Small business owners gear up for the biggest shopping weekend
The American Express survey of small business owners found that 55% expect Small Business Saturday to contribute significantly to their holiday sales this year. Half of respondents said they planned to participate in Small Business Saturday this year, and 85% said they were looking forward to shopping small this holiday season, according to a consumer survey conducted by the company in October.
According to the company, consumers have spent nearly $184 billion on Small Business Saturday over the past 13 years. 72% of shoppers said that Small Business Saturday made them want to shop and dine at small, independent retailers throughout the year, according to a survey conducted by American Express. Approximately $18 billion was spent by consumers last year due to Small Business Saturday, according to American Express.
Veterans Growing America, an organization that supports veteran- and military-spouse-owned businesses, says Small Business Saturday is important because it raises awareness for shopping small. Since the last several years, more people have come out to support small businesses, he said.
According to Ken Moorman, owner of Jirani Coffeehouse in Manassas, Virginia, Small Business Saturday results in an average 10% increase in sales.
“Small Business Saturday was huge before Covid, and it started to pick up again last year,” Moorman said, adding that he expects even more participation this year. As we all know, small businesses are at the heart of the American economy.
Small business owners gear up for theat a particularly good time for small independent entrepreneurs, according to federal data. The Small Business Administration has co-sponsored the initiative since 2011.