As the holiday shopping season comes to a close (though after-Christmas sales can be very profitable for small businesses, Business.org shared some interesting stats.
When asked about the effects of inflation and supply chain shortages on their businesses, 89% of small business owners say they raised their prices to “counter inflation,” and 37% of customers complained about the higher prices.
The wage gap between CEOs and employees was more a chasm than a mere gap at the country’s top companies. The average CEO earns $21.45 million dollars a year. That’s 400 times more than what an average employee makes ($51,394).
Many of us have seen the dramatic news coverage of “smash and grab” robberies on the news. Less covered but still devastating are the reports of shoplifting at small businesses in 2021. Over the year, 89% of small businesses say they’ve experienced shoplifting, and 54% saw a shoplifting increase. During the peak holiday shopping season, 56% reported a rise in shoplifting.
Holiday prices stock photo by Mmaxer/Shutterstock