7 Holiday Tips for Small-Business Owners
NEW YORK (MainStreet) -- By all accounts, consumers are full of the holiday spirit -- if by "holiday spirit" we mean the desire to buy, buy, buy. Unfortunately, this year's increased holiday spending seemed to be confined to the big retailers.
Retail sales in November were significantly higher than at the same time last year, and during Thanksgiving weekend in particular, consumer spending increased by $4 billion. Moreover, online sales hit record levels.
|Bigger retailers' discounts may be great for consumers but a problem for smaller stores that can't match them but depend largely on healthy holiday sales for yearly profits.|
A recent report from comScore, though, found that online sales for the biggest 25 retail sites increased by an astounding 20% year over year during the month of November while staying largely stagnant for small- and midsize retailers.
"It's a tough situation right now for many small businesses," says Brad Wilson, a retail trends expert and founder of BradsDeals.com.