Small Business Saturday: Resources for Small Business Owners and Special Events for Consumers11/25/2024
Learn how to foster shopping small and where to pick-up gifts this season.Small Business Saturday is an annual event that takes place nationwide on the Saturday following Thanksgiving. This year it falls on Saturday, November 30, and presents opportunities for small businesses to encourage their community to shop small in anticipation of the holiday season. Tools and Resources for Small Business Owners Originally founded by American Express in 2010 as a way for small businesses, devastated by the financial crisis of 2008, to increase web and foot traffic to their organizations. Since its inception, consumers have spent an estimated $201 billion with small businesses on Small Business Saturday. This season marks the 15th anniversary of the campaign, and American Express has released new marketing resources for business owners. In addition, the U.S. Chamber of Comme4rce has released social media materials and guides for small business to help make the most of the event: Economic Outlook for the Holiday Season Designating a day in their honor reminds us that small businesses rely on our patronage during critical consumer shopping seasons as well as year-round. This year, support for small businesses is especially important as consumers are expected to spend $191 less at small businesses this holiday season, a 40% downturn from last year, as rising costs and continued inflationary pressures are causing a pull back on spending. This could cause a strain on small businesses who rely on holiday sales to drive profit, as 61% say holiday revenue is a key factor to the success of their business, according to data from Quickbooks. However, while total consumer spend is expected to be down, the positive outlook for small businesses this season is that consumers remain loyal to supporting and shopping small. Nearly half of consumers (47%) said a key reason they choose to shop at a small business over a larger retailer is their desire to contribute to their communities and support overall entrepreneurial success. Benefits of Shopping Small Keeping dollars circulating in local economies is a big benefit of Small Business Saturday. Almost half of every dollar spent at a local business recirculates throughout the local economy, compared to just 13% for chain stores, according to the American Independent Business Alliance. The items found in small businesses are often made by hand in small batches, resulting in one-of-a-kind pieces. Local stores are often able to offer customized products, hands-on service, and other personal touches that big box stores simply cannot. In fact, 52% of consumers say they purchase from small businesses to find unique gifts or offerings that can't be found at big retailers. Additionally, consumers who are looking to avoid the stressors of holiday shopping are favoring small businesses with 1 in 3 consumers noting a desire to avoid crowded or busy big retail stores during the holiday shopping rush in favor of shopping small. Shopping Small in Tacoma-Pierce County Many small businesses are already preparing for the influx of consumers who are eager to shop small on November 30, and there are a number of local events taking place that Tacoma-Pierce businesses and consumers can participate in this season.
If you’re unable to shop on Small Business Saturday, there’s a number of events taking place in early December to choose from.
Shopping Small Online
With the growth of the digital economy, more entrepreneurs are starting or moving their businesses online. This year, many consumers plan to shop equally online and in-person for the holidays (compared with only 26% who say they plan to shop primarily in-person and 23% who say they plan to shop primarily online). Social media is becoming a popular platform for small businesses to market and sell their products. Over half of small business owners (52%) say they plan to use social media platforms in order to sell products or services this holiday season—more than any other platform, including their own website. Facebook, Instagram, and TikTok are top social platforms of choice for both small businesses and their customers. The Tacoma-Pierce County Chamber is proud to support small businesses in our region. As you shop for gifts this season, don’t forget about the numerous small businesses that support your local economy and employ your friends and neighbors. Comments are closed.
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