Despite Recession Indicators, 88% of U.S. Business Owners or Executives Expect to Make the Same or More this Holiday Season, According to New Data from Fiverr
Retail and e-commerce business owners polled said they’re also willing to offer steeper discounts to entice customers compared to promotions they offered in 2021.
“The data shows businesses are shifting their strategy, preparing early and prioritizing marketing channels that will keep them competitive in the current market,” said
Several trends that emerged from the data include:
Business leaders are aware of the potential negative impact that inflation, the economic downturn, and supply chain disruptions could have on their business this season.
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More than 1 in 3 business leaders surveyed (
36% ) said the economic downturn and inflation’s impact on sales (37% ) would be among the greatest challenges they anticipate their business will encounter this holiday season. -
Supply chain concerns still linger:
43% of respondents said supply chain disruptions or inventory shortages would be among the greatest challenges they will encounter this holiday season, along with competition from larger e-commerce retailers (37% ).
Business leaders are preparing earlier and offering steeper promotions this holiday season.
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The majority (
64% ) of business leaders polled started holiday promotion planning 1-3 months earlier this year compared to 2021. -
Nearly half (
47% ) of executives surveyed plan to offer steeper holiday discounts this year compared to last year.
Nearly
- 1 in 3 executives surveyed plan to reduce investment in email marketing compared to last year, and just over 1 in 4 plan to cut back on in-store promotions or events.
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Nearly
90% of business leaders surveyed say social media is sacred; they have no plans to cut back ad spend in this area this holiday season, and41% plan to increase their spend in this category.
Despite a looming recession and high inflation, retail and e-commerce business leaders are optimistic about the holiday shopping season.
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88% of business leaders surveyed believe they’ll make the same or more this holiday season as last year. - But the stakes are high — half* of business leaders surveyed believe their sales performance this holiday shopping season will have more of an impact on their overall business outlook compared to previous years.
This survey was conducted in partnership with Censuswide. You can also find a collection of expert tips and resources for businesses navigating this holiday season in Fiverr’s Holiday Hub.
*‘Our sales performance this holiday shopping season will have some impact on our overall business outlook compared to previous years‘ and ‘Our sales performance this holiday shopping season will have a lot of impact on our overall business outlook compared to previous years‘ answers combined.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20221115005374/en/
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