Small Business Saturday, held on the Saturday after Thanksgiving each year, has become a beloved shopping event for many Americans. Founded by American Express in 2010, the day urges consumers to shop at small businesses in their communities. Taking place between Black Friday and Cyber Monday, Small Business Saturday (SBS) has emerged as an important day for small businesses to attract new customers and bolster sales.
Despite the challenges of the pandemic, SBS 2021 was a great success, with sales totaling $19.8 billion, up from $19.6 billion in 2019. As we look ahead to SBS 2023, there are several reasons why it is shaping up to be the biggest yet.
The Growth of E-Commerce
E-commerce has become more prevalent in recent years, and the pandemic has only accelerated that trend. Many small businesses have adapted by expanding their online presence or launching online stores. This shift has allowed small businesses to reach new customers beyond their immediate communities. In fact, according to Adobe Analytics, online sales on SBS 2021 increased by 10% compared to 2020.
As e-commerce continues to grow, it is likely that SBS 2023 will see even more small businesses participating both in-person and online. Small businesses can leverage their unique offerings and customer service to stand out among larger online retailers.
Increased Awareness of Supporting Small Businesses
The pandemic has highlighted the importance of supporting small businesses, and consumers are taking notice. According to a survey by American Express, 73% of consumers stated that they are more conscious of supporting small businesses since the pandemic began. This sentiment was evident during SBS 2021, with consumers making a conscious effort to shop small and support their local communities.
As consumers continue to prioritize supporting small businesses, SBS 2023 is set to be a vital day for small businesses everywhere. Small businesses can capitalize on this growing awareness by highlighting their values, unique products, and personalized service to attract new customers.
Participation of Major Brands
The success of Small Business Saturday has not gone unnoticed by major brands. In fact, many of them have begun to participate, partnering with small businesses to offer exclusive deals and promotions. For example, in 2021, American Express partnered with Etsy, Uber, and DoorDash to offer benefits to small businesses and consumers.
This partnership model can help small businesses gain exposure to large audiences and promote their offerings in unique ways. As more major brands partner with small businesses, SBS 2023 is set to be an enormous opportunity for small businesses to gain exposure and attract new customers.
In Conclusion
Small Business Saturday 2023 is set to be the biggest yet for several reasons. The growth of e-commerce, increased awareness of supporting small businesses, and the participation of major brands are all contributing factors. Small businesses can capitalize on this opportunity by preparing early, highlighting their unique offerings, and promoting their values. By participating in SBS 2023, small businesses can attract new customers, increase sales, and continue to thrive in their local communities.
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