Shoppers across the U.S. are getting ready to Shop Small on Small Business Saturday, celebrated this year on Nov. 24, and their local economic impact could be significant on California communities. According to the new Small Business Economic Impact Study from American Express, an average two-thirds ($0.67) of every dollar spent at a small business stays in the local community.
Small Business Saturday was created in 2010 by American Express as a way to help get more customers through the doors of small businesses and has grown to become a permanent fixture of the holiday shopping weekend. Now in its ninth year, 97 percent of consumers who plan to Shop Small on the day said Small Business Saturday has had a positive impact on their community, according to the 2018 Small Business Saturday Consumer Insights Survey, another study released today by the National Federation of Independent Businesses (NFIB) and American Express, based on a separate survey of consumers. The survey also found that:
● Nine in ten (91 percent) consumers believe it is more important than ever to support small businesses this holiday season.
● 83 percent of consumers plan to do at least some portion of their holiday shopping at a small, independently owned retailer or restaurant – either in person or online.
● Nearly all (96 percent) of consumers who plan to shop on Small Business Saturday said Small Business Saturday inspires them to go to small, independently-owned retailers or restaurants that they have not been to before, or would not have otherwise tried.