How small businesses can navigate the festive period 

For most small businesses, Christmas is the busiest time of the year, having a large impact on yearly revenue.

For most small businesses, Christmas is the busiest time of the year, having a large impact on yearly revenue.

In fact, companies expect to make two-thirds of their annual profits over the festive period, despite current economic uncertainty.

According to a recent survey by Intuit QuickBooks, firms are predicted to generate more revenue than in 2021, with 75 per cent expected increased activity.

The optimism has been boosted by 67 per cent of consumers saying they plan to have a Christmas party by spending an average budget of £671.

Shopping small

From a consumer’s point of view, the survey proves that small businesses are the favoured place to shop at Christmas.

On average, they plan to spend £250 –?equivalent to 37 per cent of their total budget. 

Online revenue accounts for 68 per cent (UK) of these small businesses’ total annual revenue and over three quarters (79 per cent) say online sales will be more important during the 2022 festive season than last year. 

Gift cards 

Gift cards come into play in a big way at Christmas when people cannot decide what presents to buy.

Digital gift cards, otherwise referred to as e-vouchers, can either be delivered instantly via email or SMS or at a specified date. 

Pre-Christmas discounts 

Everyone loves a bargain, particularly at Christmas when the budget is often tight.

Adjusting your pricing for a short period of time can help to boost sales and your income.  

Gift bundles 

Gift sets create extra value by bundling together products which complement each other, which can increase your average order value. 

Offer free delivery 

Delivery charges can be expensive, so diminishing these is a great incentive to achieve more sales.

It might also be worth considering overnight delivery services to make sure your customers have their products in time for the big day.

Minimise staff pressure

Christmas is stressful for every employee in your company, so be sure to consider how they are getting on.

Staff may find themselves working longer hours and covering for their colleagues who are taking annual leave.

To ensure your business runs smoothly and your employees are happy, it is important to minimise the pressure and check in with them as often as you can.

Need advice on related matters? Contact our team today. 

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