Communities across the country came together to celebrate the ninth annual Small Business Saturday held this past Saturday, Nov. 24. Total reported spending among U.S. consumers who said they shopped at independent retailers and restaurants on the day reached a record high of an estimated $17.8 billion, according to data released from the 2018 Small Business Saturday Consumer Insights Survey from American Express and the National Federation of Independent Business (NFIB). Based on this annual survey over the years, Small Business Saturday spending has now reached a reported estimate of $103 billion since the day began in 2010.
Other key insights from Small Business Saturday this year include: an estimated seven in ten (70 percent) American adults are aware of Small Business Saturday, among consumers who said they shopped small on the day, 42 percent reported shopping with family and friends at independently owned businesses, and 83 percent reported encouraging others to also shop or dine small, shoppers also turned out for online small businesses – among consumers who said they participated on the day, 41 percent reported that they shopped small online on Nov. 24.
In addition to the above consumer survey data, American Express also released new data from small business owners around their plans and sentiments for the holiday shopping season, including Small Business Saturday.
Additional information from both surveys, in addition to more results from Small Business Saturday can be found online at https://about.americanexpress.com/press-release/brand/shoppers-report-record-high-spending-estimated-18-billion-small-business.