U.S. Holiday 2015 Forecast: Things Are Looking Up for the Holidays and This Is an Opportunity for RADIO Advertising to SHINE!
November 12, 2015
Radio and retailers: Get ready to celebrate a very happy holiday season! The 2015 holiday spending forecast is out, and it is predicted that spending levels will be at the highest they’ve been in the past 14 years. A recent report shows that holiday spending in the U.S. will increase by three to four percent, as sales figures are expected to increase from $608 billion in 2014 to somewhere between $626 and $633 billion in 2015. While this growth may be a little lower than what was recorded last year, it is still well within the range of the growth rates recorded each year since 2012.
Here are some key highlights from the recent report released by the National Retail Federation regarding the upcoming 2015 holiday season:
- 3.7 percent. Increase in holiday sales over last year
- $802. Average consumer spending on holiday gifts in 2014
- $31.7 million. Total spending on gift cards in 2014
- 14 percent. Share of toy sales (for boys) grabbed by Lego in 2014
- 20 percent. Share of toy sales (for girls) grabbed by “Frozen”-themed dolls and games in 2014 (dethroning Barbie)
- 42 percent. Share of men who start shopping for gifts in November
- 38 percent. Share of women who start shopping for gifts in November
- 87 million. The number of people who shopped on Black Friday in 2014
- $404. The three-year rolling average spending per customer on Thanksgiving weekend 2014
- $105 billion. Expected online sales during November and December this year
- 127 million. The number of Cyber Monday shoppers in 2014
- 25 million. The number of holiday shoppers who used mobile devices to shop on Cyber Monday
- 90 percent. The portion of online shoppers who list low prices as their top priority
- 33 percent. The number of holiday shoppers who said they shopped on Small Business Saturday in 2014
Retailers are not the only ones who benefit from the holiday season; keep in mind that this is also a great opportunity for radio advertising! The holiday season provides the opening for us to touch base with those prospects who have been on the fence about doing business with us. This gives us yet another chance to attract, engage, and influence advertisers with the message that radio is still relevant and has the power to grow their business and drive traffic into their establishments, given the chance.
-Nicole Somerville, Sales Research Consultant