There are 69,498  small businesses in the Las Vegas-Henderson-Paradise, NV Metro Area, according to the U.S. Census Bureau. Almost every one of these businesses is competing for a portion of the $45.1 billion of local retail spending expected to occur in 2023.*

To capture the largest share of this giant pool of consumer cash, Las Vegas small business owners will need to consider advertising.

"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. Advertising, if done correctly, can do wonders for your sales., and you know what that means: more revenue and more success for your company."

One of the best ways to advertise in Las Vegas may be on local radio, a fact not lost on the world's largest advertiser, Proctor & Gamble. Last year, P&G upped spending on the radio by 43% to $235 million, according to Vivvix (formerly Kantar Media), led by a big jump in local radio.

Economic concerns among Las Vegas area consumers are not expected to subdue holiday shopping in in 2022.  Based on forecasts from The National Retail Federation, local shoppers are projected to spend at least $6.6 billion this year. This would be 6% more than was spent in 2021.

“While consumers are feeling the pressure of inflation and higher prices, and while there is continued stratification with consumer spending and behavior among households at different income levels, consumers remain resilient and continue to engage in commerce,” NRF President and CEO Matthew Shay said. “In the face of these challenges, many households will supplement spending with savings and credit to provide a cushion and result in a positive holiday season.”

The biggest challenge facing Las Vegas business owners is keeping holiday spending local. NRF expects 10-12% of purchases to happen online from retailers like Amazon and Walmart.

To lay claim to this expanding pool of holiday spending,  and keep business local, small business owners will need advertising. By, most marketing metrics, the best way to advertise is on Las Vegas radio.

Local business owners have been advertising on Las Vegas radio since KGIX first signed-on in 1930.  But, back then, there were only two options for reaching a mass audience: newspapers and radio.

Today, though, advertisers have an over-abundance of marketing options both over-the-air and online. But every week, according to Nielsen, 1.5 million adults listen to a Las Vegas radio station, giving the 101-year-old medium, by far, the biggest reach amongst local consumers.

A new report released last week by Nielsen underscores AM/FM radio's durable reach among all media.

To ensure success, every Nevada business owner needs to advertise.

"Think you have a great product?" asks the US 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.”

There are dozens of ways for local small business owners to advertise. By most metrics, the best way to advertise is on Las Vegas radio. These measures of effectiveness, however, are often obscured by the glimmer and glitz of newer technologies. 

To help reduce the glare that often blinds business owners to the potency of advertising on Las Vegas radio, here are the top five things many local business owners get wrong.

Based on projections from the National Retail Federation (NRF), Las Vegas consumers are on track to spend $31.7-billion with retailers by the end of this year. This would be 13.5% higher than was spent in 2020.

To earn a significant share of these retail dollars, Las Vegas area business owners are expected to spend $775-million to advertise by year's end, according to Borrell Associates. This company tracks advertising expenditures in local markets across the U.S.

To ensure they are spending their advertising and marketing dollars wisely, many Las Vegas business owners research how to best target prospective customers by using local media. An exceptional resource for local business owners to investigate the media habits of localconsumers is on the advice section of AdvertiseInLasVegas.com.  

Here are the top five most-read articles on the site in 2021:

Since 1930, advertising on Las Vegas radio has helped small business owners survive and thrive during times of peril. This includes world wars, natural disasters, depressions, and recessions.

Even during a pandemic, by almost every key marketing metric, radio advertising remains the best way for a Las Vegas business to market its goods and services.

To prove the point, here are five statistics that vividly demonstrate the value of advertising on Las Vegas radio.

There are 908,100 adult women in the Las Vegas area. Based on research from the Harvard Business Review, as a consumer group, females account for 70-80 percent of all consumer purchasing through a combination of their buying power and influence.  According to Nielsen, this will amount to between $33.2 billion and $37.9 billion this year.

Overall, according to the Bureau of Labor Statistics and the US Census Bureau:

• Single women across all income brackets spend, on average, $34,817 on goods and service
• Working married women contribute over a third of their families’ incomes
• Over a quarter (29.4%) of wives earned more than their husbands in 2018, an increase from 15.9% in 1981.

Furthermore, according to research published by Forbes:

• The top homebuyers after married couples are single women (18%, double the percentage for single men at 9%).
• Women are 50% more likely than men to regularly watch online how-to videos.
• 94% of women between the ages of 15-35 spend over an hour per day shopping online.
• 70% of travel consumers are women.
• 85% of women say that if they like a brand, they will remain loyal to it.

For Las Vegas small business owners to successfully capture a meaningful share of the local female economy requires advertising.

Las Vegas's first radio station, KGIX-AM, began broadcasting in 1930.  The process of getting the station's programming from the studio into the home of local listeners required tall-transmitting towers with miles of underground copper wire in the middle of massive fields.

For the next 63 years, this massive investment in real estate, steel, and cooper was the only method of delivering a radio advertiser's message into the ears of Las Vegas consumers.

In 1993, however, new technology permitted Las Vegas radio stations to augment the reach of their tall towers by simultaneously streaming its over-the-air programming via the internet. This provided local consumers with the choice of listening to their favorite stations on their car radios, clock radios, and boom boxes or on an internet connected devices like computers, smartphones, or tablets.

Today, based on estimates from Edison Research, 11% of listening to local radio stations occurs on a streaming media device.  The ability for AM/FM to migrate from their tall towers to internet streaming allows Las Vegas radio to reach more local consumers every week than all other media.

In 1920, the few Las Vegas residents who owned a homemade crystal radio set might be able to tune-in KHJ from Los Angeles, one of the first stations in the western U.S.

From that time, many predicted radio's success would succumb to advances from new technologies. In 1927, the challenge came from talking movies. In the 1940s, the predators were 13-inch TV sets. In the 1970s, it was 8-track and cassette tapes. In the past 20 years, there was a multi-flank attack from iPods, Zunes, YouTube, Sirius, XM, Pandora, Spotify,

So far, all of these challengers have failed. Not even a pandemic has been able to remove radio as a vital force in the life of Las Vegas consumers.

Every week, according to Nielsen, more adults tune-in to Las Vegas radio than watch TV or cable. Use social media platforms like Facebook or Instagram. Read newspapers. Or, stream music from Pandora or Spotify.

There are 370,000 adults in the Las Vegas area who have earned a four-year college or postgraduate degree, according to research from Nielsen. A study from the Federal Reserve indicates that these educated consumers have been least affected by the economic consequences of the pandemic.

"While the labor market disruptions have affected workers in a wide set of industries and occupations, those without a college degree have experienced the most severe impact," say Mary C. Daly, Shelby R. Buckman, and Lily M. Seitelman authors of The Unequal Impact of COVID-19 in the Economic Letter published by the Federal Reserve of San Francisco.

Although the unemployment rate increased among consumers of every education level in late March when the Governor of Nevada locked down the state to slow the spread of the Coronavirus, the smallest increase was among those with bachelor or postgraduate degrees, according to the Bureau of Labor Statistics..

Seven months later, job recovery among those with college degrees is closer to pre-pandemic levels than consumers with lower levels of educational attainment.

Many small business owners have seen the correlation between advertising and survival during the economic crisis inflicted by the pandemic.  With precious few dollars to invest, it is crucial that every advertisement reaches consumers who have disposable income to buy. Right now, the most likely spenders are customers with college degrees.

By key advertising metrics, the best way to reach consumers with higher education is on Las Vegas radio.