Small Business Saturday Looks Bright This Year, Plus More ‘Shop Local’ Insights

Small Business Saturday – which started as a campaign by American Express in 2010 to support local businesses during the recession and became an official event recognized by the U.S. Senate in 2011 – generated $17.9 billion in revenue for small businesses last year. This annual event allows locally-owned stores to tap into the holiday shopping season and compete with large retailers on Black Friday and Cyber Monday. As we approach the holiday season, there is good news for small businesses that rely on Small Business Saturday to boost their sales. According to a recent survey conducted by CivicScience, 56% of people in the United States plan to shop local this year. This is great news for small businesses, as it shows that consumers are increasingly aware of the importance of supporting local businesses and keeping their communities vibrant. The survey also found that 40% of respondents plan to spend more money at local businesses this holiday season compared to previous years. This indicates that not only are people committed to shopping local, but they are also willing to spend more to support their favorite small businesses. This is a positive sign for small businesses that have been struggling due to the economic impact of the COVID-19 pandemic. So, what are some of the reasons why people choose to shop local? The survey found that the top reason cited by respondents was to support the local economy (76%). People believe that when they spend their money at local businesses, it circulates within the community and helps create jobs and economic growth. Other reasons included wanting to support small business owners (61%), finding unique and one-of-a-kind products (52%), and enjoying a more personalized shopping experience (45%). Interestingly, the survey also revealed that 51% of respondents believe that small businesses have a better understanding of their needs and preferences compared to large retailers. This perception of superior customer service and personalized attention is a significant advantage that small businesses have over their bigger competitors. By providing exceptional service and building strong customer relationships, small businesses can attract loyal customers who are willing to support them year after year. In addition to the support from customers, small businesses can also benefit from partnerships and collaborations within their local community. The holiday season presents opportunities for businesses to join forces and create special promotions or events that attract customers. For example, several small businesses in a neighborhood could organize a holiday market, where they all set up stalls and offer special discounts or incentives. Collaborating with other local businesses not only increases footfall but also fosters a sense of community and camaraderie among small business owners. Furthermore, small businesses can leverage the power of social media and online marketing to promote their products and services to a wider audience. Many consumers turn to social media for recommendations and reviews, so having a strong online presence is crucial for small businesses. By regularly posting engaging content, sharing customer testimonials, and offering exclusive deals, small businesses can attract new customers and generate buzz around their brand. It is important to note that Small Business Saturday is not just a one-day event. The goal is to encourage people to support local businesses throughout the year, not just during the holiday season. Small businesses can implement strategies to keep customers engaged and coming back even after the holiday shopping rush is over. This could include offering loyalty programs, hosting special events or workshops, or providing personalized follow-up to ensure customer satisfaction. In conclusion, Small Business Saturday presents a significant opportunity for small businesses to boost their sales and generate revenue during the holiday season. With more people planning to shop local this year, small businesses can capitalize on this trend and attract new customers. By emphasizing their unique products, outstanding customer service, and contribution to the local economy, small businesses can differentiate themselves from large retailers and build a loyal customer base. With the right marketing strategies and community partnerships, small businesses can thrive not just on Small Business Saturday, but throughout the year. So, let's all make an effort to support our local businesses and keep our communities vibrant and prosperous.