Can’t you just feel it? Increased sales, pent up demand and the excitement of reconnection with friends and family are bubbling up everywhere, and retail sales grew 23.3% in April.
Marketers that fail to take quick, decisive action in this recovering economy will suffer for it or miss a good opportunity. This is why your clients need to advertise. Stimulus payments, coupled with warmer weather and broader reopening across the country, have set the course for spending and your advertisers need to get in the way of it.
Mastercard Spending Pulse reports that total U.S. retail sales burst into another month of double-digit growth in April. Consider a 23.3% year-over-year increase in retail for this year, and 10.8% compared to April 2019. Online sales in April grew 19.9% and 95.6%, respectively, compared to the same periods.
Retail, travel and automotive opportunity
Restaurants, department stores, apparel, and lodging all show a resurgence that demands attention from your clients if they intend to get a share this renewed spending. Restaurant revenues grew 118.8% vs. 2020, when widespread shutdowns crippled the industry, and were up 5.7% compared to 2019. Department stores doubled their April numbers, while hotels tripled! People are refreshing their look and ready to gather again as shown by a 61.7% increase in apparel spending.
Automotive sales, even with tight supply, recorded a near 90% increase over last April with 640,000 more units sold. This bump didn’t happen by accident. Automakers spent an estimated $238.6 million on TV in April 2021 — an increase of 148% year over year, according to iSpot.tv. Moreover, of the top 20 automakers by national TV ad spend, 17 increased spend by at least double-digit percentage points, with many jumping up by 100% or more.
Health, wellness and the nonprofit opportunity
Health and wellness, both physical and mental, can benefit from the exposure that advertising can provide. The pandemic took its toll in disconnection for many Americans. Among those who say their mental wellness has taken a hit, 57% say they feel disconnected from the things they once enjoyed, and 36% feel out of touch with who they really are. Gyms and yoga, Pilates and spin studios are in a good position to create a message to capture this group of sufferers who may be ready for the brick-and-mortar experience and a break from apps and digital workouts.
Substance abuse prevention and mental and behavior health support systems are in line for government funding. Training and awareness programs will be supported by grants that may need exposure either through partnerships or public awareness programs that can benefit both media and the community. Working through state or local government agencies can generate revenue opportunities on many levels.
Retail Sales Grew 23.3% in April
The American consumer is looking for opportunities to break away from the isolation and confinement of the past year and is eager to spend, especially on those businesses that have suffered restrictions over the past year. Give your clients the opportunity to embrace their customers’ needs and motivations. The profiles in Audiences from AdMall by SalesFuel can identify these opportunities and clarify the message. You can provide solid market information and be the catalyst for increased advertising investment and results for your client. There is no doubt: Now is the time for your clients to rediscover the power of advertising!