Despite the political turmoil in Washington, our economy continues to roar along. The National Retail Federal has just announced that March retail sales were up 0.8% unadjusted year-over-year. This increase came despite the fact that two spring spending holidays, Easter and Passover, took place in later April this year.
Overall, NRF analysts believe retail sales will increase between 3.8% and 4.4% to more than $3.8 trillion this year. This figure doesn’t include automobile dealers, gasoline stations and restaurants. March spending at online and other non-store sector experienced a 9.2% increase over the previous year. Spending at health and personal care stores increased 1.6% over March 2018.
“March’s numbers are very encouraging and set the stage for improved expectations for the economy in the coming months, especially since the first quarter is typically weak,” NRF Chief Economist Jack Kleinhenz said.
Earlier this month, TD Bank released a survey indicating that 54% of small businesses expect a revenue increase in 2019. SMB owners know that the local community contributes to their success. That’s why 40% live in the area where they run their business. In addition 32% participate in local charity events.
If you’re working with clients who want to show their softer side, talk with them about joint advertising campaigns with events they are sponsoring. Several AudienceSCAN profiles in AdMall from SalesFuel contain great information on how your clients can connect with consumers who support charities and volunteer organizations.
As sales increase for your SMB clients, they’re also experiencing a wave of online reviews. A Bank of America survey found that 54% of SMB owners have encountered a negative online review about their business. You can help your SMBs manage this problem efficiently if you sell them a digital services package.