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Las Vegas Retail Boom: How Your Small Business Can Benefit

Feb 28, 2020 5:32:50 PM / by Larry Julius

Advertising In Las Vegas Retail SalesRetailers in Clark County rang-up $45,669,580,000 in retail sales last year, according to Nielsen. But wait. It's about to get better.

The National Retail Federation forecasts that in 2020, sales will increase by as much as 4.1%. This will create another $1.9 billion for local small business owners.  

“The economy is growing at a more modest pace, but the underlying economic fundamentals remain in place and are positive,” stated NRF chief economist Jack Kleinhenz. “Consumers remain upbeat and have the confidence to spend, and the steady wage growth that has come with the strong job market is fueling their spending. The state of the consumer is very healthy.

To claim a fair share of this enlarged pool of spending will require Las Vegas small business owners to advertise.

“Think you have a great product?” asks the U.S. Small Business Administration. “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."

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A study by Nielsen of effective advertising campaigns revealed that reach was the media element that produced  the greatest lift in sales. Reach is defined as the number of different people who are exposed to an advertiser's message.

Of all media options available to Clark County retailers, the best way to achieve reach is by advertising on local radio.

Every week, nearly 90% of all adult consumers tune-in to a Las Vegas radio station. This is significantly more than are reached by local TV, social media, newspaper, or streaming media sites like Pandora and Spotify.Advertise In Las Vegas Media Reach (2020)

This is especially true among millennials in Las Vegas, who account for 30% of all retail spending. Despite some misconceptions, local radio reaches more members of this generation every week than all other media.

Advertising In Las Vegas Used Vehicle SalesIf a local retailer owner chooses not to advertise, then they do so at considerable financial peril. Based on business category, here is how many more dollars Las Vegas consumers will spend this year versus last year:

  •  Furniture & Household Appliance Stores: $20,838,360
  •  Radio, TV & Other Electronics Stores: $29,792,160
  •  Department Stores: $38,795,160
  •  Building & Material Supply: $68,399,680
  •  Health & Personal Care: $95,704,560
  •  Grocery Stores: $171,270,040
  •  Clothing & Accessories: $179,806,080
  •  General Merchandise: $182,454,520
  •  Food & Beverage Stores: $186,956,000
  •  Food Services & Drinking Establishments: $317,629,600
  •  Motor Vehicle & Parts Dealers: $335,691,800

More Advertising Advice For Las Vegas Small Business Owners

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Topics: reach, small business owner, television advertising, radio advertising, millennials, pandora, spotify, online advertising, digital advertising, newspaper advertising, retail, store traffic, best way to advertise, consumer spending, small business, retail sales

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