Retailers everywhere start planning months in advance for the holiday shopping season – and radio is a great way to reach your potential customers and grow your business! The National Retail Federation (NRF) has predicted a 4.1% increase in retail sales for 2015 compared to 2014.
Radio has always done a great job reaching people on the go. According to the 2015 Infinite Dial study, AM/FM radio is by far the most-used in-car media. This is a huge benefit to advertisers because a radio ad will reach consumers closest to their point of purchase.
On a weekly basis, 95.3% of all Adult 18+ radio listeners in the NY metro have tuned to radio while away from home, accounting for more than two-thirds (67.1%) of all radio listening (Nielsen Audio, Mon-Sun 6A-12Mid, Aug14-Jul15).
When it comes to holiday shopping, nothing compares to Black Friday – so termed for the businesses that operate in the red until then. The NRF reported total spending on “Black Friday Weekend” (Friday through Sunday) last year at $380.95 per person, for a total of $50.9 billion. They further predict 55.1% of holiday shoppers will make purchases over the weekend.
In the NY metro, that works out to 8.1 million folks (55.1% of the NY metro’s Adult 18+ population) spending a total of $3.1 billion in one long weekend. With radio routinely reaching over 90% of consumers each week, advertising on the radio is a no brainer.
The NRF also broke down expected Black Friday Weekend shoppers into three age groups: Adults 18-34, Adults 35-54, and Adults 55+. The 18-34 group exceeds the other groups for planning to shop this weekend. They are 38% more likely than 35-54s and 90% more likely than those 55+ to be out spending their dough. Contrary to popular belief, radio still does a tremendous job of reaching millennials, with 88.6% tuning to radio on a weekly basis and 55.4% tuning in on a daily basis.
There are hundreds of shopping destinations in the NY metro, and we’re out in full force. More than nine out of ten (91.7%) Adult 18+ metro radio listeners have visited a mall or shopping center in the past three months. And, every geographic area of the metro is getting their fair share. For example, 36.1% of Adult 18+ metro radio listeners have shopped at a mall or shopping center in Manhattan in the past three months.
As the internet became a ubiquitous part of American lives, Black Friday gave birth to Cyber Monday, the biggest online shopping day of the year. Over half of Americans are expected to shop online the Monday after Thanksgiving. Cyber Monday online sales increased 6.8% from 2013 to 2014, totaling $101.9 billion nationally. (IBM’s Online Retail Holiday Readiness Report)
Nearly three-quarters (72.7%) of Adult 18+ metro radio listeners have shopped for items on the internet in the past year, and 70.7% of the same group have made a purchase online. That means that 97% of people who shopped online made a purchase. Use radio to drive cyber-consumers to your site!
Also, those spending the most on internet purchases are heavier radio listeners. For example, 45.3% of metro Adults 18+ who have spent $2,500 or more on internet purchases in the past year fall into the two highest quintiles for radio listening, compared to only 30.1% for TV. And, nearly half (49.2%) of these consumers are light TV viewers (two lowest quintiles).
The NRF study also revealed when people plan to shop over the course of the day on Cyber Monday. Early morning ranked highest, followed by late morning and early afternoon. Radio’s reach is strong throughout the day.
Again, radio reaches people on the go, and radio listeners love to shop on mobile devices. IBM reports that half of all traffic to retail sites occurs on mobile devices. Radio’s weekly reach remains over 90% for those using the internet or apps for shopping on various devices.
So, the holidays are almost upon us with their two-word attention-grabbing ad headlines – Black Friday! Cyber Monday! Holiday Shopping! Big Discounts! When it comes to the holiday season – or any time for that matter – you only have a limited time to get someone to notice your product. So here’s our own two-word attention-grabbing headline for the holiday shopping season: RADIO SELLS!
- Nielsen Audio/Scarborough, NY Metro
- National Retail Federation 2014 Holiday Consumer Spending Survey
- IBM’s Online Retail Holiday Readiness Report
- Edison Research & Triton Digital, The Infinite Dial 2015