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The Holidays Kick Into High Gear

The SMALL BUSINESS OWNER'S HOLIDAY SEASON cheat sheet The holiday season is underway. With all the speculation about this season, it can be hard for a small business to know what to expect. So what does a small business owner really need to know about this holiday? We have your game plan right here. THE SMALL BUSINESS PULSE Small businesses are going into this year's holiday season on a high. Most report sales are up or equal to this time last year and report greater optimism about the holidays. SMALL BUSINESS SALES GOING SMALL BUSINESS HIRING INTO THIS HOLIDAY SEASON ADDITIONAL HOLIDAY STAFF 2% 10% FULL-TIME PART-TIME 38% 36% SAME 26% AS LAST YEAR DO YOU EXPECT THIS HOLIDAY SEASON TO BE BETTER FOR YOUR BUSINESS THAN LAST YEAR? 50% 38% DON'T NEED HELP CAN'T AFFORD According to a November 2011 Intuit Small Business Survey TO HIRE HELP 12% NO OPINION RECOGNIZING EMPLOYEES THIS HOLIDAY According to a No vember 2011 Intuit Small Business Survey 28% 27% 18% 12% 50% YES 38% NO WILL THROW A WILL GIVE TYPICALLY DON'T CAN'T AFFORD HOLIDAY PARTY HOLIDAY BONUSES DO ANYTHING ANY SPECIAL RECOGNITION THIS YEAR THE SMALL BUSINESS RETAIL SCORECARD Many retail small businesses rely on the annual spike in income the holidays bring. Each year, December pulls up retail revenue. Data from small businesses using Quickbooks Online illustrates this lift. $25.000 09 $20,000 AVERAGE INCOME $15.000 10 $10.000 AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER THE NATIONAL TRENDS Though the average consumer's holiday spending is projected to dip slightly, the National Retail Federation projects total holiday retail spending will increase by more than 2 percent. TOTAL 2010 $452.9 Billion 2.8% HOLIDAY INCREASE OVER RETAIL 2011 $465.6 Billion *projected SPENDING LAST YEAR 100 200 300 400 500 HOLIDAY SALES AS % OF ALL RETAIL IN 2010 $704 AVERAGE CONSUMER'S 19.36% 2011 HOLIDAY SPENDING THE SEASON KICKOFF Thanksgiving weekend kicks off the start of the holiday shopping season each year. According to data from small businesses using Intuit's payments services, small businesses saw a 6 percent increase in sales volume over the Thanksgiving weekend last year compared to the year prior with wholesale trade small businesses seeing the most growth. THANKSGIVING WEEKEND CHANGE IN SALES VOLUME NATIONWIDE 18% 2008 - 2009 2009 - 2010 1% ↑ 6%1 WHOLESALE TRADE 2009 - 2010 THE SWELL SEASON According to data from small businesses using Intuit's payment services, sales volume for small businesses during the holiday shopping season (between Thanksgiving and Christmas Eve) has grown as well over the last few years. HOLIDAY SEASON CHANGE IN SALES VOLUME NATIONWIDE 2008 - 2009 2009 - 2010 10%1 10%1 HOLIDAY SEASON CHANGE IN SALES VOLUME BY INDUSTRY 2009 - 201O 17% 9% 10% 13% SALE O CONSTRUCTION RETAIL TRADE SERVICES WHOLESALE/ TRADE HOLIDAY SEASON CHANGE IN SALES VOLUME BY REGION 2009 - 2010 MIDWEST 9% 10% 9% NORTHEAST WEST 11% 2% SOUTH PACIFIC THE CUSTOMERS Consumers will spend most of their holiday retail dollars on gifts for family members. More than ever, this year's shoppers will be seeking deals over brand names. WHERE DO YOU PREFER TO SHOP? *IF MERCHANDISE AND DEALS ARE THE SAME 1 26% ONLINE % UNSURE • 69% RETAIL STORES 4% NO PREFERENCE 65 PERCENT OF DEAL-SEEKING CONSUMERS WERE ALREADY LOOKING FOR SALES IN OCTOBER. WHERE CUSTOMERS FIND THEIR DEALS 50% 47% 28% 27% 25% 11% NEWSPAPER OR MAGAZINE LOYALTY CARDS OR IN-STORE PROMOTIONS PRINTABLE DAILY DEALS ONLINE Other COUPON CODES COUPONS COUPONS THE GAME PLAN So how can a small business make the most of this holiday shopping season? Here's the play-by-play breakdown. TOP WAYS SMALL BUSINESSES WILL PROMOTE HOLIDAY OFFERINGS 75% 60% 60% 32% 27% SOCIAL MEDIA EMAIL MARKETING ONLINE MARKETING FLIERS ADVERTISING (TV, RADIO, NEWSPAPER) DO YOU PLAN TO USE YOUR MOBILE PHONE OR TABLET MORE TO PROCESS CREDIT CARDS DURING THE HOLIDAY SEASON? According to a November 2011 Intuit Small Business Survey 93% YES 4% NO SOURCES: NATIONAL RETAIL FEDERATION, MANTA, PORTFOLIO, BRAND KEYS, BIGRESEARCH, intuit. QUICKBOOKS ONLINE DATA, INTUIT PAYMENTS DATA

The Holidays Kick Into High Gear

shared by ColumnFive on Dec 02
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The holiday season is underway. With all the speculation about this season, it can be hard for a small business to know what to expect. So what does a small business owner really need to know about th...

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Intuit

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Business
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