How Was Black Friday, Realy?
Over the long weekend, most U.S. bosses gathered with their family and friends to fill their plates with turkey, stuffing, pie, or their other favorite Thanksgiving staples. (Though does anyone really like canned cranberry sauce?) And while those of you outside the U.S. likely did not celebrate Thanksgiving, a lot of you still participated in one American tradition that has turned into an international event, Black Friday shopping. Which has grown to include Small Business Saturday and Cyber Monday.
And while small businesses and retailers remained hopeful, no one could predict exactly what would happen in the post-pandemic shopping landscape amidst high rates of inflation worldwide. Looking back now, it appears that even as shoppers tightened up their holiday budgets, they sought to support small businesses. According to a study by Kabbage, an Amex company, 86% of U.S. shoppers planned to shop small this year, a big jump from last year’s numbers. And overall, U.S. sales were up 2.3% from last year. Shoppers from Australia to the UK, EU countries like Greece and Italy, Canada, and many more also came out to save some dough this past weekend.
And as all of you veteran bosses know, the holiday shopping season is just getting started. So take some time this week to reflect on what worked, what kinda worked, and what didn’t this past weekend to prepare for upcoming promotions or note them for next year’s. We’ve also got some links to help you get your finances in order and want to encourage you to fit in some extra self-care to see you through the holidays.
Black Friday By The Numbers
- Shopify retailers set a new Black Friday record with $3.36 BILLION in sales. (article)
- Mobile commerce continues to win big. Read Retail Dive’s list of Black Friday winners and losers to get the details. (article)
- But people are returning to stores. In-store shopping was up almost 20% from last year. (article)
- If you love a good graph, Adobe just dropped their analysis of 2022 holiday shopping trends & insights. (report)
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Get yOUR mONEY rIGHT
- Seasonal forecasts aren’t just for meteorologists. Learn how to create a sales forecast for your business AND get a free spreadsheet template. (article + free download)
- To create an effective financial plan, you’ll need to identify your operating cash flow. (article)
- Planning for the short term? Don’t forget the long term and vice versa. Read about why you should be doing both. (article)
- What’s your retirement plan, boss? Listen to episodes #329 and #330 to learn why you should have one and how to get started with our guest for this two-part series, Sarah Becker. (podcast episodes)
- Don’t let taxes be the death of you (or your biz). Here are all the important U.S. December 2022 deadlines you need to know as a small business owner. (article)
Stop Chasing pAYMENTS*
Tired of late payments from clients and customers? Not only does it mess with your cash flow, but it’s also just awkward. As the boss of your business, we know you have enough to worry about. So why not let FreshBooks chase down those unpaid invoices for you?
Save time and avoid awkward client exchanges about overdue payments. Let Freshbooks send your custom invoices and stay focused on the other things that need your attention.
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*This is sponsored by our friends at Freshbooks.
What’s Fresh (In Self-Care)
- We love a good journal prompt. Here’s a prompt for every feeling you might be having right now. (article + prompts)
- Take a lazy day on the couch. And if your favorite way to unwind is watching a movie or TV series, check what’s coming + going at Netflix in December. (listicle)
- Struggling with fatigue throughout the day? Here’s what one nutritionist and holistic wellness expert does to avoid dips throughout the day. (article)
- Protect your energy this holiday. It’s hard to set boundaries with family, but not impossible. (article)
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