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Prepare Your Small Business for the Holiday Season Small Retailers Can Compete and Win Small retailers* make up 98.6% of all retail firms Cosmetics & Beauty Fashion Beverages Jewelry Beer, Wine & Spirits Specialty Foods Electronics Furnishings Furniture Sporting Goods 0 10K 20K 30K 40K Small and medium-sized retailers: 51% Have an average gross margin of of all retail employees Hire 39.8% Have an average monthly revenue of $22,341 Consumers shop in physical stores for the experience They spend 69% of their discretionary income each month in-store. Trying items in store is influential than other purchase factors. 3x more “Retailtainment” events attract, engage and retain customers. of shoppers attended a retail event last year. 82% are interested in going to one in the future. 58% Brick-and-mortar is not dead. Ecommerce only comprises of retail sales. 55% 9.46% of online shoppers would prefer to buy from retailers that have a physical store presence vs. online only. Work with a SCORE mentor to keep your retail business competitive. www.score.org https://8f6bc1832c450a008db7-83b75ad4e71f1487522ba624f2d5d5be.ssl.cf1.rackcdn.com/NRF_PWC-The%20Economic%20Impact%20of%20the%20US%20Retail%20Industry%20REV.pdf https://grow.bigcommerce.com/rs/695-JJT-333/images/report-2018-omnichannel-buying.pdf https://nrf.com/consumer-view https://retailnext.net/en/blog/brick-and-mortar-vs-online-retail/ https://www.vendhq.com/blog/retail-data/ Sources: 18.6K 20.2K 25K 26.4K 27.7K 28K 30K 30.4K 39K 40K 0 Exclusive access to items or sale Pop-up shops A party A product demonstration or tutorial A game or competition 100 87% 80% 69% 81% 71% Retailer events consumers are interested in attending: * Fewer than 50 employees Average monthly revenue
