Chamber Chat – Small Business Saturday 2020

November 29, 2020 | Written by: sanford-user

By Meg Moss

Each year for the past 35 years, Deloitte has conducted an Annual Holiday Retail Survey. This year, their survey explores the shopping behaviors and preferences of 4,012 US consumers as they take on shopping in this unique season. Here are a few finding from the survey: “51% of survey takers say they are anxious about shopping in-stores during the holiday season due to COVID-19, though 49% say a vaccine would help them return to pre-COVID-19 shopping habits; one in three shoppers say they are in worse financial positions than last year, and two in five are expected to spend less than last year because of concerns about the economy; shoppers are expected to spend an average of $1,387 per household during the holiday season, down 7% year-over-year; 47% of shoppers are not planning on shopping “event” days such as Black Friday, Prime Day and Cyber Monday, and about 62% plan to use online retailers for holiday shopping.”

According to the Deloitte website, “Deloitte is the company under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit & assurance, consulting, risk and financial advisory, risk management, tax, and related services to select clients.”

This year, health and financial anxiety are reconfiguring how shoppers plan to shop this season. The Deloitte survey summary states “many [people] are planning to trim in four key areas: spending, in-store purchases, travel and experiences, and time spent shopping. Though COVID-19 is altering holiday traditions, shoppers are still intent on spreading cheer and making the most of celebrating at home.”

Many small business owners can tell you that holiday sales can make or break their bottom line. In fact, the holidays represent nearly 19% of some retailers’ total yearly sales, according to the National Retail Federation. Customers appear to always be looking for holiday deals, so small businesses should take into account all holiday shopping avenues, including Black Friday, Small Business Saturday, Cyber Monday, Cyber Week, Free Shipping Day, Super Saturday and Boxing Day.

If your budget is limited this year, there are still ways to show love to small, local businesses. The Chamber of Commerce is proud to have been running a “Support Local – Win Big” promotion all week. Today, November 28th, is Small Business Saturday. Since 2010, American Express has been supporting and promoting the idea of supporting small businesses the day after Black Friday. You still have the opportunity to participate in the promotion – until 11:59 pm on Saturday, November 28th. Simply go to the Sanford Area Chamber of Commerce Facebook page and look for the post at the top called “Support Small – Win Big”. There, you will comment with your favorite small business in Lee County. Make as many comments as you’d like…promote the businesses you love using this platform. One lucky business will be chosen to win $1,000, and if you are the one who made the comment, you can win $250. But we must reach 1,000 comments to award the cash. We could all use a little extra cash around the holidays, and our businesses sure need the support as well.

Happy shopping!