Small Retailers Eye a Brighter Future — Despite the Costs
Even as the price tag on the everyday stuff keeps climbing, the folks running mom‑and‑pop shops and indie boutiques are shrugging off the blues and looking forward to 2024 with a grin.
From 59% to 89%: Growth Expectations are on a High‑Energy Sprint
In the most recent annual survey, 59% of independent business owners were feeling hopeful in 2022. Fast forward a year and that number has jumped to a dazzling 89%. That 30‑point rise basically means the community is gearing up for a surge in sales.
Costs Are Still a Drag… but Not a Deal‑Breaker
- Goods & services prices up 31% – that means tighter margins for most.
- Energy bills spiking 30% – more than a few coffee mugs are costing extra.
Yet, 48% say they’re excited and 45% feel confident about the next six months. So while the inflation story is serious, the owners’ enthusiasm keeps the train moving.
Small Business Saturday: More Than a Shopping Holiday
On December 2nd, the UK’s most successful small‑business celebration kicks off again. In 2022, shoppers spent a whopping £774 million across small stores for that one day. It’s a reminder that when the community unites, the small‑biz world can flood with cash.
What’s the Plan for the Festive Season?
Large chunks of owners (86%) see the holidays as the “big money makers.” To maximize the boom, here’s what’s in the pipeline:
- 49% are creating in‑store events – think pop‑up parties, tastings, or exclusive shops a day.
- 48% are launching holiday‑only products or services – limited edition items that make customers feel like they’re part of a special club.
- 51% are teaming up with nearby businesses – cross‑promotions and joint marketing to bring more walkers to the street.
Words from the Leaders
Dan Edelman, American Express
“It’s clear that many independent businesses are not just holding their ground in the face of ongoing challenges, but are looking ahead with determination and optimism – ready to make the most of the upcoming festive period.”
Michelle Ovens, Small Business Saturday UK
“Small businesses definitely need a boost this winter, after sustaining so many years of challenges. With over fourth fifths relying on the festive peak season to carry them through, it’s vital that the nation throws its weight behind all our favourite small firms up and down the country on Small Business Saturday and beyond.”
The best part? They want that optimism to translate into tangible growth for the new year. They’re all about turning seeds into flourishing trees.
Stay in the Loop
Want real‑time updates on this and related stories? Subscribe now and never miss a beat!
