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Larry Julius


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What Is The Best Way To Reach Online Shoppers In Fayetteville?

Nov 17, 2020 4:08:23 PM / by Larry Julius

Fayetteville shoppers are expected to spend a record $1.1 billion online in 2020, based on the most recent projections from eMarketer. This would represent year-over-year growth of 32.4%.

During the same period, according to eMarketer, receipts at brick-and-mortar stores have contracted by 3.2%.  Overall, excluding gas and auto sales, e-commerce will account for 20.6% of all retail sales this year.

The Coronavirus pandemic is credited with this seismic shift in shopping behavior as consumers continue to avoid stores and opt for online shopping.

“We’ve seen e-commerce accelerate in ways that didn’t seem possible last spring, given the extent of the economic crisis,” said Andrew Lipsman, eMarketer principal analyst at Insider Intelligence. “While much of the shift has been led by essential categories like grocery, there has been surprising strength in discretionary categories like consumer electronics and home furnishings that benefited from pandemic-driven lifestyle needs.”

Even before the onset of the pandemic, 71.8% of Fayetteville consumers had bought goods online over the prior six months, according to Nielsen research. Purchases included clothing, health & beauty products, travel reservations, books, furniture, and groceries.

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Topics Retailer, retail, Website Traffic, attribution, best way to advertise, radio advertising, retail sales, retail stores, web traffic, website visitors, e-commerce, retail traffic, advertise on radio, retail store traffic, online shopping

Small Business Advertising In Fayetteville: Consumers Ready To Spend

Nov 13, 2020 8:39:05 AM / by Larry Julius

There is positive news for the 8,600 small businesses in the Fayetteville, North Carolina metro area.  A majority of consumers say they are ready to start shopping again.

A lifestyle survey just released from Nielsen indicates 53% of Americans believe that despite the continuing pandemic, life is beginning to normalize, and they are likely to resume typical activities.  Nielsen refers to this majority as "Ready-To-Go".

According to the survey, Ready-To-Go consumers now perceive less risk, feel safer, and believe their cities are emerging from crisis.

The key takeaway for Fayetteville small business owners is that Ready-To-Go consumers are significantly more likely to start shopping within 30 days than the total population.  These buyers, according to Nielsen, are looking to spend on home improvement, professional services, auto parts/repair, shopping, food & dining, and travel.

To capture a meaningful share of the money Ready-To-Go consumers will be spending requires local small business owners to advertise.  By almost every metric, advertising on Fayetteville radio is the best advertising option.

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Topics Retailer, roi, return on investment, retail, small business, small business owner, fayetteville consumers, fayetteville small business owners, effective radio advertising, consumer spending, radio advertising, retail sales, retail stores, small business marketing, retail traffic, advertise on radio, retail store traffic, small business advertising, consumer confidence

Advertising ROI In Fayetteville: Television vs. Radio

Nov 9, 2020 4:18:16 PM / by Larry Julius

Every week, according to Nielsen, significantly more consumers are reached by local radio than by Fayetteville area TV options.

For Fayetteville small business owners whose marketing budgets have been ravaged by the pandemic, though, the question is which of these media can provide the best return for their advertising investments. An ROI study conducted by Nielsen and commissioned by Cumulus Media | Westwood One provides a conclusive answer.

Between April 30 and May 27 of this year, Nielsen analyzed the sales results of a major retailer who conducted an advertising campaign on both radio and television during that period.  

Using  their Portable People Meter panel of 80,000 consumers, Nielsen measured the purchase behavior of consumers who were exposed to the advertiser's commercials on both radio and television. To learn more about the methodology, click here.

The result of the study indicates that the money invested in radio advertising had a much stronger return than the money spent on TV.

Here are the key findings of the ROI study:

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Topics Retailer, roi, return on investment, television, small business, small business owner, fayetteville television, fayetteville small business owners, radio advertising, television advertising, retail sales, retail stores, small business marketing, cable television, retail traffic, retail store traffic, small business advertising, satellite television

AVOD: 4 Letters Every Fayetteville Small Business Owners Should Know

Nov 3, 2020 11:39:01 AM / by Larry Julius

Before we explain AVOD, it is important to understand SVOD.

Fayetteville small business owners may not be familiar with SVOD, but chances are they let it into their homes and onto their phones.

SVOD is the abbreviation for Subscription Video On Demand. That is the collective name for streaming networks like Netflix, Hulu, Disney+, and Amazon Prime.  For a monthly fee, these services provide commercial-free access to TV shows, original content, and movies.

These SVOD networks are delivered to viewers' phones, tablets, computers, and smart-TVs via the internet and not over-the-air or cable systems.

