SMBs Take Cues from Major Retailers with Early Holiday Promotions

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Younger small business owners are especially likely to increase inventory, marketing and social media presence. In comparison with business owners over the age of 44, younger owners are more focused on utilizing friends and family discounts (38 percent vs. 18 percent) and social network promotions (41 percent vs. 24 percent).

A new survey of small business owners released recently from Ink from Chase shows that, like major retailers, small business owners are preparing for the holiday rush even earlier this year with more than one-third (34 percent) planning promotions beginning on or before Thanksgiving Day. To gear up, 47 percent of small business owners are increasing inventory or marketing, while 22 percent plan to enhance their social media presence.

The nationwide survey commissioned by Ink from Chase, the business card portfolio of Chase Bank USA, N.A., a subsidiary of JPMorgan Chase & Co. (NYSE: JPM), reached 507 small business owners that sell consumer goods and have between two and 99 employees. This slideshow features some of the key findings.

 

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