Small Business Saturday is a quintessentially American “holiday” created in 2010 by American Express to help spur purchases at small businesses that just mught happen to accept the credit card. This year, the promotion takes place on Saturday, Nov. 26, 2022.
The effort has become increasingly important for smaller retail shops over the years, particularly as online shopping from Amazon and larger retailers has become more and more prevelant. In 2021, 51 million shoppers participated in Small Business Saturday, according to the National Retail Federation. American Express reported that spending among U.S. consumers who shopped at independent retailers and restaurants on Small Business Saturday reached an estimated $23.3 billion in 2021, an increase of 18% from $19.8 billion spent in 2020 and an increase from pre-pandemic spending in 2019 ($19.6 billion).
This year, Nearly 6 in 10 (59 percent) holiday shoppers plan to participate in Small Business Saturday 2022—more than Black Friday (56 percent), according to a report by Bankrate.
The concept is simple: after the rush of Black Friday promotions that started with big stores at malls and continued into the digital age, a day was established specifically to boost the sales of local businesses. These are the entrepreneurs that help the local economy by hiring workers from the area, contributing to the local tax base, supporting local causes, and just being there for shoppers.
American Express put its substantial marketing power behind the effort to “Shop Small,” and the promotion has grown big over the years. The concept received a big boost when Barak Obama was in the White House and participated in Small Business Saturday by shopping at businesses in Washington, DC. Other savvy politicians followed, and promoted their visits to stores in the towns, cities, and states they represent.
Following the arrival of COVID and the resulting pandemic-related shutdowns, consumers made an effort to further support the businesses in their area. This spirit is continuing even as the worst of the pandemic seems to be behind us.
Small Business owners have the ability to download marketing materials to promote their specials, and Amex has smartly provided posters for in-store promotion, as well as digital banners and pre-written social media posts.
Stop by, order online, leave us a review, or tell a friend. It all counts. It all matters. #ShopSmall
Our doors are open! #ShopSmall with us all year long — we appreciate your business!Not every small business is an old fashioned “mom & pop” shop; to compete effectively in 21st century retail, companies must take advantage of online marketing.
Importantly, American Express has launched the #ShopSmall Accelerator, powered by TikTok, was designed with one goal in mind: to grab Gen Z’s attention and turn them into customers. Amex created online resources, provides lessons that’ll come in handy whether you’re a self-proclaimed TikTok pro or have yet to create your first video. Plus, eligible U.S. small business owners can enroll to earn a $100 TikTok promotional ad credit after purchasing $50 or more in TikTok advertising.
Taking advantage of technology enables businesses to become more efficient in all aspects of their operation — from Small Business Saturday marketing promotions to securing capital to finding employees. Internet promotion is indeed an important element of doing something that retailers have been doing for centuries: bringing people into their stores.
The holiday season is all about giving – and the best gift you can give local businesses is your support. Get out there and Shop Small this Small Business Saturday on Nov. 26 to kick off the season in a meaningful way.
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