The latest research has indicated that small businesses in the UK could be set to enjoy a bumper Christmas period, with shoppers intending to buy big from independent outlets.
Direct Line business insurance carried out this research, and the estimated figure to be spent in small shops over Christmas is £8.4 billion. This represents a rise of £2 billion on the total for the same period in 2020, and it will come as welcome news to smaller firms following a long 18-month struggle to survive the Covid-19 pandemic.
Indeed, the survey findings are so encouraging for these firms that many may feel they want the advice of a small business accountant in Goole or wherever they live about how best to use this financial fillip.
When it comes to individual shoppers, the average amount that is set to be spent on festive gifts in smaller shops is £204. By contrast, the figure for 2020 was £157. Presents bought from small retail outlets will account for 28% – almost one third – of the total Christmas shop for 2021.
Speaking to Business Leader, Jane Morgan from Direct Line insurance said:
“The last two years have been turbulent for small independent businesses, so it’s great to see the British public supporting them this Christmas, recognising that they offer unique gifts, first-class customer service and an excellent quality of goods.”
A desire to back such businesses was cited as the key factor by 72% of people, while 44% said that they felt that smaller shops offered better products.