NFIB, American Express Partnering For Sixth Annual Small Business-Focused Retail Event
The latest results from the fourth annual Small Business Saturday Consumer Insights Survey show that “a record number” of US consumers are planning to support their local businesses this holiday season. The survey, sponsored by NFIB and American Express, found that “55 percent of US consumers report they are aware of” Small Business Saturday, which takes place the Saturday after Thanksgiving and is designed to promote small, local retailers. Additionally, the latest survey found 83 percent of respondents “say Small Business Saturday inspires them to” shop at their small, local retailers throughout the year. The survey also found that “80% of consumers 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,” that customers plan “to do 35% of their holiday shopping at small businesses” on average, that “45% of consumers who expect to shop on the day plan to spend more on Small Business Saturday this year than they spent last year,” and that about 64% of those planning to shop during Small Business Saturday are doing so due to “the contributions that small businesses make to their community.” Commenting on the annual small business shopping event, NFIB President and CEO Dan Danner said, “Small Business Saturday has grown every year and it’s been a big boost to Main Street America. We are very proud to partner with American Express once again this year to promote an event that connects American consumers with their hometown businesses.”
What This Means For Small Businesses
Small Business Saturday is an opportunity for small business owners across the US to highlight their wares for customers, and also emphasize the importance of small businesses in local communities. Fox News pointed out that an Accenture survey found that “40 percent of Americans plan to spend more on holiday shopping this year compared to last year, both in stores and online via computers and mobile devices,” and suggested that small businesses can capitalize on the publicity of the Small Business Saturday event to earn some of this extra revenue.
Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.