What is Small Business Saturday?
Small Business Saturday is an annual event that takes place on the Saturday after Thanksgiving in the United States. It was pioneered by American Express in 2010 following the global recession, which caused many small businesses to close their doors. The idea was to create a day that celebrates and supports small businesses and their communities.
Since then, Small Business Saturday has grown into a global movement, with millions of consumers and thousands of businesses participating every year. According to American Express, in 2022, consumers spent an estimated $19.8 billion at independent retailers and restaurants on Small Business Saturday, up from $17.8 billion in 2021. This represents a significant increase in spending and awareness for small businesses.
Why is Small Business Saturday important?
Small Business Saturday is important for several reasons. First, it helps small businesses generate more revenue and visibility, especially during the holiday season, which is crucial for their survival and growth. Second, it helps consumers discover and support local and diverse businesses that offer unique products and services, as well as contribute to their communities. Third, it helps create a sense of solidarity and community among small business owners and customers, who share a common goal of supporting the local economy and culture.
Small businesses face many challenges, such as high costs, low margins, limited resources, and fierce competition. They also have been disproportionately affected by the covid-19 pandemic, which has disrupted their operations and reduced their customer base. By shopping small, consumers can help small businesses overcome these difficulties and thrive in the long run.
How are small businesses preparing for Small Business Saturday?
Small businesses are preparing for Small Business Saturday in various ways. Some of the common strategies they use are:
- Offering discounts, deals, and incentives to attract customers and increase sales
- Creating online and social media campaigns to promote their products and services and raise awareness of their brand and story
- Partnering with other small businesses and organizations to create cross-promotions and collaborations
- Participating in local events and markets to showcase their products and services and connect with customers and community members
- Providing exceptional customer service and experience to create loyal and repeat customers
Some examples of small businesses that are doing these things are:
- Kinfield, a skincare brand, created the Better Together campaign to help customers find female- and BIPOC-owned brands to shop from during the holiday season. They included sustainable companies like Pineapple Collaborative and OUI The People. They also encouraged their audience to tag other businesses in the comments of their post.
- Cafe Du Chateau, a coffee maker brand, offered a 20% off coupon code for customers who shopped on Small Business Saturday. They also shared customer reviews and testimonials on their website and social media to highlight the quality and benefits of their products.
- Lands Downunder, a home decor brand, partnered with Blueair, an air purifier brand, to create a bundle deal for customers who wanted to improve their indoor air quality and comfort. They also donated a portion of their sales to the American Lung Association, a nonprofit organization that supports lung health and research.
How can consumers support small businesses beyond Small Business Saturday?
Small Business Saturday is a great opportunity to support small businesses, but it is not the only one. Consumers can support small businesses throughout the year by:
- Shopping from them regularly and recommending them to their friends and family
- Following them on social media and engaging with their posts and stories
- Writing positive reviews and feedback on their websites and platforms
- Signing up for their newsletters and loyalty programs
- Joining their events and activities and inviting others to join
- Donating to their causes and campaigns
Small businesses are more than just businesses. They are also part of our communities and our lives. By supporting them, we are also supporting ourselves and our society. Let’s make every day a Small Business Saturday!
