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

Oct 20, 2020 9:07:09 AM / by Larry Julius

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

There are just over 230,000 small businesses in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 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 Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Millennials, roi, return on investment, retail, consumer spending, small business owner, small business, Retail Sales, retailer, retail stores, small business marketing, millennial parents, consumer confidence, purchase intent

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