"For SMEs, the Christmas trading period represents the year's biggest opportunity. While large retailers have dedicated trend forecasting teams, smaller businesses often rely on gut instinct, and some are proving they can compete by tapping into social media and search data trends that shape consumer demand. To understand how SMEs are turning trends into revenue, especially during the Christmas period, SumUp surveyed 500 small business owners and decision-makers across the UK."
"The findings reveal how SMEs identify emerging trends, the impact trend adoption has had on their business, and the risks involved in investing in trends. As 52% of SMEs in London say Christmas delivers a major revenue boost, with a further 17% marking it as somewhat important, the focus turns to how small businesses are using trends to drive sales during the busiest season of the year."
"Over half (57%) of London SMEs are confident in spotting trends, with 16% describing themselves as very confident, actively tracking and adapting their offerings, while a further 41% said they feel confident enough to make occasional adjustments. Another 24% said they are somewhat confident but struggle to assess which trends are truly relevant to their business, while 11% admit to lacking confidence in spotting trends or not tracking trends at all."
SumUp surveyed 500 small business owners and decision-makers across the UK. Fifty-two percent of SMEs in London say Christmas delivers a major revenue boost, with a further 17% calling it somewhat important. Over half (57%) of London SMEs report confidence in spotting trends: 16% are very confident and actively track and adapt offerings, while 41% make occasional adjustments. Twenty-four percent are somewhat confident but struggle to assess relevance, and 11% lack confidence or do not track trends. Sources of inspiration include industry news and events (35%), social media (35%), customer feedback (28%), competitors (22%), and suppliers (21%); 6% do not seek out trends.
Read at London Business News | Londonlovesbusiness.com
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