As businesses prepare for the busy holiday season, new research reveals that the management consulting sector, which includes financial services, may face a £1.9 billion revenue loss from the festive ‘switch off’.
The festive season is often the busiest period for businesses. Yet many workers tend to drop off in their productivity and switch off as they long for their holiday break.
The sales engagement experts at Sopro have delved into government data and surveyed 2,000 workers across the UK to find out which industries suffer the most from the festive switch-off.
The industries with the highest potential revenue loss from the festive ‘switch off’:
| Rank | Industry | Average December turnover | Estimated revenue per productive day | Potential lost revenue |
| 1 | Wholesale trade services, except for motor vehicles & motorcycles | £55.73B | £5.07B | £25.33B |
| 2 | Wholesale & retail trade & repair of motor vehicles & motorcycles | £11.12B | £1.01B | £5.06B |
| 3 | Computer programming, consultancy & related services | £7.30B | £664M | £3.32B |
| 4 | Food & beverage serving services | £5.41B | £491M | £2.46B |
| 5 | Telecommunications services | £4.94B | £449M | £2.25B |
| 6 | Management consulting services | £4.18B | £380M | £1.90B |
| 7 | Architectural & engineering services; technical testing and analysis services | £4.08B | £371M | £1.85B |
| 8 | Office administrative, office support and other business support services | £4.07B | £370M | £1.85B |
| 9 | Warehousing and support services for transportation | £3.85B | £350M | £1.75B |
| 10 | Employment services | £3.56B | £323M | £1.62B |
With an average December revenue turnover of £4.18 billion over the last 25 years, the management consulting sector could potentially be losing out on £1.9 billion in revenue due to the festive switch-off. Management consulting services help businesses improve their performance by providing strategic knowledge and direction, among other support services.
If this revenue loss was avoided, companies in the sector could use the additional funds to enhance their service by hiring skilled experts with a range of expertise relevant to different industries and offering additional training to existing staff. This would make them better equipped to deal with client challenges and win new business, driving growth.
