Small Business Saturday, which started in 2010 and is held every November 27, is designed to promote small businesses and encourage people to shop locally.
In 2020 alone, Americans spent $19.8 billion on Small Business Saturday. Will this year be any different?
Yes, based on a small survey conducted by American Express.
In fact, this year, about 80% of consumers plan to shop at a local business.
Likewise, 31% of consumers intend to shop at local small businesses together with their friends, 26% plan to order takeouts from local companies, and 24% claim they will eat at small independent restaurants.
On that note, 63% of small-business owners are getting ready for an even bigger holiday season this year, despite the economic setbacks caused by the ongoing pandemic.
What’s more, 56% of small-business owners believe this year will be critical for their businesses; 78% claim this holiday season will leave a significant impact on the future of their businesses, i.e., whether they will stay open in 2022.
On the other hand, 72% of small business owners place their hopes in grant fundings to help their companies stay open, given that 1 in 12 businesses close each year.
Based on a different survey, 43% of Americans plan to do their shopping at locally owned small businesses on November 27.
At the same time, since the beginning of the pandemic, 51% of people tried to shop locally, 27% bought their food from locally-owned restaurants, and 21% preferred to shop at locally-owned grocery stores.
What was the main reason behind this trend?
Well, 53% of Americans did it to help local small businesses from closing, and 33% did it because local small businesses offered delivery and takeout options.