NEW YORK, Nov. 15, 2016 — /EPR Retail News/ — New research undertaken by Fit Small Business has revealed trends around projected holiday spending this year. The study included questions on how much consumers expected to spend, their willingness to shop at small businesses, and reasons they may choose larger companies. The findings identified room for growth in marketing initiatives for the small business space, as well as overall support for local business.
Some of these findings included:
- 52% of consumers plan to shop the weekend following Thanksgiving. Of those aged 35-54 surveyed, over 60% expect to spend $300 or more on gifts this holiday season.
- Supporting local business emerged as the #1 reason consumers shop small, with 50% of respondents listing it as a major reason they would do so.
- However, consumers are unaware of Small Business Saturday: over half (54%) said they had never heard of it, and only 15% said they planned to shop on Small Business Saturday.
David Waring, co-founder of Fit Small Business, commented on the findings, saying, “This research illustrates the work small businesses need to put in to make sure Small Business Saturday is a success for them this holiday season. While consumers are happy to support small, local business, they’re not always aware of initiatives to boost spending here. With marketing strategy from business owners it can be a successful and lucrative holiday season.”
This is a huge marketing opportunity for small businesses: Small Business Saturday offers small businesses the context to encourage consumers to shop small, allowing them to emphasize the most pertinent reason people do so – to support small businesses. The full results of the research can be found here.
For further information, please contact:
Katie Biggs, Digital Marketing
Fit Small Business: Marc Prosser and David Waring launched Fit Small Business in 2013 to help small business owners navigate the questions and difficulties that arise when running a business. Fit Small Business covers topics ranging from small business financing to managing employees to finding customers and building relationships.
David Waring: David Waring served as a top executive at Forex Capital Markets LLC, which he joined as an initial employee and grew to a publicly traded company with over 700 employees. Since then, David has launched several successful websites including Fit Small Business, which offers small businesses the advice and information they need to make the best decisions possible.