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How Las Vegas Small Business Owners Can Boost 2020 Holiday Sales

Sep 25, 2020 4:30:16 PM / by Larry Julius

Las Vegas area shoppers are expected to spend over $7.9 billion during this year's November-January holiday season. This estimate is based on a forecast issued last week by Deloitte, the world's largest business accounting firm.  This spending represents a 1-1.5% increase  versus the same period last year.

How can Las Vegas small business owners best compete for a significant share of the 2020 holiday expenditures?

"Retailers who prioritize customers’ desires for a safe, efficient shopping journey will be the big winners this year," writes Sean Gundz on www.ChainstoreAge.com.

"The holiday season is always a stressful time for retailers, especially the ones that make the majority of their revenue in the short window between Thanksgiving and Christmas," says Mr. Gundz. 

"Within this window is Black Friday, which, along with other big holiday sales events, are going to look a lot different this year. Retailers must accommodate COVID-19 mandates that enable social distancing, minimize surface touching, and actually restrict foot traffic in their facilities. All while trying to optimize sales."

Mr. Gundz says there is no single way to deal with the challenges facing retailers this holiday season. He does offer five tips, though, that every Las Vegas retailer can employ.

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Topics return on investment, small business advertising, small business owner, las vegas small business owner, retail, holiday, christmas shopping, holiday shopping, small business, retail sales, retail stores, retailer, small business marketing, holiday advertising

Las Vegas Retailers Expect Sweet Halloween In 2020

Sep 22, 2020 3:03:15 PM / by Larry Julius

Clark County consumers are expected to spend $59 million on Halloween related activities in 2020, according to information from the National Retail Federation.  This would be a slight 2.3% decrease from 2019. This is proof of the holiday's strong resistance to the pressures of a pandemic economy.

Based on data from the NRF's annual survey conducted by Prosper Insights & Analytics, more than 1.1 million Las Vegas adults plan to participate in Halloween-related activities. Among those celebrants, safe at-home activities ranked highest: 53 percent plan to decorate their homes, 46 percent plan to carve a pumpkin, and 18 percent will dress up their pet.

“Consumers continue to place importance on celebrating our traditional holidays, even if by untraditional standards,” NRF President and CEO Matthew Shay said. “Retailers are prepared to meet the increased demand for seasonal décor, costumes, and other items that allow families the opportunity to observe Halloween safely.”

To earn a large share of Halloween spending in 2020, Clark County small business owner will need to advertise to let consumers know their stores are open, stocked, and ready. By any metric, advertising on Las Vegas radio is the best way to reach holiday shoppers.

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Topics small business advertising, small business owner, millennials, las vegas small business owner, advertise to mothers, advertise to working women, retail, halloween, holiday, small business, children, parents, millennial parents, retail sales, retail stores, retailer, small business marketing, holiday advertising

Las Vegas Small Business Update: Auto Parts Sales Accelerate

Sep 18, 2020 5:10:21 PM / by Larry Julius

There are more than 1,400,000 vehicles registered in the Las Vegas area. Many need new windshield wipers, shocks, struts, brakes, air filters, ignition coils, and the hundreds of other items that fill the shelves of local auto part dealers.

Despite the pandemic induced slowdown, business at auto parts stores has grown nearly 13% since February, according to the US Census Bureau.

This explosive growth in auto parts sales directly relates to the  average age of cars on Las Vegas's roads.

"Per the latest study from IHS Markit, the current combined average age of vehicles has hit a record of 11.9 years," Rimmi Singhi wrote this week on NASDAQ.com. "The aging vehicles are a boon to auto parts, replacement, and repair companies. In a bid to ensure long-term functioning of the aging vehicle population, customers are making investments to replace faulty vehicle parts and components."

Also contributing to the rapid aging of cars on the road is the current demand for used versus new vehicles. According to the Bureau of Economic Analysis, the personal consumption expenditures (PCE) for used cars is 25% higher in August than it was during the same month last year.

