Almost immediately after we’ve consumed the Thanksgiving meal, our thoughts turn to the holiday shopping season. Most of us take advantage of Black Friday deals online and at large retailers, to the tune of over $500 per consumer on average. But what about the underdogs — the locally owned, independent retailers and corner stores that make our communities special?
That’s what Small Business Saturday is all about. American Express launched the “Shop Small” movement in 2010, hoping to help the fortunes of businesses affected by the recession. The idea took off in all 50 states, and in 2011, the U.S. Senate unanimously passed a measure showing its support.
Small Business Saturday is observed on the Saturday after Black Friday — Nov. 30 this year. Locally, says Cynthia Sutton, executive director of the Ocean Springs Chamber of Commerce-Main Street-Tourism Bureau, retailers “go all out with giveaways and discounts.”
“We at the chamber-main street-tourism bureau even participate (in) and promote the event,” Sutton adds. “It is such a huge event for our small businesses that our state Main Street and national Main Street program also encourage it.”
The Mississippi Gulf Coast Chamber of Commerce is again planning a marketing campaign to promote Small Business Saturday, says CEO Adele Lyons, which will feature approximately six to eight of its small business members in a variety of social media posts.
“Of our over 970 members, 69 percent are small businesses,” Lyons says. “The Mississippi Gulf Coast Chamber understands the power and the importance of small business in our community.”
IF YOU’RE NOT FAMILIAR WITH SMALL BUSINESS SATURDAY, HERE’S WHAT ELSE YOU SHOULD KNOW
- There are about 30.2 million small businesses in the U.S., according to the U.S. Small Business Administration’s Office of Advocacy.
- There are over 254,500 small businesses in Mississippi, according to the most recent report from the Office of Advocacy, employing more than 434,000 people.
- Last year, consumers spent a record $17.8 billion at independent retailers and restaurants on Small Business Saturday.
- About 96 percent of those who reported shopping on Small Business Saturday said it made them want to “shop small” all year round, according to the 2018 Small Business Saturday Consumer Insights Survey.
- When a consumer spends $100 locally, a reported $68 stays in the community, compared to $43 for national businesses and franchises.
- Approximately 104 million consumers “shopped small” in 2018, according to the Consumer Insights Survey.
- The survey also revealed that about seven in 10 American adults are aware of Small Business Saturday. Among those 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.
- Small business owners expect to make about of 29 percent of their annual sales during the holiday season, and 59 percent say Small Business Saturday contributes greatly to their holiday sales each year, according to the 2018 Small Business Owner Insights Survey