Small Business Saturday is a hit with holiday shoppers
Small Business Saturday is a hit with holiday shoppers Small Business Saturday made a significant contribution to their overall holiday sales this year.
Half of respondents to a Small Business Saturday survey conducted by the company in October said they expect to participate in the event, and 85% said they anticipate shopping small this holiday season.
The company reports that consumers have spent nearly $184 billion during Small Business Saturday over the past 13 years. Seventy-two percent of shoppers surveyed by American Express said that Small Business Saturday last year inspired them to shop and dine at small, independent retailers throughout the year. Last year, American Express estimated that Small Business Saturday generated nearly $18 billion in consumer spending.
Veterans Growing America, an organization that supports veteran- and military-spouse-owned businesses, said Small Business Saturday is beneficial because it creates awareness about shopping small. The number of people who come out to support small businesses has definitely increased over the past few years, he said.
Ken Moorman, owner of Jirani Coffeehouse in Manassas, Virginia, has seen an average 10% increase in sales on Small Business Saturday.
Prior to Covid, (Small Business Saturday) was big, and last year, it started picking up again,” Moorman said, adding that he expects even more participation this year. It is no secret that small businesses are the backbone of the American economy.
In 2010, American Express launched the Small Business Saturday campaign to encourage holiday shoppers to support local small businesses. The event has become a mom-and-pop counterpart to Black Friday, which is often dominated by national and multinational corporations. According to federal data, this year’s holiday comes at a particularly good time for small independent entrepreneurs, which has been cosponsored by the Small Business Administration since 2011.