Small Business Saturday is an annual event that celebrates local small businesses and encourages people to shop and dine at small stores. It takes place on the Saturday after Thanksgiving, which is November 25 for 2023. This year, small businesses are gearing up for the biggest shopping day of the year with various strategies and promotions.
The Impact Of Small Business Saturday
Small Business Saturday was launched in 2010 by American Express as a way to counter the dominance of big box retailers and online giants on Black Friday and Cyber Monday. Since then, it has grown into a nationwide movement that highlights the importance of supporting local businesses.
According to American Express, over the past 12 years, consumers reported spending an estimated $163 billion at small businesses on Small Business Saturday. The event also helps raise awareness and loyalty for small businesses throughout the year.
Small businesses are vital for the local economy and the community. They create jobs, pay taxes, and offer unique products and services that cater to the needs and preferences of their customers. They also contribute to the local identity and culture, making their towns and cities more diverse and vibrant.
The Challenges And Opportunities For Small Businesses In 2023
The year 2023 has been a challenging one for many small businesses, especially those in the retail and hospitality sectors. The COVID-19 pandemic, supply chain disruptions, labor shortages, and rising costs have all affected their operations and profitability.
However, there are also opportunities for small businesses to thrive in 2023. The pandemic has also increased the demand for local and personalized shopping experiences, as well as the appreciation for small businesses that have supported their communities during the crisis.
According to a survey by American Express and the National Federation of Independent Business, 88% of consumers said they plan to shop or dine at small businesses for the holidays this year, and 77% said they are more aware of the positive impact of shopping small since the pandemic began.
The Strategies And Promotions For Small Business Saturday 2023
To attract and retain customers on Small Business Saturday and beyond, small businesses are employing various strategies and promotions. Some of the common ones are:
- Offering discounts, coupons, gift cards, or freebies to customers who shop or dine at their stores on Small Business Saturday.
- Hosting events, workshops, live music, or special in-store experiences to create a buzz and draw customers to their stores.
- Partnering with other local businesses, organizations, or influencers to cross-promote their products and services, or to create bundles or packages that offer more value to customers.
- Leveraging social media, email marketing, or online platforms to showcase their products and services, share their stories, and engage with their customers and prospects.
- Participating in local campaigns, initiatives, or directories that promote Small Business Saturday and highlight the benefits of shopping small.
Small Business Saturday is a great opportunity for small businesses to showcase their value and connect with their customers and community. By offering unique and personalized shopping experiences, small businesses can stand out from the crowd and gain a loyal following.
