“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 Reosttail 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, Philadelphia area parents are expected to spend a record $710,601,187 to prepare more than 780,500 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 Philadelphia area will be on:

• Clothing: $260.2 million
• Shoes: $205.4 million
• Supplies: $133.3 million
• Electronics: $111.2 million

In addition to expenditures for K-12,  $1.6 billion is expected to be spent in the Philadelphia 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 Philadelphia area college students in 2023 will include:

• Electronics: $397.2 million
• Dorm/Apartment Furniture: $224.3 million
• Clothing: $214.1 million
• Food Items: $178.1 million

In order to capture the largest portion of this record back-to-class cash, Philadelphia 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, 3.7 million Philadelphia area consumers are expected to spend a record $482.3 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  80% of all Father's Day spending will be concentrated into four gift categories:

• Special Outing: $164.2 million
• Clothing: $73.7 million
• Gift Cards: $58.9 million
• Electronics:  $54.7 million
• Personal Care: $35.8 million

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

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

Mother's Day is On May 14th this year. According to per capita data from The National Retail Federation, 3.7 million adult consumers in the Philadelphia area plan to celebrate the occasion.

Between now and that special Sunday in May, the NRF expects a record $751.9 million to be spent in Philadelphia 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, Philadelphia 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 Philadelphia area will fall into three categories:

1. Jewelry: $164,270,763
2. Special Outing: $117,937,983
3. Electronics: $84,241,417

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

Despite high-interest rates, inflation, and recession fears, Philadelphia area consumers are expected to spend between $108.1 and $110.1 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 Philadelphia 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 $10.8 billion dollar outflow.

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

More than 3.5 million Philadelphia area consumers are expected to celebrate Easter in 2023, according to per capita forecasts from The National Retail Federation. In all, the NRF predicts $505 million will be spent this year.

Not only will spending on Easter in Philadelphia top last year's take by 16%, but it will also blow past the spending record of $457 million set in 2021.

“Easter endures as an important holiday for many Americans, signifying new beginnings and a time of celebration with friends and family,” NRF President and CEO Matthew Shay said. “As consumers plan to mark the occasion through a variety of traditions, retailers are dedicated to making this year a memorable holiday.”

According to the NRF forecasts, here's how Philadelphia consumers are expected to spend their Easter Holiday cash:

• Food: $153.7 million
• Clothing: $84.2 million
• Candy: $80.0 million
• Gifts: $69.4 million
• Flowers: $37.9 million
• Decorations: $36.8 million
• Greeting Cards: $21.0 million
• Other: $18.9 million

There is one obstacle, however, between small business owners and this gargantuan pool of Easter cash.

According to the NRF, the vast majority of Easter shopping will be spent at discount stores, box stores, and online. Only 22% of spending will occur at local small businesses.

 

To Keep more of this cash in the Philadelphia area, retailers will need to advertise to convince consumers of the values and benefits of buying from local small business owners.  According to most marketing metrics, the best way to advertise in Philadelphia is on local radio.

Over the next 12 months, according to Nielsen, 671,614 Philadelphia area households plan to buy furniture and mattresses. Based on a per capita forecast from Furniture Today, these expenditures will total $2.13 billion during 2023, a $38.7 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 Philadelphia radio.

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

Based on per capita spending forecasts from the National Retail Federation (NRF), Philadelphia area consumers are expected to spend $435.8 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."

Every week, according to new Nielsen data, 3,667,169 adults tune in to a Philadelphia radio station. This is more consumers than use social media, access local cable, watch broadcast TV, stream video channels, listen to streaming audio, read a newspaper, or download a podcast.

Based on per capita estimates from the National Retail Federation (NRF), Philadelphia consumers are expected to spend between $83.2 and $84.8 billion at retail in 2022, a six to eight percent growth over the previous year. Utilizing radio's enormous advertising reach, local business owners can compel shoppers to spend this large pool of cash in their stores and on their websites.

The number of consumers reached is critical to the success of an advertising campaign.

According to a Nielsen study, after the actual content of the commercial message itself, reach is the most potent advertising element that can drive sales. Reach is more important than brand, recency, or even context. Philadelphia radio provides local business owners with the most significant reach among consumers.

Each week according to Nielsen, 3.6 million consumers tune in to a Philadelphia radio station. This is significantly more adults than watch local TV stations, cable, or streaming video. It is more than browse social media. It is more than listen to streaming audio services or podcasts. It is more than read local newspapers.

There are two traits Philadelphia radio listeners have in common. First, they are very loyal to their favorites, tuning-in to, on average, only 2.9 different stations each week.

Second, and of particular importance to Philadelphia small business owners, radio listeners are returning to 'normal' at a faster rate than the general population after more than two years of pandemic.

Since the onset of the COVID-19 crisis, Nielsen has been measuring consumer sentiment in regard to normal behaviors. In a survey conducted in March of this year, 83% of adults say they are "ready to go and feel life is becoming more normal". This is up dramatically from the same time last year.

Eighty-four percent of all adults say they will celebrate Mother's Day in 2022. Based on per capita forecasts from the National Retail Federation (NRF), Delaware Valley consumers are expected to spend $528 million on the moms in their lives. This is a 13% increase over last year.

“Consumers are eager to find memorable ways to honor their mothers and other important women in their lives and are willing to spend a little extra on this sentimental holiday,” said NRF President and CEO Matthew Shay.

The NRF spending projections indicate that Philadelphia consumers will spend $116.2 million on jewelry and another $87.9 million on special outings such as dinner or brunch. This will be the highest level of Mother's Day spending ever in these categories.

Here is how this large pool of Mother's Day cash in Philadelphia is expected to be distributed by all retail categories.

The NRF research indicates that men will outspend women 3-to-1 this year on Mother's Day gifts. Most of these dollars will go towards presents for their moms, stepmoms, and wives.

Of all the money spent, Philadelphia consumers are expected to spend 36% online, 30% at department stores, 27% at specialty stores, and 23% at local small businesses.

To compete for a share of record-high Mother's Day spending this year, local business owners will need to advertise. By most key marketing metrics, the best way to reach holiday shoppers is by advertising on Philadelphia radio.