Holiday Shopping Tips for Small Businesses

Consumers will celebrate Thanksgiving (89%), Hanukkah (14%), Christmas (92%) and New Year’s Eve (64%) this year.1 These holiday shopping tips will help you spread the joy.

• Holiday shoppers will spend an average of $1,261 on gifts.2
• Inflation is still a concern, so 64% of shoppers want to spend as little as possible and 41% will set a budget.3 They will also use other measures to cut costs.

What are popular gifts consumers buy during the holidays?

Gift cards and money are among the most popular items given during the holidays. That trend will continue in 2024.

How will holiday shoppers pay for gifts in 2024?

The holidays are a bright spot that consumers look forward to at the end of the year. By October, most have set a budget and planned how to they’ll pay for holiday expenses. This year, cards and cash will be the top payment choices.4

• Debit card (60%)
• Credit card (53%)
• Cash (53%)
• Gift card/voucher/prepaid card (28%)
• Apple Pay/Android Pay (19%)
• Other mobile payment (16%)
• Buy now, pay later (13%)
• Retailer credit card (13%)

How should small businesses prepare for holiday shoppers?

Thirty-one percent of consumers plan to shop for the holidays on Small Business Saturday, November 30.5 Here’s what you can do to ensure your business is on their list that day and throughout the season.

• Attract holiday shoppers to your website, mobile app, AND physical locations.

  Sixty-three percent of consumers look for local businesses online.6 Consumers also heavily rely on recommendations and product reviews when shopping. That’s why an omnichannel strategy that includes social media, search, video, localized ads, and other ways to engage with your brand during holiday shopping is important.

• Offer attractive discounts.

  Consumers are worried about the economy and price increases but still want to gift family, friends, and coworkers during the holidays. Discounts will help meet their immediate needs and they’re likely to return to your business after the holidays.

• Accept a range of payment options.

  Shoppers want to simply, securely pay for their purchases. Forty-eight percent think payment choices are very important.7 Be sure you can accept a range of payment options from holiday shoppers.

When preparing your small business for holiday shopping, consider the Synovus Commerce Suite. It features shopping cart integration and inventory management, as well as secure online, mobile, contactless, recurring, and unattended payment functionality. You can also call 1-888-SYNOVUS (1-888-796-6887) or stop by one of our local branches.