HUGE GROWTH IN E-COMMERCE SALES
For those who have an e-commerce site, over a third have seen an increase of 15+% in sales since March. Very few have seen any decrease in sales. Currently, online sales make up on average 21% of overall sales among our small business owners.
FACING CHALLENGES HEAD-ON
Retailers will have a lot to iron out in the coming months with their retail operations. Those that have shown agility and adapted their operations will be better situated to deal with the uncertainty of the season and have a better chance of success.
Along with needing to introduce new services to accommodate consumer’s need and wants, they also have other significant challenges to overcome. Cash flow, limited advertising and marketing budget, and customers’ safety concerns, were all significant challenges to local businesses.
“Although the survey findings give a picture of uncertainty and pessimism, these local business owners aren’t giving up the fight,” Ross Sibert said. “But performing well during this holiday season is critical to the future of their businesses.
“The original financial assistance has already been used and the government has failed so far to renew its pandemic-related support to both consumers and businesses, which padded pockets and buoyed employment. This may result in sales over the next few months disappearing, especially if the pandemic continues to surge.
“It’s also critical that consumers support our local businesses. These local businesses are the entrepreneurs who bring innovation, diversity of products and services to our neighborhoods, as well as local and distinctive character to our town centers and main streets. If consumers don’t support them now, they won’t be around to enjoy in the future.”
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About Retail Pulse Survey
Retail Alliance’s Retail Pulse survey was conducted in early November with 93 small businesses (retail, restaurant, services) across the region.
Business Classifications and Sizes:
- Retail (apparel, garden center, florist, boutique, resale, jeweler, antique, specialty store such as health food, chocolate, etc.)
- Services (auto repair, spa, hairdresser, dance studio, coaching, massage, etc.)
- Restaurant (coffee shop, cafe, brewery, winebar, winery, restaurant, etc.)