Tampa Bay Businesses Navigate Post-Summer Challenges, Hope for Holiday Uptick
As Tampa Bay businesses emerge from a challenging summer marked by decreased foot traffic and economic uncertainties, owners are cautiously optimistic about the upcoming holiday season. While some establishments have experienced a slow recovery, concerns linger about whether the festivities will bring the much-needed boost.
Liz Calver, owner of Betty’s Shop in St. Pete Beach, reflects on a notably quieter summer, prompting her to adapt with innovative strategies. Despite an uptick in October due to the onset of the wedding season, Calver remains uncertain about the holiday outlook, emphasizing the challenges faced during an unprecedented summer slump.
Florida businesses grapple with the aftermath of high inflation, impacting customer spending, rising rents, and increased labor costs. The National Retail Federation predicts a 3% to 4% growth in holiday spending, reaching over $950 billion, providing a potential lifeline for struggling businesses.
Ester Venouziou, founder of St. Petersburg’s Shopapalooza, acknowledges the elevated costs and stresses that this year poses a unique challenge, requiring businesses to recover from an unusually tough summer. Small businesses like Betty’s Shop are adopting creative approaches, focusing on events, unique local-themed products, and personalized experiences to differentiate themselves from online competitors.
Bill Herrle, Florida executive director at the National Federation of Independent Business, notes the unseen effects of the labor shortage, where entrepreneurs find themselves handling day-to-day operations instead of focusing on growth. While the holiday season holds promise, profitability might be impacted by ongoing inflation.
Local businesses, including Arnold Jewelers and The Canary, are rolling out incentives and extended hours to attract customers with tighter budgets. Brittney Arnold, marketing director at Arnold Jewelers, emphasizes the importance of the holiday season for family businesses, labeling it as “make or break.”
Allie Padin, owner of The Canary, likens navigating the economic landscape to walking on a tightrope, with uncertainties about future customer influxes. She encourages support for local businesses on Small Business Saturday and emphasizes the vital role of community backing.
Despite initial concerns, some businesses have found creative solutions to spur sales. Linda Muszynski of Tampa boutique Tate and Tilly transformed a stagnant August by introducing a 50% off sales section, ultimately achieving success at the Junior League Holiday Market. While acknowledging economic challenges, Muszynski remains cautiously optimistic, believing that while this holiday season may not be the greatest, it won’t be the worst.