Danielle Van Dusen
December 1 2015
Small Business Saturday
What exactly is Small Business Saturday? A day to celebrate the little guys according to American Express. This is a holiday created by American Express to promote spending money at small businesses. This holiday was first “celebrated” in 2010. Being a very relatively new shopping holiday there is not much customer recognition with it, but that changed this year with the abundance of new advertising strategies. In 2014, only 46% of americans knew about Small Business Saturday and this year with more promoting that percentage jumped to 55%.
People first sparked interest with Small Business Saturday because American Express created an incentive to participate. Anyone with an American Express card that paid over $10 received $10 of credit. By doing this the demand for small business products increased. Because of the increase in demand for the products the total profit for the small business increases drastically. Impressively, the total profit for small businesses in the United States was $14.3 billion and the projected sales for this year was shooting at over $14.5 billion.
There is also other incentives with Small Business Day. In the chart above it explains the different benefits of shopping during Small Business Day. Every sixty-eight out of one hundred dollars spent, stays in the community, while the trade off of shopping non-locally causes consumers to purchase items not from big name brands but only forty-three out of one hundred dollars spent at a non-local business stay in the community.
In the future this shopping holiday will increase in recognition of customers and increase of profits. Possibly soon it will reach the same popularity as Black Friday. What do you all think?
Perkins, Sarah. "Small Business Saturday Statistics | What You Need to Know." Grasshopper. Grasshopper, 12 Feb. 2015. Web. 01 Dec. 2015."Small Business Saturday | Shop Small® - American Express OPEN."American Express. American Express Company, n.d. Web. 01 Dec. 2015.