The National Retail Federation is projecting 158 million Americans will shop Dec. 23, the last Saturday before Christmas this year. NRF's long-range forecast for the holiday season is that retail sales from Nov. 1-Dec. 31 will see a 3-4% lift vs. 2022, resulting in record total sales between $957.3 and $966.6 billion. A new survey of 1,000 adults across the U.S. shows that radio listeners are more likely to be among those inserting and swiping their credit cards here in the holiday shopping homestretch.
For its 2023 Holiday Shopping Study, Katz Radio Group compared the shopping behavior and spend levels of regular radio listeners – consumers who tune into AM/FM radio at least a few times each week – with those of the average adult and to light and non-listeners of radio.
According to the rep firm’s survey, 85% of regular radio listeners participate in the winter holiday season. And when it comes to holiday purchases, they have more robust shopping lists than other consumers.
The Katz survey data show one in five (21%) regular radio listeners feel that they do "a ton" of holiday shopping. That is 17% more likely than the average adult, and nearly twice (+91%) more than for light and non-listeners.
The study found that regular radio listeners outspend other consumers during the holiday season. These listeners say they will plunk down an average of $626 during the holidays. Not only are they outspending the average adult by $72, but they also plan to spend a whopping $241 more per person than light and non-listeners of radio.
When it comes to how brands can best influence these valuable consumers, Katz says the answer is obvious: “Invest in AM/FM radio, start early, and end strong.” Its report says 35% of regular radio listeners reported beginning their holiday shopping before Thanksgiving. And by the end of the T-Day weekend, 56% of regular radio listeners had already begun making holiday purchases. “Hitting radio listeners early with holiday promotion messaging ensures brands stay top of mind with these early shoppers,” the report says.
But with the days until Christmas flying by like paper in the wind, Katz tells advertisers there’s still time to impact how these lucrative holiday shoppers' dollars are being spent. Four in 10 radio listeners saved their holiday shopping until December and are primed for retailers' final push of the season.
“With bigger shopping lists and budgets being spent throughout the season, regular radio listeners are ideal consumer targets for holiday advertisers,” the Katz report says. “Tuning in frequently, they are the consumers most likely to be exposed to advertising on radio, and best qualified with the intentions and funds to act on brand messaging.”