Happy New Year!
It appears we could be ready to have a good year for business. Here are some things to consider when planning your business strategies for the new year.
Over half of the homes sold in the Naples area market sold for $300,000 or less. Does this affect your target audience? Does it make a difference in your product selection? If the trend for new single family homes is in a downward slope, does that change your business plans for the year?
The new year has begun and many sources of statistics are available to compare your progress with the rest of the area and nation.
The good news is, consumer sentiment is strong, which should help in consumers purchasing your goods and services if you have positioned yourself properly.
Here are a few questions you should ask yourself for preparing for 2017:
- Are you prepared to meet the challenges ahead with your website and online marketing efforts?
- Do you have a public relations strategy?
- Does your website reflect your business properly?
- Are you reaching the audience where they are through the different social media platforms?
- Are you showing up well on searches on the web so you are at least an option for a consumer that wants to by your goods or services?
There are quite a few new people moving into our market, and that trend isn’t slowing. There is a lot of opportunity to increase your revenues and profitability if you properly position yourself in the market.
The graphic below is a view of comparison year over year for our area.
Click here to read the whole report of regional economic indicators put out by FGCU.
A summary will tell you there has been an increase in airport passenger activity, and the new commercial air service at Naples Municipal Airport served 3,051 passengers through October of 2016.
Tourist tax tevenues have increased, as well as overall taxable sales.
Labor force and unemployment
Collier County’s unemployment rate rose to 5.1 percent in November 2016, up from 4.9 percent in October. The unemployment rate for the state of Florida is 4.8 percent while the national rate dropped to 4.6. (Seasonally adjusted numbers)
Single family home permits are trending downward for the year. Collier County’s total for November 2016 was 163, down from 202 in November 2015 and from 216 in October 2016.
Collier’s month-to-month permits issued amounted to 24.5 percent decline; its 13-month trend line now shows a moderate downward slope.
While the number of existing single family homes sales are trending downward, the price is beginning to trend back up.
Consumer Economic Sentiment
The economic sentiment is notably up based on anticipated policy changes, with no specific details yet provided.
The Florida Consumer Sentiment Index mirrored the nation’s, increasing 6.9 points to 97.2 in December 2016 compared to the previous month. December 2016’s number was also 5.6 points higher than the 91.6 recorded in December 2015 and was the highest index for the state since March 2015.
“Perceptions of present conditions have largely improved as a result of the buying conditions in the holiday shopping season in conjunction with the strength of the state’s economy,” said Hector H. Sandoval, director of the Economic Analysis Program at UF’s BEBR in the December 23, 2016 issue of Florida Consumer Sentiment Index.
“Overall, Floridians are far more optimistic this month.”
Need help figuring out your public relations strategy? Is your website is up to speed to help the consumer make a buying decision? Do you have an outreach plan that is able to reach people such as an electronic newsletter?
Contact us now if you need to discuss. 239-325-1127.