Words From The Efficiency Experts

Small Business Saturday

Posted by Bethany Wood on Fri, Nov 29, 2019

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Small Business Saturday is an annual tradition that occurs the Saturday after Thanksgiving. Locals are encouraged to “shop small” and show support to the diverse businesses in their community. The holiday was created by American Express in 2010 and has seen rapid growth every year since.

Shopping and supporting small businesses helps give a huge boost to your local economy. America is home to 30.2 million small businesses. 99.9% of all US Businesses are small businesses. These shops make our communities diverse and unique.2 Small Business Saturday gives local shops an opportunity to compete with the large retailers and online merchants. Local businesses offer unique items and special experiences.

Small Business Saturday offers a huge help to these establishments, with some shop owners mentioning upwards of 35% of all business occurs between Thanksgiving and Christmas. Some businesses reported a 126% sales increase on Small Business Saturday while others reported their best sales numbers to date, with 900 new customers.3

When you shop small, shopping becomes an experience rather than a task. You can get acquainted with shop owners and learn the history of the products they sell and the item you’re purchasing. You can ask for help and gain new insights and information on your items if needed. You make a connection with your community when you choose to shop and dine locally.

Moreover, you’re benefiting your entire community by shopping or dining local. Statistically, small businesses donate 250% more than larger businesses to non-profit and community causes.3 Also, more of your dollar goes back into your local economy. If you spend $100 at a large business, $43 stays in the local economy. If you spend the same $100 at a local business, approximately $68 stays in the local economy.3

If you’re searching for special gifts this holiday season or want to treat your visiting family to a nice meal out, consider looking at what your local community has to offer. American Express has a great tool here that allows you to find all the local businesses in your area.

Happy Shopping! 

Sources:

  1. https://www.foxnews.com/opinion/small-business-saturday-shows-the-big-economic-benefits-of-shopping-small
  2. https://www.forbes.com/sites/mikekappel/2018/10/31/4-reasons-to-support-small-companies-on-small-business-saturday-and-beyond/#248d68907bdd
  3. https://grasshopper.com/resources/articles/small-business-saturday-statistics/

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