Small Business Saturday Drove 108M Consumers To Shop, Dine Locally

Small Business Saturday drew around 108 million consumers to locally owned restaurants and retail businesses, reported the National Federation of Independent Business (NFIB) and American Express in a joint press release.

Citing data from the 2017 “Small Business Saturday Consumer Insights Survey,” the trade group and the payments company said that 70 percent of U.S. consumers are aware of Small Business Saturday, with 35 percent saying they Shopped Small online on Nov. 25.

“Year after year, Small Business Saturday receives remarkable support from shoppers and communities nationwide,” said Elizabeth Rutledge, executive vice president of Global Advertising and Media at American Express in the press release, highlighting the results. “In year eight, it’s encouraging to see Small Business Saturday continue to gain momentum as more people recognize the benefits that independently owned businesses bring to their neighborhoods — and our country as a whole.”

The survey by the NFIB and American Express also revealed that 73 percent of consumers who said they shopped and dined at local small businesses (SMBs) did so with friends or family. Of the survey respondents, 64 percent said they shopped or dined with a local business to support their community. What’s more, 58 percent said they visited more than one independently owned SMB or restaurant during the day-long event. Of those who shopped small, 48 percent said they visited a store they hadn’t been to in the past.

In terms of specific consumer spending, American Express and the NFIB found that shoppers in Colorado, Hawaii and Vermont visited pet stores the most, while consumers in Illinois, Massachusetts and New York spent their money at a bakery. Shoppers in Georgia, Idaho and Texas stopped by spas, nail salons or hair salons more than any other retail business.

“Small Business Saturday has become an incredibly important day for small businesses across the nation,” said NFIB CEO and President Juanita Duggan. “We are very proud to be a part of this program and to be able to show how valuable small businesses are to local communities, whether on Main Street or online. Partnering with American Express is a great honor, and we look forward to Small Business Saturday each year.”


New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.