Logo for salem business journal
Copyright © 2024 • Salem Business Journal Powered by WhirLocal
Business News is brought to you by:

The President’s Pen: Data-Driven Insights for Small Businesses to Thrive During the Holidays

Written by Jesse Lippold Peone III on Dec. 13th, 2023
Featured Image photo for The President’s Pen: Data-Driven Insights for Small Businesses to Thrive During the Holidays

In the festive thrum of the holiday season, marked by the sparkle of lights and the charm of Christmas tree stands, there lies a significant opportunity for local businesses, the pillars of our communities. This year, with shoppers weaving through the labyrinth of gift-giving, small businesses are positioned to seize a substantial portion of the local market. The question remains: how can these establishments outshine the retail giants?

A recent Gallup poll offers insightful data on consumer behavior during this pivotal period. Notably, 80% of shoppers aim to support small businesses between Thanksgiving and Christmas, a trend that underscores a shift in consumer priorities toward community engagement and support.

The key to harnessing this potential lies in understanding what motivates these consumers. According to the poll, 68% of respondents place great value on past positive experiences with a brand or product. This revelation is invaluable for local businesses, emphasizing the need for not only making a strong first impression but also ensuring it endures. 

Word-of-mouth continues to be a formidable influencer, with 41% of shoppers swayed by recommendations from friends, as per the Gallup findings. This statistic highlights the importance of cultivating a community of advocates. Encouraging satisfied customers to share their experiences can be a powerful strategy for local businesses. Initiatives such as hosting community events, forming alliances with other local ventures, and participating in local projects are effective ways to boost visibility and foster community spirit. (Here is an article from Indeed, on how to ask for referrals)

Another pivotal factor is the consumers’ preference for an in-person shopping experience, cited by 27% of respondents in the survey. In a landscape dominated by online retail, the appeal of a physical store – the ability to interact with products and receive personalized customer service – stands as a unique edge for local businesses. Strategies to draw in customers include creating an inviting, festive environment, offering in-store promotions, and maintaining a safe and welcoming atmosphere. (Here are some tips on how to create a compelling customer experience according to Harvard Business Review)

Adaptability also plays a crucial role in the success of local businesses during the holiday season. The Gallup poll revealed that 60% of shoppers plan to purchase gift cards. This trend offers an avenue for local businesses to diversify their offerings. Gift cards not only guarantee future sales but also help introduce new customers to the business, serving as a crucial tool for expanding reach and embedding local shops in the community’s shopping practices.

Furthermore, the integration of technology and social media marketing strategies can greatly enhance the visibility and appeal of local businesses. By leveraging digital platforms, small businesses can showcase their unique products and services, share customer testimonials, and promote special holiday deals. This approach not only aligns with the growing digital trend but also helps in reaching a broader audience, including tech-savvy consumers who prefer online browsing before making in-store purchases.  (Here is an article from Square, on how to effectively do gift cards.)

In conclusion, the holiday season transcends mere sales opportunities; it represents a pivotal moment for local businesses to affirm their presence in the heart of their communities. If your business isn’t offering gift cards for your customers, you are missing out on 

 By leveraging personal connections, crafting memorable experiences, and adapting to evolving consumer trends, these establishments can cultivate a loyal customer base that extends beyond the holiday period. Ultimately, this scenario creates a win-win situation: benefiting the businesses, the shoppers, and the community at large. With the right strategies in place, local businesses can thrive during the holiday season and establish a lasting bond with their customers, contributing to a vibrant and resilient community.

unnamed 3
unnamed 4

Jesse Lippold Peone III

Privacy PolicyTerms Of ServiceCookie Policy