What’s in Your Wallet? My Tax Refund!
February 11, 2016
The IRS reports that U.S. residents received over $306 billion in tax refunds last year. In fact, 73% of tax returns processed yielded a refund. That means that nearly three-quarters of the taxpayers in your market will be walking around with an average of $2,797 in their pockets pretty soon. How do you reach them? RADIO!
According to the National Retail Federation’s annual Tax Returns Survey, Americans plan to spend their tax refunds on a variety of things.
Nearly half of the Adults 18+ in the U.S. plan to put at least some of their tax refund into savings. Check out how radio performs in these financial categories.
13% of U.S. Adults 18+ plan to fund a vacation with their tax refund. Each week, radio reaches 92% of households that used a travel agent in the past year. Radio’s reach is even higher in this category with African Americans and Hispanics!
11% of U.S. Adults 18+ plan to spend tax refunds on a major purchase like a TV, furniture, or car. Radio is a great medium to reach these types of consumers as well.
Now the fun stuff! 10% of U.S. Adults 18+ plan to splurge on things like dining out, apparel, or a salon/spa visit with their tax refund. Check out how radio once again reaches these target consumers.
As consumers are coming into extra money, dig into your qualitative data and show advertisers why radio is an ideal medium for a successful advertising campaign this tax season!
-Anne Doyle, Production Manager