Nearly Half Of Canadian Small Retailers Are Relying On Support From Their Communities To Survive The Holiday Season: Intuit QuickBooks Canada

This holiday season will be unlike any other as Canadian small business owners and consumers face increasing Covid-19 restrictions in recent weeks. And though small businesses are cautiously optimistic that they are better prepared this year (46%), they are faced with hurdles ranging from large retailer competition to cost-cutting consumers.

Intuit QuickBooks Canada has released the results of a holiday sentiment survey, capturing key findings from at least 500 small business owners across the retail and hospitality industries in Canada, and 1,500 consumers to understand holiday shopping trends, and the sentiments of small business owners weathering the holiday season in a pandemic.

Key findings on the sentiment of Canadian small business owners include:

  • Almost half of Canadian small business owners (46%) feel their business is better prepared to survive this holiday season
  • Nearly half of Canadian small business owners (41%) are optimistic about their business and expect an increase in sales during this holiday season, and about a third (32%) expect sales for their business will increase by up to 15% this holiday season, due to COVID-19
  • However, about half of Canadian small business owners (48%) say they need help from the community and customers through the holiday season
  • And nearly half of Canadian small business owners (46%) are worried that larger big box brands will impact the success of their business through the holidays

Despite the cautious optimism of SMBs, there is a disconnect among consumers:

  • Nearly half of Canadian consumers (48%) care more about small businesses and want to do more to help support them
  • However, half of Canadian consumers (50%) will be shopping from large stores for the holidays
  • And only 18% of Canadian consumers will be doing most of their holiday shopping from small businesses while 17% will be spending more to help support small businesses
  • Finally, about a third of Canadian consumers (34%) will be cost-cutting this holiday season, spending less than last year to save money

It’s been a challenging year, and small business owners are feeling the impacts of Covid-19 especially hard. With many parts of the country in, or potentially approaching another lockdown, it’s never been more important for Canadians to show their support. 

You can read the full release here.

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