Reports measuring everybody’s expectations for the coming Christmas and new year are starting to trickle in, and the news is likely to put a smile on retailers’ faces.
With Facebook, Instagram, Snapchat, Twitter, YouTube and Pinterest popping up alongside all the traditional media channels, companies are spoiled for choice on how to communicate with their customers these days. The only problem is that a significant amount of budget is being spent on the wrong choices.
The traditional Father’s Day presents of books and sporting goods may reign supreme, but flowers are also becoming increasingly popular. Data released by Paymark has tracked the trends in spending over the celebratory day and showed an overall decrease in spending.
Retail and hospitality small to medium sized businesses are growing at a faster pace than other sectors in the SME space, yet with that comes extreme competitive pressure. Of the retail and hospitality SMEs surveyed for the MYOB Business Monitor, 44 percent experienced a jump in revenue in the year to March 2016, compared to the national average of 37 percent.