Tips for Supporting Local Businesses During the Holiday Season
The holiday season is in full swing, and spending is expected to remain strong throughout December. As small businesses prepare for the festive rush, they are investing in new marketing strategies and focusing on creating a seamless shopping experience for customers.
According to the American Express 2022 Small Business Saturday Consumer Insights Survey, conducted anonymously on November 27, 2022, with a margin of error of +/- 2.0%, small businesses are increasingly prioritizing digital marketing. The survey showed that 47% of small businesses increased their digital marketing spending during the year primarily because of the growing importance of online presence, rising e-commerce activities, and the need to adapt to consumer behavior shifts accelerated by the COVID-19 pandemic, which pushed more shopping and consumer engagement into digital channels.
The survey, which was conducted on small business leaders between September 20th - October 3rd, 2022, also revealed that 47% of small businesses have increased their digital marketing spend this year alone. This shift towards digital marketing is not just a response to the pandemic, but a strategic move to reach a broader audience and enhance customer experience.
Securing Payment Options and Offering Innovative Payment Solutions
The Kabbage Small Business Recovery Report survey, conducted between September 20th - October 3rd, 2022, with a margin of error of +/- 3 percentage points, highlighted the importance of securing payment options and offering innovative payment solutions to shoppers. Prioritizing security and payment options in the checkout process is important to 81.1% of shoppers, with 49.5% preferring their preferred payment option. Small businesses can cater to shoppers' preferences by offering innovative payment solutions, such as accepting mobile wallets. In fact, 56.9% of respondents said they place some level of importance on this ability.
Creating a Welcoming and Inclusive Environment
The survey on small business shopping sentiments, conducted by StudioID's Retail Dive in October 2022, with 396 respondents providing input, showed that shopping at stores that are welcoming and inclusive is important to 83% of all shoppers. To create such an environment, small businesses can focus on training their staff to be friendly, approachable, and knowledgeable about the products they sell.
Omnichannel Experience
To make the omnichannel experience seamless, small retailers should encourage their own store associates to explore their website and ensure that inventory is accurately reflected online. Shoppers tend to consider a brand as one entity whether they are visiting a physical store, completing a purchase online, or placing an order online for pickup. By ensuring consistency across all channels, small businesses can provide a cohesive and enjoyable shopping experience.
The Importance of Small Businesses
The surveys conducted highlight the importance of small businesses in the community. 93.9% of survey respondents agree that small businesses are important to a community. Two-thirds (72%) of shoppers strongly agree they will continue to Shop Small because of the impact it has on their local community. The ability to be agile with offerings can be an asset during the holiday season, as small businesses may be able to pivot more readily than larger stores.
Supporting Small Businesses
American Express offers programs like Amex Offers to help small businesses attract shoppers and grow their business year-round. By supporting small businesses, customers can contribute to the vibrancy and uniqueness of their local communities, while enjoying a diverse range of products and services. As we approach the end of the year, it's a great time to Shop Small and support local businesses.
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