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Topics small business advertising, radio advertising, las vegas small business owner, effective radio advertising, retail, best way to advertise, small business, used cars, used trucks, used vehicles, retail sales, retail stores, retailer, small business marketing, auto parts

Advertising In Las Vegas: OTT & CTV Viewing Soars

Sep 4, 2020 4:52:34 PM / by Larry Julius

Advertising on Las Vegas television and cable is becoming less attractive to local business owners as viewers rapidly defect to alternative video entertainment sources including, Netflix, YouTube, Hulu, Amazon and Disney+.

Collectively these streaming services are referred to as Over-The-Top Television (OTT) and Connected-TV (CTV). Viewers can only access this OTT and CTV content via smartphone, tablets, computers, smart-TVs, Amazon Fire Sticks, and Roku Sticks, Nielsen reports that 92.7% of Clark County adults own at least one these devices. Furthermore, they are using them.

According to Nielsen, OTT and CTV networks now reach 44.8% of all Las Vegas consumers every week.

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Topics small business advertising, small business owner, television advertising, las vegas small business owner, best way to advertise in las vegas, advertise on las vegas TV, best way to advertise, small business, television, pay-TV, cox cable, cable TV, advertise on radio, small business marketing, Streaming Video, OTT, CTV

B2B Advertising In Las Vegas: Reaching The Decision Makers

Aug 27, 2020 1:32:29 PM / by Larry Julius

New data from the US Census Bureau has optimistic news for Clark County companies that sell business-to-business.

There are approximately 44,500 business establishments in the Las Vegas area, according to the Census Bureau. Indeed, many of these businesses have suffered since the onset of the Coronavirus, especially in April.

Census information is now showing positive indicators that the fortunes of area companies are improving. This includes those with 500 or fewer employees. These small businesses account for 95% of all Las Vegas area firms.

During the week of April 39% of Las Vegas area small businesses reported temporary closures.  By July 1, the number dropped to 19%

Also, during that same week, 72% of Las Vegas small business owners were reporting decreases in revenue versus the prior week.  By the end of last week that number fell by over half.

In both June and July of this year, national data shows all retail and food services spending significantly outperformed the prior year by between two and three percent.

As the business climate improves in the Las Vegas area, the fortunes of B2B companies will accelerate as well. These include those businesses that sell office supplies, restaurant supplies, cleaning services, legal services, accounting services, transportation services, banking services, technology, and commercial real estate.

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Topics return on investment, roi, small business advertising, small business owner, las vegas radio stations, las vegas small business owner, best way to advertise in las vegas, best way to advertise, small business, advertise on radio, small business marketing, business to business, b2b

What Is The Best Way To Reach The 1.8 Million Consumers In Las Vegas

Aug 17, 2020 4:44:35 PM / by Larry Julius

Despite all of the media options available for small business owners to market their goods and services, advertising on Las Vegas radio is still the best way to reach Clark County consumers.

Adult consumers are spending 741 minutes per day consuming electronic media, according to a new study by Nielsen.  This is 7.8% more time than they spent last year and 11.2% more than in 2018.

The typical daily media diet consists of radio, live TV, time-shifted TV, DVD/Blue-ray devices, game consoles, internet-connected devices, as well as internet via computers, smartphone apps, and tablet apps.

According to Nielsen, despite all of these media options, local radio reaches the most consumers every week.

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Topics reach, return on investment, roi, small business advertising, small business owner, radio advertising, las vegas small business owner, effective radio advertising, radio commercials, retail, best way to advertise, reach and frequency, small business, retail sales, retail stores, retailer, advertise on radio, small business marketing, effective advertising, advertising reach

What Las Vegas Consumers Need To Know Now About Your Small Business

Aug 12, 2020 11:13:29 AM / by Larry Julius

There is good news for Las Vegas retailers and restaurants.

As a result of the pandemic, one-third of consumers indicate they will pay a premium for local brands and products, according to a recent study by Ernst & Young

However, before consumers will buy from a local business in Henderson, North Las Vegas, Summerlin, or any town in-between, they must know they can do so without risking their health.

Advertising is the only practical way to let Clark County shoppers and diners know about the precautions and practices your small business has taken to reduce potential health threats.

