After years of multiple problems plaguing small businesses, this holiday season might provide some relief for them.
Businesses are also still dealing with labor shortages. So, if you have the flexibility, experts suggest shopping during off-hours to avoid the worst of the holiday rush. Despite those inflation rates hovering around 8%, Massachusetts retailers are expecting a 10% increase in sales compared to last year. Industry experts say small businesses are banking on this holiday season to make it through to next year. And that means a lot of discounts and promotions for consumers.Sign up for NECN newsletters.
”You can't look at 8% inflation and increase your prices 8%, because the competition out there just does not allow for that. The consumer still has all the leverage, right from their smartphone to buy whatever they're looking for anywhere around the world”, said Jon Hurst, president of the Retailers Association of Massachusetts.
Small businesses benefit from impulse buying. Those last minute sales while checking out could determine whether or not this fourth quarter is successful for a lot of them.
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