Can you believe we’re less than two weeks away from Thanksgiving?
For small businesses, the Thanksgiving holiday is 24 quiet hours before the busiest weekend of the year. Between Black Friday, Small Business Saturday and Cyber Monday, Americans will be out to get a good deal – and spend money.
Is your small business ready?
According to a National Retail Federation survey, holiday sales this year are expected to increase 4.1 percent. Last year, actual holiday sales increased 5.6 percent. NRF also indicates that over 71 percent of Americans between 18-24 years old will take advantage of an early bird or midnight sale on Black Friday.
Meanwhile, Shop.org expects online holiday sales to grow significantly over last holiday season. Being ready for Cyber Monday – the Monday following the post-Thanksgiving rush – has become an event on par with the in-store sales expected over the weekend for many businesses.
With less than two weeks until this incredible series of potentially year-defining shopping days for businesses, now is the last chance to make sure you’re ready for the rush.
Contact your local branch to review your accounts today. Here are a few questions you might want to ask:
- Are my bank accounts appropriate? Are there account features I will need moving forward?
- Am I in the right merchant services program? Are there features, like remote check deposit, that I should consider adding?
- Do I offer gift cards? Previously on the blog talked about gift cards; over 80 percent of holiday shoppers planned on giving gift cards last year.
- Will I need more employees? If you’re hiring this year, that means additional payroll responsibilities. Now, however, you can pay your employees – and vendors – by direct deposit. Click here for more insight on this great time-saving opportunity.
These are just a few questions you might be asking yourself right now, and we can answer them with you. Contact your local branch to review your current program with us!