While broadcast radio stations and their advertising clients face tough economic headwinds as we approach the 2020 holiday shopping season, a new study released by Jacobs Media finds opportunities for the medium to be a key resource for local businesses.
“Radio's 2020 Holiday Road Map” surveyed over 27,000 core radio listeners from 355 commercial radio stations across the US and Canada from September 29-October 1. The study reveals this holiday season will be like no other. It was conducted in partnership with the Radio Advertising Bureau.
“The holiday season usually has a typical rhythm that families, businesses, and radio stations plan around,” observes Jacobs Media’s President Fred Jacobs. “But it’s clear that in order to be successful, radio stations and their national and local clients will need to explore new approaches in 2020. Consumer patterns and perceptions about shopping have changed. The good news is radio remains a powerful partner to local business.”
This new study reveals that unlike past years, this holiday season is not likely to feature a huge retail spike on Black Friday. In fact, early holiday shopping has already begun, creating the necessity for businesses to begin their ad spending early, and ramping it up after the Thanksgiving holiday:
Radio holds a unique position in its ability to drive audiences to local businesses. While the survey finds four in ten (42%) plan to spend less money this holiday season than last, eight in ten (79%) agree or strongly agree with the statement: “For my holiday shopping this year in particular, I feel I should support local/small businesses in my area.”
“Radio salespeople are going to have to work harder and more creatively than ever this holiday season,” remarks Paul Jacobs, Vice President/General Manager of Jacobs Media. “But this study provides a playbook, not only for them, but also for local businesses. This is a collaborative moment. Armed with this data, salespeople will be well-positioned to not only share their audience information, but also help clients find the best ways of being successful this holiday season.”
“Radio has traditionally closed out the last quarter of the year with strong revenues and we want to help broadcasters ensure similar results even in a different looking holiday shopping season,” said Erica Farber, President and CEO, RAB. “This very timely listener insights study, reflecting the current consumer mindset, will help enable broadcasters to provide local clients with incredible insights into their customers' intended holiday spend, while providing strategies for their holiday advertising plans.”
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