The latest Retail Pulse survey from Retail Alliance reveals that 56% of local retailers and small businesses saw growth in their local holiday sales in 2021 compared to 2020. Despite this positive trend, the survey found that 81% of respondents were concerned about inflation, while 78% expressed concerns over ongoing supply chain delays. The survey, conducted in February 2022 among retailers, restaurants, services, and other small businesses throughout Hampton Roads, also found that business confidence for the upcoming six months remained stable, mirroring results from August and November 2021.

Concerns in the Retail Industry

Concerns continue around inflation, supply chain, minimum wage, and virus variants

Survey Findings

NORFOLK, VA. (March 1, 2022) – 56% of local retailers and other small businesses enjoyed growth in 2021 holiday sales from the same period in 2020, according to the latest Retail Pulse survey from Retail Alliance. Inflation was of most concern to survey respondents, with 81% having some level of concern. Delays in the supply chain are not improving for a significant portion either, with an average of 78% expressing concerns. Business confidence for the next six months is looking stable, with very little change to the previous two surveys (Aug and Nov 2021).

Survey Details

The survey, conducted between February 3 and February 14, 2022, received 100 responses from retailers, restaurants, services, and other small businesses, throughout Hampton Roads. The survey included questions about holiday sales comparing 2021 holiday season to 2020 and also to 2019 (pre-pandemic), business challenges, business confidence, supply chain, and minimum wage.

You can view the entire report here.

Question & Answer

What percentage of local retailers and small businesses saw growth in their local holiday sales in 2021 compared to 2020?

56% of local retailers and small businesses saw growth in their local holiday sales in 2021 compared to 2020.

What were the top concerns among survey respondents in the Retail Pulse survey?

The top concerns among survey respondents were inflation, with 81% expressing concern, and ongoing supply chain delays, with 78% expressing concerns.

What was the business confidence outlook for the upcoming six months according to the survey?

The business confidence for the upcoming six months remained stable, mirroring results from August and November 2021.