They say Christmas is the most wonderful time of the year, but it’s also one of the busiest for many small business owners.
Most would agree the year’s biggest sales season starts in earnest on Black Friday, which falls on 29th November this year.
In this article, we’ll look at some interesting new research that could help you get into the mindset for the season.
This research should not only help allay a few potential fears but inform your seasonal strategies to boot.
So, let’s jump in.
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New stats every Canadian small business owner needs now
GoDaddy recently surveyed 1010 adults from across Canada to dig down into their holiday and Black Friday shopping habits.
67% of shoppers are willing to pay more to buy from a small company as opposed to a larger rival.
More specifically…
- 17% of consumers are happy to pay 5% more
- 27% would pay 10% extra
- 12% are willing to pay 15% more
- 6% would splash out 20%
- A generous 4% would pay more than 20% extra to benefit from the products and services of a boutique business
Editor's note: Start selling online now with GoDaddy's easy online store builder. If you can point, click, drag and drop you can use Online Store.
More good news for small shops
The study also highlighted some additional facts about the holiday shopping season that could be handy as you prep for the big day.
18% do most of their gift shopping on Black Friday
So, you’ll want to have your seasonal offers ready to go in good time for this event.
Of course, you don’t have to beat yourself up if you’re a little behind this year. GoDaddy’s research also discovered that…
- 26% of shoppers do most of their shopping between December 1 and 14th
- 11% tick off most of their gift list between 15 and 23rd
53% learn about holiday deals through word of mouth
This may come as a surprise, but more than half of Canadian consumers learn about seasonal shopping deals from word of mouth.
A further 47% discover deals through social media ads.
So, if you have a small budget to spend on Instagram and Facebook ads, you could reap the benefits this festive season.
58% buy gifts for between three and 10 people
This data point should inspire some upselling. If you’ve got a client in your shop, why not ask them who they’ve got left to buy for this year and make some suggestions for further sales based on what they say.
Running your business online? Why not create a pop-up at the checkout asking if they’ve any more people to buy for? Be sure to suggest some stocking fillers to add to their basket.
Atlantic and Northern region shoppers are BIG buyers
When GoDaddy drilled down into the regional differences in Canadian shopping behaviours, the team found that Atlantic and Northern consumers are more likely to buy gifts for large numbers of people during the festive season.
24% of people in the Atlantic Region and 20% of consumers in the Northern region said they bought gifts for more than 10 people. This compares to 5% of shoppers in British Columbia and 7% in Ontario.
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A few frequently asked questions
Still have questions about the upcoming holiday shopping season? The answers may be here.
What is Black Friday?
Black Friday is an annual shopping event that was born in the USA and has since been adopted by countries around the world. It tends to signal the start of the holiday shopping season.
When is Black Friday in Canada?
The event traditionally takes place on the first Friday after the US Thanksgiving, a celebration that falls on the fourth Thursday of November every year. This year Black Friday will take place on Friday 29th November in Canada.
What is Cyber Monday?
Cyber Monday is another day of holiday shopping deals, but the focus for Cyber Monday is on online shopping.
Are Black Friday deals better than Cyber Monday deals?
In 2024, Black Friday and Cyber Monday deals tend to blur into one another. Some companies run Black Friday sales for a week or more, so there isn’t that much distinction between the two.
