaming allows Boston radio to reach more local consumers every week than all other media.
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alexa
Radio came to Boston in September of 1921 when WBZ signed-on. The station was owned by Westinghouse Electric. The debut broadcast was from the Eastern States Exposition in Springfield, perhaps the first-ever radio-remote.
From that day, many predicted radio's success would succumb to advances from new technologies. In 1927, the challenge came from talking movies. In the 1940s, the predators were 13-inch TV sets. In the 1970s, it was 8-track and cassette tapes. In the past 20 years, there was a multi-flank attack from iPods, Zunes, YouTube, Sirius, XM, Pandora, Spotify,
So far, all of these challengers have failed. Not even a pandemic has been able to remove radio as a vital force in the life of Boston consumers.
Every week, according to Nielsen, more adults tune-in to Boston radio than watch TV or cable. Use social media platforms like Facebook or Instagram. Read newspapers. Or, stream music from Pandora or Spotify.
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best way to advertise,
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small business advertising,
vehicle traffic,
in-car audio,
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point of purchase,
mobility
How important is Twitter to Boston area consumers? Yesterday, for instance, the social media platform was mentioned in at least ten articles published by the Boston Globe yesterday. Almost every local TV newscast included references to the site as well.
Twitter's outsized presence in the news, however, is enormously disproportional to the importance of the micro-blogging app in the life of Boston's consumers.
According to Nielsen, only about 17% of adults in Boston use Twitter during the course of a month. This is minuscule compared to other social media platforms like Instagram and Facebook.
Twitter offers 20 different options that Boston small business owners can utilize to market their goods and services to local consumers. The platform's minimal reach, however, can hamper the success of any advertising campaign.
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best way to advertise,
radio advertising,
small business owner,
small business marketing,
social media advertising,
small business,
facebook advertising,
instagram advertising,
small business advertising,
facebook,
twitter
Local radio came to Boston on September 19, 1921, when WBZ signed-on. The station was owned by Westinghouse Electric. The debut broadcast was from the Eastern States Exposition in Springfield, perhaps the first-ever radio-remote.
For almost 100 years, small business owners have depended on local radio stations to successfully market their goods and services through depressions, recessions, wars, and natural disasters. Even now, during a pandemic, advertising on Boston radio remains a dependable way to make cash registers ring.
Here are five facts every Boston Small business owner needs to know about local radio in 2020.
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radio advertising,
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online shopping,
education
Over 95% of Boston adults have access to the internet, according to Nielsen. Almost 70% of these consumers spend more than five hours a week connected.
Nielsen reports that Boston consumers go online to stay connected to friends and family; research products and services; learn the latest news, and obtain directions to where they are going and know what the weather will be when they get there.
Here are some of the many reasons why Boston internet users go online each month
- Social Media: 77%
- Weather: 60%
- Online Banking: 59%
- Maps/Directions: 50%
- Product Reviews: 48%
- Sports Scores/News: 43%
- Current Events: 42%
- Restaurant Reviews: 37%
- Real Estate: 19%
- Job Search: 17%
And, of course, there is shopping. Over the past three months, according to Nielsen, 77.5% of Boston consumers shopped online for every imaginable product and service including, cars, golf clubs, office supplies, wedding rings, mattresses, tires, medicine, shoes, socks, and eyeglasses.
To reach local consumers while they are online, Boston businesses will spend $1.7 billion for digital advertising in 2020, according to Borrell Associates. Here is how the money is being spent:
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radio advertising,
small business owner,
small business marketing,
online advertising,
social media advertising,
small business,
business-to-business,
small business advertising,
e-commerce,
ott,
ctv,
email marketing,
email advertising,
online shopping
As the pandemic rages on, advertising is no longer a luxury for the 205,000
small businesses in the Boston-Cambridge-Newton, MA-NH Metro area. Advertising has become a tool for survival.
As cash becomes precious, though, Boston area small business owners and retailers need to ensure that every dollar spent on advertising has a significant effect on sales.
To make the best advertising choices, thousands of local business owners have sought advice and direction from
www.AdvertiseInBoston.Com. Here is a recap of the top 5 articles read on the site during 2020.
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retail,
best way to advertise,
newspaper advertising,
boston newspaper,
radio advertising,
small business owner,
small business marketing,
television advertising,
small business,
small business advertising,
advice,
television,
retail sales,
retailer,
retail store,
PAY-TV,
Cable TV,
ott,
ctv,
SVOD,
AVOD,
2020