Time to get ready! This year holiday shoppers will make a renewed effort to “shop small” and support the businesses in their local community. Small business Saturday will be held on November 25, the day after Thanksgiving. It’s an opportunity for your business to get new customers, and to benefit from the promotional opportunities generated as a result of this popular national movement. The annual shopping holiday calls attention to the critical role small businesses play in growing the economy and creating jobs. Credit Card Issuer, American Express gave birth to the idea over a decade ago during the height of the recession to help small, independent businesses get more customers.
Educating Consumers to Shop Small
However, educating consumers about the facts related to these businesses has also prompted shoppers to respond favorably to a day that now flourishes due to numerous grassroots efforts. “What began as an effort to support local stores during the holiday shopping season has become the Shop Small movement, bringing together millions of shoppers, small businesses of all kinds, civic leaders and organizations in thousands of towns and cities across the country,” said Elizabeth Rutledge, Chief Marketing Officer at American Express. “Shopping small has a significant and positive effect on local communities, and we hope Small Business Saturday will help amplify that effect during the crucial holiday shopping season. When we spend local, small businesses thrive. And, when small businesses thrive, we all thrive.
According to the National Retail Federation. A record 196.7 million people shopped in-store and online over the 5-day period from Thanksgiving Day to Cyber Monday in 2022.
- 76 percent of consumers shopped over Thanksgiving Weekend
- Sales increased 17 percent in brick-and-mortar stores
- Sales were 10 percent higher in 2022 than 2021—exceeding expectations by $30 million
Shoppers Think Support is Important
Small business Saturday is a win-win for businesses and consumers. As more shoppers become aware of the day and the reason why it exists, participation and support for businesses has grown “The Thanksgiving holiday shopping weekend is a tradition treasured by many American families,” said NRF President and CEO Matthew Shay. “As inflationary pressures persist, consumers have responded by stretching their dollars in any way possible. Retailers have responded accordingly, offering shoppers a season of buying convenience, matching sales and promotions across online and in-store channels to accommodate their customers at each interaction. The majority of respondents (94%) value the contributions small businesses make to their community.
- Due to the shift towards online shopping, 65 percent of consumers will seek out small. Independently-owned retailers online
- Seventy-six percent plan to shop online on Saturday, November 25
Resources to Promote Shop Small
In addition to small businesses and local organizations, there are thousands of community organizers who have joined together as Neighborhood Champions to promote Small Business Saturday. To find out more about creating customized marketing materials, or get ideas to make the day successful, you still have a little time. ShopSmall.com has the resources you need to get them completed before November 25. For details, visit:
Share, Tweet and Instagram Your Support
Join the online community to show your support. Post information on your website to encourage customers to share the information with family and friends. Use the hashtags #ShopSmall and #SmallBizSat. The Small Business Saturday Facebook page lets consumers RSVP to receive minders. Use the Shop Small GIFs to create an instant connection to the day’s activities.
Promote “Shop Local” Year Around
Today’s “shop local” movement is a cause Home Improvement Retailers can heartily support for a variety of economic and customer-centric reasons. In general, customers prefer to purchase products and services from someone they know rather than from a stranger who works in a big box. You can benefit economically from the trend to shop in the community by creating promotions and displaying signage that encourages customers to buy from your store throughout the year. On average, launching a “shop local” campaign can result in a 47 percent increase in new customers and a 55 percent increase in customer loyalty.