Small businesses expect to make two-thirds of their yearly revenue over the festive period.
They are preparing to defy the economic gloom and aim for a bumper festive season, according to a new survey.
They are predicting they will generate more revenue than in 2021, with 75 per cent expected increased activity.
The estimated revenue of £460,000 per small business between November and January – amounts to two-thirds of their total annual revenue on average.
The optimism has been boosted by 67 per cent of consumers saying they plan to have a Christmas party by spending an average budget of £671.
The figures come from a survey from Intuit QuickBooks. It reveals consumers believe small businesses are the preferred outlets for the holiday. On average, they plan to spend £250 – equivalent to 37 per cent of their total budget.
On average, online revenue accounts for 68 per cent (UK) of these small businesses’ total annual revenue and over three quarters (79 per cent) say online sales will be more important during the 2022 festive season than last year.
Gift cards come into play in a big way at Christmas when people cannot decide what presents to buy. Digital gift cards, otherwise referred to as e-vouchers, can either be delivered instantly via email or SMS or at a specified date.
Everyone loves a bargain, particularly at Christmas when the budget is often tight. Adjusting your pricing for a short period of time can help to boost sales and your income.
Gift sets come to the fore a Christmas. Create extra value by bundling together products which complement each other, which can increase your average order value.
Offer free delivery
This can be a clincher for any online orders as delivery charges can be expensive. It might also be worth considering overnight delivery services to make sure your customers have their products in time for the big day.
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