SVOD makes up a significant part of what advertisers refer to as OTT (Over-The-Top-Television) and CTV (Connected-Television). OTT/CTV is video-programming content that viewers can only watch on smartphones, tablets, computers, smart-TVs, Amazon Firesticks, and Roku Sticks.  Nielsen reports that 94.2% of Fayetteville adults own at least one of these devices.

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Topics television, small business, small business owner, fayetteville television, fayetteville small business owners, best way to advertise, small business marketing, cable television, small business advertising, cable-tv, satellite television, ott, ctv, streaming video, svod, avod

Advertising On Fayetteville Radio Is Back In The Driver's Seat

Oct 28, 2020 11:47:55 AM / by Larry Julius

There are more than 267,000 car radios in the Fayetteville area. On March 30, though, many of these devices became quarantined along with their owners. That was the day when the Governor of North Carolina shut down the state to slow the spread of COVID-19.

According to the Apple Mobility Index, the Governor's public-safety order caused traffic on Fayetteville roadways to plummet to 55% of pre-pandemic levels.

By the beginning of July, however,  the AMI indicates that traffic in Fayetteville began to exceed pre-Covid levels. The surge in mobility is due, in part, to work-from-home, furloughed, and laid-off employees returning to their workplaces.

According to Nielsen, during the week of April 30, only 39% of adults with jobs were working outside-the-home.  During the week of October 1, though, that number had expanded to 61%.

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Topics small business, point of purchase, small business owner, fayetteville consumers, fayetteville small business owners, effective radio commercial, effective radio advertising, in-car audio, in-car listening, consumer spending, effective advertising, small business marketing, vehicle traffic, small business advertising, radio listening, consumer confidence, share of ear, mobility

Fayetteville Retail Sales Are Growing. Is It Time To Advertise?

Oct 20, 2020 2:16:04 PM / by Larry Julius

Now would be a good time for Fayetteville small business owners to consider increasing their advertising expenditures.

There are just over 8,600 small businesses in the Fayetteville, North Carolina metro area, according to the U.S. Census Bureau.  Based on some promising retail sales data, the Overall  Sentiment Index among local small business owners has improved 32.4% between April 26 and October 12 of this year.

The best news for business owners came from the Commerce Department on Friday when it reported that retail sales rose by a seasonally adjusted 1.9% in September.  This is the fifth straight month of gains.

Local retail gains are being powered by improving consumer confidence and a large pool of cash sitting in people's savings accounts.

The Conference Board's Consumer Confidence Index jumped to 101.8 in September, up 17.9% from August. This means consumers are in the mood to spend. Fortunately, they have money in the bank to do so.

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Topics Retailer, roi, return on investment, millennials, retail, small business, small business owner, fayetteville small business owners, purchase intent, consumer spending, millennial parents, retail sales, retail stores, small business marketing, retail traffic, retail store traffic, small business advertising, consumer confidence

Newspaper Advertising In Fayetteville: Advice For Business Owners

Oct 15, 2020 2:01:02 PM / by Larry Julius

Fayetteville area business owners are expected to spend $6.1million on newspaper advertising in 2020. This will be 35.8% fewer dollars than were spent in 2019, according to a study by Borrell Associates, a company that analyzes local media expenditures across the country.

Of course, the pandemic is part of the reason advertising revenues have plummeted at Fayetteville newspapers. But, the more significant factor is the sustained erosion of readership.

For example, between October 2017 and March 2019, the Monday-Saturday circulation of the Fayetteville Observer has decreased by 46%. The Sunday edition suffered a 49% decrease.

Among all advertising media available to small business owners, newspaper's ability to reach adult consumers now lags significantly behind Fayetteville radio, cable, broadcast TV, and social media.

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Topics small business, small business owner, fayetteville small business owners, best way to advertise, newspaper advertising, fayetteville observer, small business marketing, small business advertising, newspaper readers

Email Marketing In Fayetteville: Tips For Small Business Owners

Oct 5, 2020 6:48:50 AM / by Larry Julius

Fayetteville business owners are forecast to invest $800,000 in 2020 on email advertising campaigns to market their goods and services, according to Borrell Associates, a company analyzes ad spending by local companies across the country. 

Borrell predicts overall spending on email marketing by Fayetteville companies is expected to be down by nearly 12% versus last year, primarily due to the pandemic. Regardless, now might be a good time for small business owners to consider engaging current and prospective customers with emails.

"Email is on-fire right now," says Jay Schwedelson, President of Worldata, a company that builds and measures email marketing success for Fortune 100 companies. "Since the start of the pandemic, consumers are spending 22% in their email inbox than they were in January."

Mr. Schwedelson speculates the increase in inbox time is due, in part, to many consumers working from home and depending more-and-more on written communication from co-workers and customers.

"It could also be that consumers are finding comfort in their email boxes rather than from all the noise on social media."

