Thanksgiving may be a week away, but that hasn't stopped small business owners from joining major retailers in promoting early holiday sales. Small businesses are feeling optimistic about 2013 holiday sales, and are gearing up with increased inventory and marketing efforts.
A new survey by Braun Research and Ink from Chase, the business-card portfolio of Chase Bank, found that 34 percent of small business owners are planning holiday promotions beginning on or before Thanksgiving Day. This same percentage believes their business will perform better this holiday season than in the 2012 holiday season, with about half of those respondents attributing their expected success to better marketing, expanded product and service offerings, and increased consumer demand. To keep up with the surge in holiday sales, 35 percent of respondents indicated that they would be working longer hours for the remainder of the season.
Small business owners have noticed consumer trends toward e-commerce and mobile shopping. On average, survey respondents expect 30 percent of their holiday sales to be through e-commerce and 13 percent to be through mobile commerce, otherwise known as m-commerce. About one-third of small businesses are expecting an increase over last year's numbers in both online and mobile sales.
The survey report by Ink from Chase said that the increased confidence levels of small business owners for the holidays may encourage them to be more generous with their own holiday spending for employees. Nearly 60 percent of respondents said they plan to spend extra money on employee gifts and celebrations this year.
The survey was based on the responses of 507 nationwide owners of consumer-goods retail businesses with fewer than 100 employees.
Originally published on BusinessNewsDaily.