Memorial Day 2021 brings benefits and challenges to small business

 Remember Memorial Day 2020?

Just two months into the COVID-19 pandemic, restrictions on travel and businesses were tight, and health and safety concerns kept many people at home. For many, the weekend came and went with few, if any, of the patriotic events and veteran celebrations that typically mark this important, solemn day. For small businesses, it also came and went without the financial boost they rely on during the holiday week.

We’ve made several steps toward normalcy in the past several weeks, making the outlook for Memorial Day 2021 more optimistic. Across the country, restrictions are being lifted and people are returning to pre-pandemic levels of traveling, shopping and socializing. In fact, according to a recent AAA travel forecast, more than 37 million Americans are expected to travel this Memorial Day, a 60% increase over last year’s activity. 

What does this mean for small businesses this year?

With this increased mobility comes a wealth of opportunity for business owners. Retailers and restaurants often rely on major holidays for a significant portion of their sales and profits, and a return to a busy Memorial Day could help lift many struggling shops, diners, bars and stores.

Womply, a marketing and CRM group largely dedicated to small-businesses, shows how Memorial Day can be a windfall for companies. For a variety of industries, Memorial Day often ranks in the top ten revenue weeks of the year. For bars, gardening services and nurseries, it’s the fourth-biggest; for furniture and appliance stores, it's the third biggest!

Transactions at nurseries and gardens, for example, are up 84% during Memorial Day weekend. Landscaping and gardening services see an increase of 96%. Bars and liquor stores see a 20% increase in revenue, while meat shops and butchers see a 25% increase.

For businesses, this spike in customer mobility and demand is outstanding news. Retailers and restaurants often rely on major holidays for a majority of their sales and profits, and a return to a busy Memorial Day could help lift many struggling shops, diners, bars and stores.

Clearly Memorial Day is an important time for businesses. But we can’t completely disregard health precautions, which makes Memorial Day 2021 a fine balancing act for businesses. Owners and managers still need to create safe environments for customers and employees. Proper sanitization is essential, and mask wearing and social distancing are still recommended. Arguably, these will be important not only for safety, but for bringing in customers still sensitive to the virus’s impact.

Furthermore, the struggle to find workers in the tightest labor market we’ve seen remains a challenge for businesses who may not be able to capitalize on the increase in customer demand. 

Be safe, be diligent, and be ready for one of the most memorable Memorial Days in recent memory!

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