‘Celebrate the small wins’: Businesses review 2022 sales, growth and challenges

RALEIGH, NC (WTVD) — When the holiday sales rush is over, small businesses will be able to find the best deals in 2018. They are maximizing both the positives and negatives presented in 2022.

“We had a record-breaking year in 2021, and that’s in the first half of 2022. We’ve definitely seen our customers coming back to the store to shop,” said Kayla Brewer-Czech, owner of Voda. Boutique in North Hills.

Beer-Cheek, an NC State graduate, worked for Belk before opening her store in downtown Raleigh in 2017.

“In those first two and a half years, I had to be really creative, really smart, and quick on my feet and resourceful. Like a real asset. Because there were days when there were no sales,” he explained.

Beer check She said the move from her original location to North Hills in 2019 made a big difference, fearing a loss if the new location didn’t open. In the year She said they were able to take advantage of the increased traffic before the pandemic-induced lockdowns in 2020, which her business was well positioned to face.

“Thankfully our online store was live and safe, and like many of my peers who own retail, I didn’t have to run around during that time. That helped us a lot. We stayed connected. From the beginning, our customers were mostly through social media, and having the website was a huge tool to help us keep the lights on.” Brewer-Czech said.

Beer-Cheek says her initial struggles helped prepare her for the ups and downs of the pandemic, and she continues to take a hands-on approach to all her business endeavors.

“When someone feels good about what they’re wearing, their confidence shines,” she said.

With overall sales ending this year, beer-checks are down compared to 2021, with the holiday season being a major part of the final quarter of the year.

“The cost of living has gone up, so it’s very difficult for people to go and spend on anything we offer here at Voda when it’s $4 on clothes, jewelry or accessories that they don’t necessarily need, or eggs. It should be $1.99,” Brewer-Cheek explained.

Rising wholesale prices on products have forced them to raise prices, another hurdle small businesses are facing as they work to reach consumers where they are.

“If anything, we’re a little bit overkill, because we were slated to continue at the level we were at the end of 2021, and that didn’t happen,” Brewer-Czech said.

A report from the U.S. Commerce Department this month showed that while October brewers and commercials were down nearly 17% year-over-year, beer-checks and other retailers are also offering discounts to clear space.

“When I started the business, I didn’t know that the economy would go down. And it affects everything. It affects the supply chain, it affects business decisions. It really has a big impact on what your company is. What your company is going to be, how you change, you have to be flexible, you have to be fluid. You have to. If you’re too stubborn, especially in economic terms at a time like this, then you can probably run. There are some problems,” added Siy Klugman, who launched his eyewear company Les Monts in April.

Now a sole proprietor, Klugman has teamed up with a marketing company to generate mass and awareness.

“In terms of retailers, my B2B business, that was something I did when I was walking around New York City with a suitcase and the collection and going from store to store and seeing if anyone wanted to see the collection,” Klugman explained.

It has found success with social media pushers, showing significant improvement in web traffic when campaigns are running. Gaining an understanding of consumer habits, as well as what works and what doesn’t, is a learning experience.

“I’m a designer by business, I’m an artist by business,” Klugman said, adding that he’s excited to be getting experience running every company.

Visiting brick-and-mortar locations gave them the opportunity to both get direct feedback and improve sales while learning more about consumer habits.

“When you talk to an optician or a buyer who knows their eyewear and is willing to put it in the store with other brands that have a good reputation, that’s a very good indicator to get,” Klugman said.

Although sales dipped in November, October was his best month before rebounding from previous weeks. It’s hoping to carry that momentum into 2023, its first anniversary, a feat the Bureau of Labor Statistics says about 20% of businesses won’t reach.

“It’s a challenge to weather that storm. There are a lot of ups and downs, and I think you have to celebrate the small victories, when you have a good week, you have to be very happy about it,” Klugman said.

As he works to grow his business, he has pledged to donate some of his proceeds to Mental Health America, with the goal of lowering the stigma.

“Throughout my life, there are people, friends, family, counselors, people who have dealt with mental health struggles, at one point or another, not being in the best headspace, and it’s not something I always think gets the recognition it deserves because maybe it’s not something you can always see,” Klugman said. More brands have made efforts to highlight their social missions.

According to the National Retail Federation, November sales rose 6.5% year-over-year, although slightly down from October; December results are expected in January.

A report released earlier this month from the National Retail Federation and April Retail showed that the average return rate remained flat at 16.5%.

“Timing is key. Many stores change their return policies around the holidays. So you have to be up to date on those. It could be 45 days, it could be 10, it could be a week. So make sure you’re knowledgeable about return policies before you return,” Better Business Bureau said. Communications Specialist Nick Hill said.

Some brands and stores only offer store credit instead of returning to the original form of payment. Make sure you keep receipts for any items purchased.