Getting products in and then getting them out to customers are the top challenges small businesses said they would face this holiday season.
Intuit QuickBooks surveyed 9,700 consumers and 3,000 small businesses in the US, Canada, and UK. Of the 1,500 small businesses surveyed in the US, 70% predicted they would experience inventory or product shortfalls, and 90% said they would experience shipping and fulfillment woes. Hiring was also expected to be a challenge during the holidays.
Intuit QuickBooks found the top features desired by the consumers it surveyed were quick-and-easy checkouts and online payments. With inflation a factor, respondents said they would spend even more money at small businesses that offered holiday promotions and discounts and fast, affordable shipping options.
Eighty percent of the businesses surveyed said the 2022 holiday season was more important to their overall financial health than last year, with about 70% forecasting more revenue this holiday season compared to 2021.
But at least two-thirds of the consumers surveyed said inflation would force them to buy fewer gifts this year. At the same time, in the US and Canada, there could be a shift in demand toward experiences, such as entertainment and dining out.
You can find more information about the survey results on Intuit.com. QuickBooks also created a special holiday hub to help small business owners with the tools and resources.
Let us know what challenges your ecommerce business is facing this holiday season.
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