Business Owners Less Optimistic about Holiday Sales
NEW YORK -- This holiday season small-business owners feel less optmsitic about the shopping climate compared to last year.
What's more, their employees’ pockets may feel it, findss the American Express OPEN Small-Business Holiday Monitor.
Some 30% of retailers think their holiday sales this season will be strong, American Express says, down from 41% last year and as a result, just 41% of business owners will be giving their clients/customers gifts this holiday season, down from 51% last year.
Other key findings:
- 32% of small-business owners will be throwing a holiday party, down from 40% last year. On average, they will spend $895 on their celebration, down slightly from $959 a year ago.
- 27% of small-business owners will give their staffs end-of-year bonuses, down from 35% last year. However, on average, employees receiving bonuses can expect a 13% bonus, up from 9% in 2012.
When purchasing holiday gifts for their clients and customers small-business owners says they will practice what they preach; 54% will “shop small” and purchase gifts from a small business.
Published by The Business Journal, Youngstown, Ohio.
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