Small Business Saturday is an annual shopping holiday held on the Saturday after Thanksgiving in the United States. It was started by American Express in 2010 to encourage shoppers to support small local businesses. Here are three important facts you need to know about Small Business Saturday.
Fact #1: Small Business Saturday is Growing
Small Business Saturday has grown significantly since its inception in 2010. In fact, in its first year, only 27% of Americans were aware of the shopping holiday. However, according to a survey conducted by the National Retail Federation, as of 2020, 81% of American consumers were aware of Small Business Saturday. In 2019, U.S. customers spent an estimated $19.6 billion dollars on Small Business Saturday, a significant increase from the $14.2 billion spent in 2014.
Fact #2: Small Businesses Benefit from Small Business Saturday
Small Business Saturday has proven to be a catalyst for growth for small local businesses. According to the American Express 2020 Small Business Saturday Consumer Insights Survey, 62% of consumers made a conscious effort to shop at small businesses on Small Business Saturday. Additionally, 97% of consumers who shopped on Small Business Saturday said that it positively impacted their opinion of small businesses. Small Business Saturday provides an opportunity for small businesses to increase their exposure to new customers and sales.
Fact #3: Small Business Saturday Supports Local Communities
Small Business Saturday is more than just a shopping holiday. It is a day that supports the growth and development of local communities. Small businesses are often owned by individuals and families who live within their communities. When you shop at a small business, you are not only supporting the business owner, but you are also supporting the community that the business serves. Studies have shown that for every $100 spent at a small business, $68 stays within the community.
In conclusion, Small Business Saturday is a shopping holiday that is growing in popularity and provides significant benefits to small local businesses. When you shop at a small business on Small Business Saturday, you are not only supporting the business owner but also the community that the business serves. So, if you want to make a positive impact in your community, make sure to shop small on Small Business Saturday.
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