"Either way, email marketing is performing better than ever," says Mr. Schwedelson. "We've studied more than 200 million emails sent over the past 30 days to both business-to-consumer and business-to-business. We found that B2C open rates are up 16% since January, while B2B open rates are 25% higher."

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Topics small business, fayetteville small business owners, small business marketing, small business advertising, open rates, CTR, subject line, inbox, email marketing, email advertising, click through rates

Advertise In Fayetteville: Shoppers' Needs Are Changing...Again!

Sep 29, 2020 8:28:44 AM / by Larry Julius

There are over 349,000 adult consumers in the Fayetteville area. Collectively, in a typical year, these shoppers would generate $8.5 billion in retail sales. This money would be spent on cars, shoes, fast-food, entertainment, groceries, mattresses, adult beverages, haircuts, makeup, and an over-abundance of other of goods and services. Their money was being spent on both the essential and the frivolous. 

The way Fayetteville consumers spend money changed radically in March as COVID-19 began to spread. Six months into the pandemic, shopping strategies are about to change again.

It started with panic buying. Consumers began ignoring prices and were paying what was ever necessary to ensure the safety, health, and comfort of their families.  According to Nielsen, this sudden spike in demand caused widespread price increases. To put it in perspective, retail prices shot-up in 64% of all product categories stocked in grocery stores.

Almost immediately, advertising messages from local retailers shifted from promises of low prices and convenience to product availability and shopper safety.

Based on new research from Nielsen, consumers' shopping strategies are beginning to shift again. This will require Fayetteville small business owners and retailers to also change their advertising strategies, too.

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Topics Retailer, roi, return on investment, small business, small business owner, fayetteville small business owners, retail sales, retail stores, coronavirus, corona, covid 19, small business marketing, retail traffic, retail store traffic, small business advertising, pandemic

How Fayetteville Small Business Owners Can Boost 2020 Holiday Sales

Sep 25, 2020 4:06:33 PM / by Larry Julius

Fayetteville area shoppers are expected to spend over $1.5 billion during this year's November-January holiday season. This estimate is based on a forecast issued last week by Deloitte, the world's largest business accounting firm.  This spending represents a 1-1.5% increase  versus the same period last year.

How can Fayetteville small business owners best compete for a significant share of the 2020 holiday expenditures?

"Retailers who prioritize customers’ desires for a safe, efficient shopping journey will be the big winners this year," writes Sean Gundz on www.ChainstoreAge.com.

"The holiday season is always a stressful time for retailers, especially the ones that make the majority of their revenue in the short window between Thanksgiving and Christmas," says Mr. Gundz. 

"Within this window is Black Friday, which, along with other big holiday sales events, are going to look a lot different this year. Retailers must accommodate COVID-19 mandates that enable social distancing, minimize surface touching, and actually restrict foot traffic in their facilities. All while trying to optimize sales."

Mr. Gundz says there is no single way to deal with the challenges facing retailers this holiday season. He does offer five tips, though, that every Fayetteville retailer can employ.

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Topics Retailer, retail, small business, small business owner, fayetteville small business owners, holiday shopping, christmas shopping, millennial parents, retail sales, retail stores, small business marketing, retail traffic, retail store traffic, small business advertising, holiday advertising, parents

Fayetteville Retailers Expect Sweet Halloween In 2020

Sep 22, 2020 12:49:20 PM / by Larry Julius

Fayetteville area consumers are expected to spend $11.7 million on Halloween related activities in 2020, according to information from the National Retail Federation.  This would be a slight 2.3% decrease from 2019. This is proof of the holiday's strong resistance to the pressures of a pandemic economy.

Based on data from the NRF's annual survey conducted by Prosper Insights & Analytics, more than 203,000 Fayetteville adults plan to participate in Halloween-related activities. Among those celebrants, safe at-home activities ranked highest: 53 percent plan to decorate their homes, 46 percent plan to carve a pumpkin, and 18 percent will dress up their pet.

“Consumers continue to place importance on celebrating our traditional holidays, even if by untraditional standards,” NRF President and CEO Matthew Shay said. “Retailers are prepared to meet the increased demand for seasonal décor, costumes, and other items that allow families the opportunity to observe Halloween safely.”

To earn a large share of Halloween spending in 2020, Fayetteville small business owner will need to advertise to let consumers know their stores are open, stocked, and ready. By any metric, advertising on Fayetteville radio is the best way to reach holiday shoppers.

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Topics Retailer, retail, small business, small business owner, fayetteville small business owners, Working Mothers, halloween, holiday shopping, children, millennial parents, retail sales, retail stores, small business marketing, retail traffic, retail store traffic, small business advertising, holiday advertising

Fayetteville Small Business Update: Auto Parts Sales Accelerate

Sep 18, 2020 3:18:45 PM / by Larry Julius

There are more than 267,000 vehicles registered in the Fayetteville area. Many need new windshield wipers, shocks, struts, brakes, air filters, ignition coils, and the hundreds of other items that fill the shelves of local auto part dealers.

