Amid generally positive signs of a slowly strengthening economy, the news for many domestic small and local businesses continues to suggest that sales of their products and services remains weak, while so-called "big box" retailers report improving demand for consumer electronics and other high-ticket imports. "Fantastic Friday" represents another chance for retailers and shoppers to pump life into a listless economy.
Online PR News – 24-December-2010 – – As the end of the 2010 Holiday Season rapidly approaches, a relatively new euphemism has gained currency in the lexicon of the retailing world: "Fantastic Friday". Unfamiliar to most shoppers, this new invention comes on the heels of "Black Friday", "Cyber Monday", and "Small Business Saturday".
For retailers still suffering and recovering from the worst recession in decades, any opportunity to pump more energy into the typically weary Christmas Eve shopping scene is too good to pass up. Many retailers are expected announce major incentive discounts on this last day of shopping for Christmas 2010.
Meanwhile, many small and local businesses remain unaffected by the seasonal surge in retail activity. For most small businesses, the economic recovery has yet to arrive. The much vaunted "Small Business Saturday" event, ostensibly designed to encourage patronage to the "Main Street" local and small businesses that form the backbone of the U.S. economy reportedly has had little impact on sall and family businesses nationwide. Competition for spending dollars is fierce and it is most small businesses can't compete with large retailers and discount chains.
Fundamental changes in the U.S. economic landscape may require that they reinvent their business models to adapt to the new smaller economy by becoming more sophisticated about their use of online marketing. Indeed, social media and technology may ultimately pave the way for savvy small businesses to survive and thrive. Social media networks, such as Facebook, may provide opportunities for nimble small businesses to thrive and survive.