Specialty retailers have a chance to take center stage next weekend, as awareness of Small Business Saturday continues to grow. Results from the fifth-annual Small Business Saturday Consumer Insights Survey, released by the National Federation of Independent Businesses and American Express, show that more consumers than ever are aware of Small Business Saturday (58% vs. the previous high of 55% in 2015).
Held annually on the Saturday following Thanksgiving, Small Business Saturday was founded by American Express as a response to small business owners’ most pressing need: getting more customers through their doors, rallying communities to support local businesses and helping kick off a successful holiday sales period.
More than six in ten (62%) consumers who are aware of Small Business Saturday and who plan to shop locally on the day say the main reason they plan to shop at small retailers or eat at independently-owned restaurants is because they value the contributions small businesses make to their community. Of consumers who are aware of Small Business Saturday, 89% agree that the day encourages them to Shop Small all year long, not just during the holiday season. Nearly eight in ten (79%) consumers say they 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 – on par with last year. And just how much are they planning to spend? Of those who are aware of Small Business Saturday and planning to shop and dine on the day, two-thirds (67%) say that they plan to spend at least $100 at small businesses on Small Business Saturday – a slight increase from 2015 (65%).
Among U.S. consumers surveyed, 33% of their holiday shopping this year is expected to be done at small retailers or restaurants, on par with last year, while 76% say they will visit at least one small business as part of their overall holiday shopping, also on par with last year. Additionally, 91% reported that supporting small, independently owned bars and restaurants is important to them.
Grassroots support for Small Business Saturday is largely driven by Neighborhood Champions, a program of advocates for Small Business Saturday comprised of small businesses, business associations, local Chambers of Commerce and other community organizers who help to rally their neighborhoods on the day. To date, more than 6,400 Neighborhood Champions – an increase of 56% percent from 2015 – have signed up to plan activities and events to draw consumers to commercial districts across the U.S., leading up to and on Small Business Saturday. In fact, 45% of consumers who are aware of Small Business Saturday and who plan to shop say they plan to attend a community event in celebration of the day.
Another important group that drives participation on the day is the Small Business Saturday Coalition. Led by Women Impacting Public Policy (WIPP), the Small Business Saturday Coalition was created in 2011 to help amplify the Shop Small message. The Coalition is comprised of national, state and local associations that help coordinate Small Business Saturday activities with merchants, consumers and small business owners.
Each year consumers have made it a tradition to share their Small Business Saturday experiences on social media. This year, consumers and small businesses across the nation are encouraged to show their love for their favorite independent businesses by using the #ShopSmall, #SmallBizSat and #DineSmall hashtags on Facebook, Instagram and Twitter.
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