Despite the pandemic induced slowdown, business at auto parts stores has grown nearly 13% since February, according to the US Census Bureau.

This explosive growth in auto parts sales directly relates to the  average age of cars on Fayetteville's roads.

"Per the latest study from IHS Markit, the current combined average age of vehicles has hit a record of 11.9 years," Rimmi Singhi wrote this week on NASDAQ.com. "The aging vehicles are a boon to auto parts, replacement, and repair companies. In a bid to ensure long-term functioning of the aging vehicle population, customers are making investments to replace faulty vehicle parts and components."

Also contributing to the rapid aging of cars on the road is the current demand for used versus new vehicles. According to the Bureau of Economic Analysis, the personal consumption expenditures (PCE) for used cars is 25% higher in August than it was during the same month last year.

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Topics Retailer, retail, small business, small business owner, fayetteville small business owners, best way to advertise, radio advertising, used cars, used vehicles, retail sales, retail stores, small business marketing, retail traffic, retail store traffic, advertising on radio, small business advertising, used trucks, auto parts

Banks and Credit Unions Reach ReFi Customers On Fayetteville Radio

Sep 12, 2020 9:40:56 AM / by Larry Julius

There are approximately 66,000 households in the Fayetteville area with existing mortgages, according to the US Census Bureau, American Housing Survey. The median amount owed on these homes is $127,000.

Yesterday, there was extraordinary news for many of these borrowers and for Fayetteville area banks, credit unions, and mortgage companies

According to The Federal Home Loan Mortgage Corporation (Freddie Mac), mortgage rates have hit an all-time low of 2.86%.

 
With interest rates at this new level, 20 million American homeowners can now refinance their existing mortgage, according to Black Knight, a data analytics company specializing in homeownership life cycles. 
 
By refinancing an existing mortgage, a Fayetteville area homeowner could considerably reduce the length of their loan or lower the amount of their monthly payments.
 
Local banks, credit unions, and mortgage companies create a great deal of revenue from refinancing. 
 
Generally, a lender can expect to earn two to five percent of the loan principal amount in closing costs, according to BankRate.com. For a $200,000 mortgage refinance, for example, closing costs could generate between $4000 and $10,000.
 
For local financial companies to claim a significant share of the expanding refi market requires advertising. By any metric, advertising on Fayetteville radio is the most effective way to reach homeowners.
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Topics best way to advertise, radio advertising, refinance, mortgages, mortgage rates, mortgage broker, bank, home owners, advertise on radio, credit union, homeowners

Now Open: Political Advertising Window on Fayetteville Radio

Sep 8, 2020 3:18:12 PM / by Larry Julius

On September 4, the political advertising window opened on Fayetteville radio and area TV stations.  This is a 60 day period leading up to a general election when broadcast stations licensed by the Federal Communication Commission are obligated to offer candidates for national office the opportunity to buy commercials at the lowest unit rate (LUR).

For example, if a high-frequency advertiser like McDonald's earns the lowest rates on a particular Fayetteville radio station during morning drive-time, then any candidate for federal office must, during the 60-day political window, be offered the same rate for morning drive time on that station, regardless of frequency.

If, however, the McDonald's rate is contingent on the radio station's ability to pre-empt commercials without notice, then qualified candidates must agree to identical terms to receive the same rate.

To facilitate the purchase of commercials on Fayetteville radio, stations will supply candidates with a political rate-card.  This card will show the LUR by time of day and by preemption parameters.

Here are other important facts about political advertising on Fayetteville radio.

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Topics issue advertising, political advertising, radio advertising, advertise on radio, advertising on radio, political rates, political rate card, lowest unit rate

Advertising In Fayetteville: OTT & CTV Viewing Soars

Sep 5, 2020 8:17:14 AM / by Larry Julius

Advertising on local television and cable is becoming less attractive to Fayetteville business owners as viewers rapidly defect to alternative video entertainment sources including, Netflix, YouTube, Hulu, Amazon and Disney+.

Collectively these streaming services are referred to as Over-The-Top Television (OTT) and Connected-TV (CTV). Viewers can only access this OTT and CTV content via smartphone, tablets, computers, smart-TVs, Amazon Fire Sticks, and Roku Sticks, Nielsen reports that 94.2% of Fayetteville adults own at least one these devices. Furthermore, they are using them.

According to Nielsen, OTT and CTV networks now reaches 42.3% of all Fayetteville consumers every week.

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Topics television, small business, small business owner, fayetteville television, fayetteville small business owners, best way to advertise, radio advertising, television advertising, small business marketing, pay-TV, cable television, advertise on radio, small business advertising, cable-tv, satellite television, ott, ctv, streaming video

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