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U.S. Small Businesses Gear Up for Record-Breaking Holiday Season

Tooba Shakir 7 months ago 0 0

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A comprehensive survey by Fiverr International Ltd., in collaboration with Censuswide, reveals digital marketing strategies and an increasing reliance on freelance talent to meet the season’s demands.

The survey, which gathered insights from 1,000 consumers and 500 business leaders, indicates a strong confidence among business leaders in this year’s holiday sales, with an astounding 84% expecting an increase in revenue. This optimism comes despite challenges such as inflation and supply chain disruptions.

Targeting Young, Spend-Ready Consumers on Digital Platforms Businesses are keenly aware of the spending power of younger consumers, particularly millennials and Gen Z shoppers, who are anticipated to spend more this year. To capture this demographic, companies are turning their focus to social media platforms, with TikTok emerging as a key player. As per the survey, 20% of U.S. consumers are planning to discover gifts on TikTok Shop, and this number rises among Gen Zers, with 37% using the platform for holiday shopping.

Investing Heavily in Digital Marketing and Influencer Partnerships In an aggressive push to optimize their online presence, over half of the business leaders surveyed plan to increase their spending on social media ads, while 52% are looking to engage in influencer partnerships. The trend extends to other digital marketing strategies, with significant investment in organic content, updated product pages, email marketing, and SEO.

Freelancers: A Vital Resource in the Holiday Rush To supplement these marketing efforts and address staffing shortages, nearly a third of business leaders are turning to freelancers. Freelancers are being sought for a variety of services, from social media marketing to market research and SEO support. Gali Arnon, Chief Marketing Officer of Fiverr, emphasizes the pivotal role of freelancers, stating, “Freelancers skilled in digital marketing can turbocharge campaigns, optimize customer reach, and create a brand resonance that lingers well into the new year.”

AI: An Emerging Tool for Efficiency In addition to hiring freelancers, more than half of the business executives surveyed are planning to use AI tools to streamline operations. This trend reflects a broader movement towards integrating technology into business practices for greater efficiency and effectiveness.

Anticipating Challenges and Strategizing Accordingly Despite their optimism, business leaders are not blind to the potential hurdles of inflation and supply chain issues. Forty-six percent cite inflation as a significant challenge, a noticeable increase from the previous year. In response to these concerns, many businesses are planning to offer more substantial discounts and focus on major shopping days like Black Friday and Prime Day to boost sales.

Fiverr: Facilitating the Future of Work Fiverr’s mission remains centered around revolutionizing how the world works together, providing a platform for businesses and freelancers to connect and collaborate seamlessly. Over 4 million customers worldwide, from small businesses to Fortune 500 companies, have engaged with freelance talent on Fiverr in the past year.

As we head into the holiday season, U.S. small and medium businesses are poised to capitalize on the spending surge, backed by strategic digital marketing, influencer collaborations, and the innovative use of freelance talent and AI tools. This concerted effort, despite the challenges of inflation and supply chain disruptions, sets the stage for what could be a groundbreaking season for the retail sector.

For more information, visit Fiverr’s Holiday Hub for expert tips and resources tailored for businesses navigating this holiday season. Join the future of work by engaging with Fiverr through their website, blog, and social media platforms.

Image: Envato Elements




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