New Intuit QuickBooks Survey Reveals Increased Consumer Appetite to Shop Small This Holiday Season
21 October 2021 - 11:30PM
Business Wire
QuickBooks Introduces New Way to Shop Small
with Holiday Gift Guide; 93% of Consumers Say Supporting Small
Businesses this Holiday Season is Important
New survey data released today from Intuit (Nasdaq: INTU)
QuickBooks reveals that 93% of U.S. shoppers say supporting small
businesses this upcoming holiday season is more important than ever
because of the pandemic. Furthermore, nearly half of consumers
(48%) are more likely to try new businesses than they were
pre-pandemic, presenting a large opportunity for retail-based small
businesses looking to maximize their holiday sales. In addition to
the newly announced data, QuickBooks also launched its first
QuickBooks Holiday Shopping Guide, a curated list of small
businesses ideal for any shopping list this holiday season.
The QuickBooks Commerce Small Business Shopping Report
highlights data on consumer shopping attitudes toward small
businesses. The survey of 2,000 U.S. adults underscores the
fundamental shift in consumer shopping behavior as a result of the
pandemic - shedding light on both the opportunities and challenges
ahead for small business owners, particularly with the holiday
shopping season approaching.
Despite consumers’ overwhelming support of shopping small, small
business owners need to remove barriers that prevent shoppers from
actually making a purchase. Having an online presence that not only
aids in the discovery of the business but also drives sales is more
critical than ever. Nearly half (48%) of the consumers surveyed
stopped shopping at a store they visited before the pandemic
because the business didn’t have an online store. Additionally, 53%
have considered using a business, but changed their minds because
the business did not have a website. Other key findings of the
research include:
- Consumers value convenience. Nearly half (44%) of
consumers enjoy online shopping because they don’t need to leave
the house, and around a third of consumers like online shopping for
the ease of finding products (33%), speed of researching and
comparing products (32%), and as a result, finding the most
affordable option (31%).
- Technical and shipping issues frustrate consumers. 83%
of online shoppers have experienced technical issues at least once
or twice while shopping or browsing on small businesses’ websites,
posing a threat to sales conversion. Furthermore, shipping is the
biggest challenge for about 29% of consumers who have shopped with
small businesses online, particularly high shipping costs
(22%).
- Consumers want the best of both worlds. For 56% of
consumers, their shopping journey often involves both online and
in-person channels, known as “omnichannel shopping.” This means a
majority of consumers are either looking at products in-store and
then purchasing online, or finding products online and then buying
them in store.
“Our research shows that consumers want to support small
businesses, but they often aren’t able to provide consumers with
the online shopping experience they’ve come to expect, missing out
on potential sales,” said Shilpa Reddy, Vice President of
QuickBooks Commerce at Intuit. “We introduced QuickBooks Commerce
to help small businesses break the barrier of selling online, while
being able to expand to other channels, so that they can adapt and
thrive to the omnichannel shopping experiences consumers
demand.”
Intuit launched QuickBooks Commerce in 2020 to help businesses
manage the business and operational complexities and meet
consumers’ desire for “omnichannel shopping” that includes across
multiple channels. The offering allows businesses to better manage
products, orders, inventory and fulfillment across multiple online
and offline sales channels, so they can expand their customer base
by meeting consumers where they are.
“As a business owner that sells through multiple channels –
direct to consumer, wholesale, Amazon – ensuring that we have one
place to manage all of our inventory and sales is critical,
especially leading up to a busy holiday season,” said Craig Zucker,
founder of Speks. “Managing our inventory and fulfilment across all
sales channels while also integrating seamlessly with our
accounting system through QuickBooks Commerce gives our small team
more time and resources to focus on expanding our customer base and
developing new tactile products to make the world a happier, more
creative, and more productive place.”
Introducing the QuickBooks Holiday Shopping Guide
This holiday season, Intuit is making it easier for consumers to
shop small through a curated small business guide to help shoppers
find creative, bespoke holiday gifts. The QuickBooks Small Business
Holiday Shopping Guide allows shoppers to find and support small
businesses from around the country. The range of QuickBooks
customers and products spotlighted in the guide showcases the
innovations and ingenuity of American entrepreneurs.
The QuickBooks Small Business Holiday Shopping Guide features a
range of inspiring entrepreneurs who offer unique gifts:
- Fashion:
- Hoop Mobb - hoop earrings and related accessories
- Soft & Spun - fun and unique clothing
- Be A Good Person - clothing and accessories to drive
positivity
- Above the Tie - grooming accessories and products with a
vintage feel
- Olamina Botanicals - all natural apothecary
- Food and Beverage:
- CocoTutti - handmade, artisanal sweets and chocolates
- Barred Wood - environmentally sustainable maple syrup
- Corner 103 - limited-product, award-winning wine
- Embrew Tea - naturally sweetened loose leaf grade teas
- Girl Meets Dirt - heritage preserves for sweet and savory
pairings
- Work From Home:
- Effie’s Paper: Stationery & Whatnot - cool and on-trend
accessories and stationery for all ages
- Speks - stress relief desk toys
- Grace+Love Candle Co. - all-natural candles
- Golde - superfood essentials
- Realm Concept Market - clean beauty products
- Kids and Pets:
- The Bean People - well-designed bath time products for kids of
all ages
- Einstein Pets - natural organic oven baked dog biscuits
- Bows Arts - children’s hair accessories
- Tailgating:
- Cache - premium tailgate products and accessories
- Mutt’s Sauce - hot sauce and spices
- Trash Amps - bluetooth speakers using repurposed materials
- Brew and Feed - spices and seasoning sets
Small Business Resources to Support an Omni-shopping
Experience
Beyond the QuickBooks platform’s products and services designed
to help small businesses grow and thrive, there are a range of
online resources from the QuickBooks Resource Center to help small
businesses prepare for the holiday shopping season:
- Guide to E-Commerce Shipping
- 5 reasons to start multi-channel selling today
- How to streamline inventory management
About Intuit:
Intuit is a global technology platform that helps our customers
and communities overcome their most important financial challenges.
Serving approximately 100 million customers worldwide with
TurboTax, QuickBooks, Mint and Credit Karma, we believe that
everyone should have the opportunity to prosper. We never stop
working to find new, innovative ways to make that possible. Please
visit us for the latest information about Intuit, our products and
services, and find us on social.
The QuickBooks Commerce Small Business Shopping Report was
conducted by Wakefield Research among 2,000 nationally
representative U.S. adults ages 18+, between July 28th and August
4th, 2021, using an email invitation and an online survey. The data
has been weighted to ensure reliable and accurate representation of
U.S. adults ages 18+.
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Intuit QuickBooks: Kim Amsbaugh Kim_Amsbaugh@intuit.com Jennifer
Garcia jeng@accesstheagency.com
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