While retail sales have remained a bright spot in the economy recently, small businesses around the country are bracing for a potentially difficult holiday season, Fast Company reports.
That’s a key takeaway from the latest Small Business Now report released this week from Constant Contact, which surveyed more than 1,600 small businesses in the United States, Australia, Canada, and the U.K., along with 3,000 consumers.
The report finds that this year, specifically, small businesses and retailers are feeling the pinch as more than half of consumers have reduced their spending at those establishments due to inflation.
Additionally, the report finds that almost 80% of small businesses that measure their marketing effectiveness are “uncertain that their holiday strategy was effective in 2023.” That indicates some small companies are flying blind, in that respect.
