Reading the forecasts from the economic experts, the outlook appears gloomy. I’m pleased to say that amongst Abacus Alliance members, confidence seems to be higher and the outlook rosier.
Based on 62 responses from members to our recent business confidence survey, we found:
- The majority are currently optimistic. 52% stated they are optimistic about the current business conditions and 39% somewhat optimistic.
- Sales are up this quarter. 53% indicated sales in the last three months were higher than the previous quarter. Only 15% indicated they were worse.
- Nearly half are positive about the next three months: 48% are more confident about the prospects for their businesses in the forthcoming quarter while 45% believe it will be similar to now.
It also appears there have been positive strides to preparing for the GDPR next May. With seven months to go, 22% reported they were as prepared as they could be, based on current guidance. 39% are making good progress and 29% are somewhat prepared so the vast majority are taking action. Only 10% indicated they were not prepared.
In spite of the challenges faced this year, home shopping businesses remain resilient as they enter what, for many, is their key trading period.
To view Lara Bonney’s Insights introduction that highlighted the survey findings, click here.