Marketron

Category: Retail

Radio Drives Store Traffic

Author: Annette Malave, SVP/Insights, RAB

Consumers today continue to shop and buy at brick and mortar locations, despite the surge of online shopping. In fact, according to a survey released by GroundTruth, a global location tech company, 38% of consumers believe they spend more money in-store.  What influences that spend?  The experience.

According to an article published in Forbes earlier this year, what will be critical for the retail industry is “the customer experience.” The same rings true for automotive.  An Autotrader study found that 54% of consumers would buy from a dealership that offers their preferred experiences, regardless of cost. When it comes to the QSR (quick service restaurant) industry, the experience is key.  The interaction customers have with the employees is just as important as the food that is being served.

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Top 10 Radio Show Takeaways

Photo Credit: RAB/NAB Radio Show 2018

Author: Annette Malave, SVP/Insights, RAB

During the 2018 Radio Show, the overarching theme was about data – demystifying it, understanding where to get and how to use it as well as the opportunities it can create.

In addition, throughout the Radio Show, there was a secondary message: Radio is a strong and nimble medium that continues to evolve, to not only meet but exceed the demands and expectations of its listeners and advertising partners.

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Hispanics – the Fastest Growing
Consumer Market

Author: Annette Malave, SVP/Insights, RAB

$1.5 trillion.  That is the buying power of the Hispanic consumer – the largest minority market in the U.S.  According to the Selig Center for Economic Growth, this group’s economic clout has grown 203% since 2000, which makes it one of the fastest growing consumer markets here in the U.S.  This group represents nearly 18% of the country’s population.

Advertising to ethnic audiences was once considered an afterthought.  However, as the buying power of Hispanic consumers continued to increase, its importance as a target audience for advertisers grew.

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Consumer Market”

Holidays Start with Radio

Thanksgiving’s arrival marks the start of the holiday season and the sounds of holiday music can be heard on the streets, at retail and on the radio, and that’s in part because holiday music is known to improve one’s mental spirits.  Whether it be the positive memories that arise from hearing many of the classic songs or the simple spirit of the season, holiday music gets us in the celebratory mood.

Approximately 240 AM/FM radio stations across the country flip formats to all-holiday music immediately after Thanksgiving. Some start even earlier and the impact of holiday music listening has numerous positive effects of holiday shopping.

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Jewelry Retailers Shine with Radio

During this time of the year, consumers are thinking about gift ideas for their loved ones.  According to a November survey by Prosper Insights & Analytics™, jewelry is on the top ten list of gifts that will be given this year.  It is also one of the gifts that consumers want to receive – 22% of respondents want jewelry as a gift.

Who are these jewelry gift givers?  According to 2017 GfK/MRI data, adults 18+ who purchased a fine jewelry item as a gift for someone else, 81% listen to AM/FM radio. Among those adults who purchased fine jewelry for themselves, 78% are AM/FM radio listeners.

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