“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, Boston area parents are expected to spend a record $664,652,072 to prepare more than 677,200 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 Boston area will be on:

• Clothing: $234.4 million
• Shoes: $192.2 million
• Supplies: $124.9 million
• Electronics: $104.1 million

In addition to expenditures for K-12,  $ 1.5 billion is expected to be spent in the Boston 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 Boston area college students in 2023 will include:

• Electronics: $371.6 million
• Dorm/Apartment Furniture: $209.8 million
• Clothing: $200.2 million
• Food Items: $166.5 million

In order to capture the largest portion of this record back-to-class cash, Boston 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.

Father's Day, this year, is June, 18. To celebrate the dads in their lives, 3.4 million Boston area consumers are expected to spend a record $451.1 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  87% of all Father's Day spending will be concentrated into four gift categories:

• Special Outing: $153.6 million
• Clothing: $68.9 million
• Gift Cards: $55.1 million
• Electronics:  $51.2 million
• Clothing: $65.0 million

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

The challenge for Boston 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 Boston consumers of the benefits of buying from local retailers.  By almost every marketing metric, the best way to advertise is on Boston radio.

Mother's Day is On May 14th this year. According to per capita data from The National Retail Federation, 3.4 million adult consumers in the Boston area plan to celebrate the occasion.

Between now and that special Sunday in May, the NRF expects a record $703.2 million to be spent in Boston 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, Boston 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 Boston area will fall into three categories:

1. Jewelry: $17,287,880
2. Special Outing: $12,411,812
3. Electronics: $8,865,580

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

Despite high-interest rates, inflation, and recession fears, Boston area consumers are expected to spend between $101.1 and $103.0 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 Boston 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 $10,1 billion dollar outflow.

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

Over the next 12 months, according to Nielsen, 601,160 Boston area households plan to buy furniture and mattresses. Based on a per capita forecast from Furniture Today, these expenditures will total $1.98 billion during 2023, a $36.2 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 Boston radio.

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

Based on per capita spending forecasts from the National Retail Federation (NRF), Boston area consumers are expected to spend $407.6 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."

Boston 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 Boston radio is still the best way to reach local shoppers.

Every week, according to Nielsen, Boston radio reaches 3.3 million adult consumers.    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 Boston radio stations over the air, Nielsen reports that 931,966 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.

Economic concerns among Boston 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 $14.9 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 Boston 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 Boston radio.

Boston 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 Boston, however, is local radio.

Every week, according to Neilsen, 3.4 million adults tune-in to their favorite radio stations. This is significantly more than any other advertising medium.

In addition to the adults who listen to Boston radio over-the-air, an incramental 110,000 adults connect to their favorite stations online as well using their phones, computers, and tablets. In all, according to Nielsen, 26.3% of all Boston radio listeners listen both online and offline.

Local consumers may have a gloomy feeling about economic conditions, but their spending has not tapered. This is good news for the 205,625 small business owners in the Boston 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). Boston consumers were forecast to spend nearly $80 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 Boston 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.