Last year consumers stepped out and shopped locally on the day between Black Friday and Cyber Monday, and this year they are expected to spend as much, if not more, according to a new study.
Small Business Saturday, which was launched five years ago, is gaining recognition amongst consumers. More than half of the people surveyed for the third-annual Small Business Saturday Insights Survey said they are familiar with the day, and 82% of them indicated they will be out on November 29 shopping at small retailers, and chowing down at local restaurants.
Survey results were released by the National Federation of Independent Business (NFIB) and American Express just in time to get business owners excited.
A thumbs up from consumers
Nearly all respondents said that shopping at local merchants made them feel good. On average they estimate that they will be doing about a third of their holiday shopping at small businesses. Why? There were two outstanding reasons – two-thirds said they wanted to make a contribution to their community and over half know the owners of the shops they patronize.
What about the rest of the year? More than three-quarters report that all the hoopla around Small Business Saturday reminds them to shop at local establishments throughout the year.
A shopping incentive from American Express
American Express is sweetening the pot for cardholders with a $10 statement credit. All they need to do is register their American Express card on shopsmall.com.
Then on Small Business Saturday when they buy something at a qualifying small business they get the $10 credit. They can get up to three credits that day. Qualifying businesses in their area can be found on the website.
With the fifth anniversary of Small Business Saturday American Express has added some extras and special events, including:
- Making “Main Streets” around the U.S with the help of leading designers before the shopping begins.
- Commissioning street artists to create Shop Small murals in a dozen areas, including Atlanta, Baltimore, Boston, Chicago, Dallas, Los Angeles, Miami, New York, Seattle, Portland, San Francisco, and Washington, D.C.
- Teaming up with Etsy to introduce small business owners to local artisans, by hosting local Trunk Shows, with 200 stores participating in that event.
Overall, some 3,000 small businesses will be taking part in the festivities this year. The survey was conducted October 20-30 with a survey sample of 1,999 adults.