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How Much Do Philadelphia Business Owners Spend on Advertising?

Apr 16, 2021 9:49:16 AM / by Larry Julius

Now is a crucial time for Philadelphia small business owners to advertise.  

According to the Conference Board, consumer confidence has surged to 110, the highest it has been since the onset of the pandemic last March.  The index has bounced back from a low of 89.6 in February. 

Moving forward, Delaware Valley business owners can expect buyer optimism to remind high.

“The recovery in consumer confidence is set to continue in the coming months, buoyed by the combination of improving health conditions and wider vaccine distribution,” said Lydia Boussour, lead U.S. economist at Oxford Economics. “This should support hearty consumer spending and pave the way for a mini-boom in economic activity this spring and summer.”

As Philadelphia consumers gain confidence, they are expected to unleash the record $17.9-billion in personal savings amassed during the pandemic. This number is based on figures reported by Barron's in November. 

This combination of consumer confidence and the cache of cash-on-hand has led the National Retail Federation (NRF) to forecast a 7% increase in retail spending in 2021 versus last year.

To claim a significant share of the expected spending tsunami, Philadelphia business owners plan to boost advertising investments this year.

According to Borrell Associates, a company that tracks advertising trends across the country, Philadelphia business owners are expected to spend $3.6 billion to advertise the goods and services they sell. This represents a 7.0% increase versus last year.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Best Way To Advertise, roi, return on investment, small business owner, radio advertising, small business, advertising on a budget, reach, reach and frequency, small business marketing, best way to advertise in philadelphia, ad spending

Advertising On A Budget? Why Philadelphia Radio Makes Sense.

Nov 26, 2019 1:40:39 PM / by Larry Julius

Over the next 12 months, Delaware Valley  consumers are expected to spend $103.4 billion at retail.  To capture a larger share of this cash,  local small business owners should consider advertising.

The US Small Business Administration recommends that every SWFL small business advertise consistently.  “Think you have a great product?” asks the SBA. “Unfortunately, no one’s going to know about it unless you advertise.”  The SBA goes on to say, “Advertising, if done correctly, can do wonders for your product sales, and you know what that means: more revenue and more success for your business."

Local business owners have depended on Philadelphia radio advertising to market their goods and services since 1922. That's the year three local retailers each put a Philadelphia radio station on the air.  These included John Wanamaker's WOO, Strawbridge & Clothier's WFI, and Gimbel Brothers' WIP.

Today, Philadelphia radio, by any key advertising metric, is still the best way for business owners to reach local consumers.

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Topics Best Way To Advertise, Co-op, Cooperative Advertising, Dayparts, Time of Day, commercial length, best time to advertise, radio advertising, advertising on a budget, philadelphia radio, indexing

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