Small Business Saturday launches this weekend driving sales at mom & pops, independently owned and locally based businesses.
American Express reports its research shows an average two-thirds of every dollar spent at small businesses in the U.S. stays in the local community. Also, every dollar spent at small businesses creates an additional 50 cents in local business activity as a result of employee spending and businesses purchasing local goods and services.
The survey found that nine in ten consumers believe it is more important than ever to support small businesses this holiday season, and 83% plan to do at least some portion of their holiday shopping at a small, independently owned retailer or restaurant – either in person or online. On par with previous years’ celebrations, nearly six in ten U.S. consumers reported being aware of Small Business Saturday, and among those, 80% plan to go out and Shop Small at independently-owned retailers or restaurants on the day.
Why Small Business Saturday
Additional results of the survey:
• A majority of consumers (94%) value the contributions small businesses make in their community;
• As consumer shopping habits shift further online, nearly two-thirds (65%) are likely to seek out small, independently-owned retailers when shopping online, including 59% who plan to Shop Small online this Small Business Saturday; even 40% of consumers say they will shop with a small retailer online this Cyber Monday;
• Among consumers who plan to shop on Small Business Saturday:
◦ Nearly all (96%) said Small Business Saturday inspires them to go to small, independently-owned retailers or restaurants that they have not been to before, or would not have otherwise tried;
◦ Plans to shop include visiting independently-owned bakeries (40%); clothing, accessory and shoe stores (40%); restaurants, bars and pubs (37%); bookstores (32%); and gift, novelty and souvenir stores (30%).
American Express created Small Business Saturday in 2010 as a way to help small businesses get more customers, and the celebration has since become an annual shopping tradition on the Saturday following Thanksgiving.