Retailers are optimistic about prospective sales and growth into 2017 by means of holiday deals, according to the American Express Holiday Growth Pulse survey — one of 1,502 small and middle-market businesses across various industries.
Here are some key findings, trends, and factoids.
Seventy-four percent of small businesses and 91 percent middle-market companies reported growth as a top priority.
Fifty-nine percent of small market business retailers believe holiday sales will be greater than last year’s, while 34 percent estimate similar sales figures year to year. And 81 percent of middle market retailers also believe sales will be stronger.
Small and middle-market retailers alike believe growth next year to be contingent on holiday sales — this response from 59 percent of small and 89 percent of middle-market respondents. To ensure success, 77 percent of middle market retailers plan to add additional staff to meet holiday demands. Less than one-third of small-market retailers plan to add staff.
Small and middle-market retailers alike plan to ramp up sales and promotions — 64 percent of small and 88 percent of middle-market retailers plan to get aggressive with holiday deals. Forty-two percent will start offering holiday discounts earlier in the year than in the past.
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Small-market retailers plan take to social media platforms to draw in more holiday customers — 89 percent of small business retailers report they be using social media this holiday season, with the greatest number, 81 percent, utilizing Facebook.
This year, Black Friday sales numbers are expected to exceed $3 billion for the first time in history.