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Topics small business advertising, small business owner, las vegas small business owner, best way to advertise in las vegas, effective radio advertising, radio commercials, restaurant, restaurant marketing, restaurant advertising, retail, best way to advertise, small business, retail sales, retail stores, retailer, small business marketing, writing radio commercials, effective advertising

Advertising In Las Vegas: Radio Listening Little Changed From Year Ago

Aug 10, 2020 10:01:00 AM / by Larry Julius

During July, 1.4 million adult radio-listeners spent two hours per day listening to their favorite Las Vegas radio stations, according to Nielsen. Although local consumers had spent fewer minutes listening at the onset of the pandemic, the current time tuned-in remains little changed compared to a year ago.

Some advertising experts had predicted that as consumers spent more time at home because of COVID-19 concerns, the hours devoted to radio listening would decrease. That, however, was not the case.

In July of 2019, according to Nielsen, 66.7% of listening to Las Vegas radio occurred away from home. During July of this year, out-of-home listening remains virtually unchanged.

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Topics small business advertising, small business owner, radio advertising, pandora, spotify, las vegas small business owner, sirius/xm, best way to advertise, small business, corona, coronavirus, covid 19, advertise on radio, small business marketing, podcasts, pandemic

Advertising On Las Vegas Radio Reaches Cable-TV's Cord Cutters

Jul 30, 2020 5:48:41 PM / by Larry Julius

More than one-third of Clark County households are 'cord-cutters' or 'cord-nevers'. This means, they have fired their cable or satellite television providers or never subscribed at all. Instead, these consumers are choosing to find their video entertainment elsewhere.

The number of local homes that subscribe to pay-TV services began plummeting in 2013. New technologies has allowed viewers to bypass cable and satellite for more compelling content at lower prices. These cord-cutters now depend on services like Netflix, Hulu, Disney+, and Amazon Prime to fill their multiple screens.

For many years, Nevada small business owners have been investing a significant portion of their advertising budgets into cable-TV.  The medium had proven to be a low-cost, high-reach alternative to buying commercial on over-the-air television stations. 

Now, because of cord-cutting, there are 611,000 adult consumers in Las Vegas with unconnected TVs. This profoundly diminishes the value proposition of advertising with local cable systems.

There is a powerful and affordable solution, however, for small business owners to reach both the diminishing cable audience and the expanding number of cord-cutters.

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Topics small business advertising, small business owner, television advertising, radio advertising, las vegas small business owner, advertise on las vegas TV, effective radio advertising, best way to advertise, small business, television, pay-TV, cox cable, cable TV, advertise on radio, small business marketing, cord-cutter, cord-never, satellite TV

Las Vegas Retailers Prepare For $235 Million Back-To-School Season

Jul 23, 2020 11:13:38 AM / by Larry Julius

Based on projections from the National Retail Federation, Clark County parents are expected to spend $235 million to equip K-12 kids for the upcoming school year. If so, then this shopping spree will be 29% bigger than last year's and the biggest take since 2012.

“By any measure, this is an unprecedented year with great uncertainty, including how students will get their education this fall whether they are in kindergarten or college,” NRF President and CEO Matthew Shay says.

“Most parents don’t know whether their children will be sitting in a classroom or in front of a computer in the dining room, or a combination of the two. But they do know the value of an education and are navigating uncertainty and unknowns so that students are prepared."

Along with pencils, paper, pens, and knapsacks, the NRF survey says 63 percent of K-12 families expect to buy computers and other electronics this year, up from 54% last year, and they expect to spend more at an average $274.44, up from $203.44 last year. The $71 difference accounts for the largest share of the overall increase in average spending of almost $93.

Also, because many parents are unsure if learning will take place at school or at home, back-to-school spending this year is expected to include home furnishings such as desks, chairs, and lamps.

To claim a meaningful share of this year's booming back-to-school economy, local retailers will need to advertise to let parents know that their stores are open, it is safe to shop, and the needed supplies are in stock.

By any metric, the best way to reach these parents is on Las Vegas radio.

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Topics small business advertising, small business owner, radio advertising, millennials, las vegas small business owner, effective radio advertising, back to school shopping, retail, store traffic, small business, millennial parents, retail sales, retail stores, retailer, advertise on radio, small business marketing

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