Sales up on Small Business Saturday
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Across the country, small businesses and consumers alike are getting excited to support their favorite local, independent businesses on Small Business Saturday, which takes place this year on Nov. 26. Results from the fifth annual Small Business Saturday Consumer Insights Survey, released today by the National Federation of Independent Businesses and American Express, show that more consumers than ever are aware of Small Business Saturday (58 percent vs. the previous high of 55 percent in 2015). More than six in 10 (62 percent) consumers who are aware of Small Business Saturday and who plan to shop locally on the day say the main reason they plan to shop at small retailers or eat at independently-owned restaurants is because they value the contributions small businesses make to their community.
“Since its inception, Small Business Saturday has brought national attention to supporting the local businesses we love,” said Elizabeth Rutledge, Executive Vice President, Global Advertising and Brand Management at American Express, which founded Small Business Saturday in 2010. “Small Business Saturday reminds consumers of how valuable small businesses are to our communities, and we are incredibly proud to be the founding partner.”
Held annually on the Saturday following Thanksgiving, Small Business Saturday was founded by American Express as a response to small business owners’ most pressing need: getting more customers through their doors, rallying communities to support local businesses and helping kick off a successful holiday sales period.
Of consumers who are aware of Small Business Saturday, 89 percent agree that the day encourages them to Shop Small all year long, not just during the holiday season. Nearly eight in 10 (79 percent) consumers say they are willing to pay slightly more for an item if it is purchased from a small, independently-owned retailer as opposed to online or at a large retailer – on par with last year. And just how much are they planning to spend? Of those who are aware of Small Business Saturday and planning to shop and dine on the day, two-thirds (67 percent) say that they plan to spend at least $100 at small businesses on Small Business Saturday – a slight increase from 2015 (65 percent). Among U.S. consumers, the Small Business Saturday Consumer Insights Survey found:
—On average, one-third (33 percent) of their holiday shopping this year is expected to be done at small retailers or restaurants – on par with last year.
—76 percent say they will visit at least one small business as part of their overall holiday shopping, on par with last year.
—Additionally, 91 percent reported that supporting small, independently- owned bars and restaurants is important to them.
“Small businesses across the nation are often run by the friends, family and neighbors that we know so well, so supporting them is not only personal but critical to their success,” said NFIB CEO and President Juanita Duggan. “Partnering with American Express to promote the awareness and importance of shopping small is something we are very proud of, and this year, we look forward to another successful Small Business Saturday.”
Nearly half (48 percent) of consumers who are aware of Small Business Saturday and who plan to Shop Small on the day say they expect to spend more on Small Business Saturday this year than last year – up from 45 percent in 2015, and the highest amount yet recorded.
