Small Business Saturday Results: What’s Ahead for the 2018 Holiday Shopping Season?
The biggest shopping week of the year is behind us and small business owners have good reason to embrace the power of Small Business Saturday 2018. The results are in and the numbers are encouraging.
The ninth annual Small Business Saturday, a shopping event developed by American Express in 2010 to boost smaller retailers, took in a record $17.8 billion in sales this year, according to the 2018 Small Business Saturday Consumer Insights Survey from the National Federation of Independent Business and American Express.
This is a significant leap from 2017 sales, which only reached $12.9 billion, down by almost $3 billion from the previous year. Millions of shoppers came to show their support for small, independently owned businesses this Small Business Saturday — and a staggering 41% of them shopped small business online.
These numbers are promising and we’re still only halfway through the holiday season. There’s opportunity to bring in even more revenue in Q4. Here are two major holiday shopping trends small businesses are experiencing this year:
1. Mobile Sales are on the Rise
Mobile commerce continues to grow and is predicted to account for 52% of all shopping this year. After mobile’s exceptional performance during the 2017 Christmas season, every prognosticator in the industry is betting heavy on mobile’s continued success. To stay ahead of the game, it’s important to update your server and ensure your website loads quickly on iOS and Android mobile operating systems.
2. Free Shipping is Expected
As more a people opt to shop online or via a mobile device, every small business’s holiday strategy must include free shipping logistics. Consumers have little patience for extra fees and with a variety of retailers offering this cost-saving incentive, they are more prone to taking their business where free shipping is a given. You may be thinking — how can a small business afford an additional 15-20% expense in Q4? Here’s a useful calculator that can help to decide whether or not to make that choice.*
Looking for more tips on how you can help your small business thrive? We’ve outlined steps for creating a plan for increased growth in this Small Business Week blog post. Behalf helps companies control their cash flow, so giving you more working capital to power your business forward. Learn more.
*This blog post is for informational purposes only, not financial advice. Any reference to a web site of another party, does not constitute or imply endorsement.