What is Small Business Saturday?

Small Business Saturday is a day dedicated to supporting and celebrating small businesses across the United States. Initiated by American Express, it is recognized on Saturdays following Thanksgiving to encourage consumers to shop at their local neighborhood stores. This event occurs between Black Friday and Cyber Monday to assist small business owners in benefiting from the holiday shopping season.

Small Business Saturday is being promoted by American Express using the hashtag #smallbizsaturday. Since its inception, US consumers have reportedly spent nearly $140 billion on Small Business Saturdays combined, with consumer spending having reached $19.8 billion on Small Business Saturday recently.

What is the Purpose of Small Business Saturday?

This national shopping holiday highlights the significance of supporting local small businesses, which are essential to the nation’s economy. The holiday features various events aimed at encouraging shoppers to visit local establishments and discover unique products and services offered within their community, all while celebrating what small business is on Saturday.

When is Small Business Saturday?

Small Business Saturday occurs on the Saturday following Thanksgiving, positioned between Black Friday and Cyber Monday during the holiday shopping season. This event aims to encourage holiday shoppers to consider local businesses while purchasing gifts for the season.

What is the History of Small Business Saturday?

The inaugural Small Business Saturday was established by American Express to encourage holiday shoppers to support local and brick-and-mortar businesses. The Senate later passed a resolution to recognize the day and promote awareness of the importance of locally owned small businesses. For a few years, the Small Business Administration has co-sponsored the event with American Express. Now in its tenth iteration, this shopping holiday is devoted to aiding small businesses by creating jobs and enhancing local economies. It provides small business owners with opportunities to refine their marketing and promotional strategies to attract customers during the holiday season. The success of Small Business Saturday in motivating consumers to shop locally has also led to the United Kingdom celebrating its own Small Business Saturday, which occurs in December. See how you measure up with others by taking the Small Business Saturday quiz.

Who Can Participate in Small Business Saturday?

Small Business Saturday is designed to help small businesses take a piece of the holiday shopping action in a bid to let them compete with big-box retailers and e-commerce stores. The small businesses shopping event is intended to encourage holiday consumers to shop at small and locally owned businesses. Participating businesses include those that have fewer than 500 employees and include a wider range of businesses that include local retailers, restaurants, and others offering services.

Reasons Small Businesses Should Get Involved

If you own a small business, you should consider getting involved in Small Business Saturday. With it, you can leverage your brand, increase connections with customers, and generate strong sales. Some top reasons why you should consider participating include:

Reach out to more clients: Small Business Saturday is held across the nation in all 50 states. To further help consumers shop at their local mom-and-pop shops, restaurants, and service providers, American Express for eligible businesses has even developed a map and small business online directory where your business can be included for free.

Boost Your Sales: Small Business Saturday has seen phenomenal growth year after year, giving great exposure to small businesses. Last year, despite COVID-19, US, social distancing, and lockdowns, consumers spent a whopping $ 19.8 billion on Small Business Saturday. With the economy in recovery this year more sales are expected to take place.

Consumers are incentivized: to support small businesses American Express through its Shop Small campaign lets its credit card users earn special points for when they buy from small businesses.

Foster Community Spirit: Small Business Saturday goes beyond just sales; it serves as an event that unites communities in support of local businesses and fosters a sense of togetherness.

You can promote your unique product or service: This holiday shopping event is tailored for your business, allowing you to maximize your holiday marketing efforts by participating. With consumers being encouraged to shop locally, they will likely come from nearby areas, which helps you reduce shipping and delivery costs.

Reasons to Get Involved	Benefits
Reach out to more clients	- Nationwide presence - Inclusion on the Shop Small map and online directory for free
Boost Your sales	- Phenomenal growth in sales year after year - Opportunity for increased exposure and revenue
Consumers are incentivized	- American Express's Shop Small campaign offers credit card users special points for supporting small businesses
Foster Community spirit	- Encourages community support and unity
You can Promote your unique product or service	- Opportunity to showcase and market your unique offerings - Reduced shipping and delivery costs

How Can Local Businesses Get Involved?

As a small business owner, you don’t have to register with any organization to join in on Small Business Saturday. Getting involved is straightforward; just decide to participate and begin your planning. To make the most of the opportunities available by participating in Small Business Saturday, here are some tips on how to get started:

Offer discounts and sales: The holiday season can be stressful for shoppers. Help brighten their experience by providing holiday discounts and promotions.

Prepare for heavy foot traffic: Small Business Saturday starts at the beginning of the shopping season, so expect to see a lot of heavy foot traffic to your establishment. You will need to double-check that your inventory is fully stocked to handle a boost in orders and sales.

Get your business on Shop Small Map: If your business accepts American Express cards, you can be featured on the Shop Small Map which will put among businesses shoppers can explore during Small Business Saturday.

Partner with other businesses: The holiday shopping event is to help celebrate buying locally and support the local economy. You can partner with other small businesses to organize or sponsor a local community event.

Become a Neighborhood Champion: Neighborhood champions are people or businesses that take charge of organizing events or promotions to encourage people and businesses about Small Business Saturday. Neighborhood champions or Shop Small ambassadors help encourage their communities to shop locally throughout the holiday season, and year-round; and encourage local businesses to participate this holiday season.

How Can My Business Be Successful on Small Business Saturday?

Set Goals: You will need to prepare for the holiday shopping season ahead of time. This means you need to carve out goals for reaching different sales targets and plan on staying open.

Make sure you have enough inventory: You will need to anticipate holiday orders by making sure that you have enough merchandise in your store for the holiday season. You will need to place orders with suppliers earlier on as suppliers will no doubt be under holiday pressure.

Tweak your marketing campaign: Use your marketing channels, including posters, flyers, your website, and social media posts, to let new customers know what you are offering during this unique shopping holiday. If you need help, American Express offers resources and marketing materials for free to help you get started.

Maximizing Small Business Saturday Success

Small Business Saturday is a significant opportunity for local businesses to boost sales and engage with their communities. To ensure your business thrives on this special day, consider the following strategies:

• Set Clear Goals: Establish specific sales targets and objectives for Small Business Saturday to guide your efforts effectively.
• Stock Up Adequately: Anticipate increased demand and ensure you have sufficient inventory to meet customer needs during the holiday season.
• Tailor Your Marketing: Customize your marketing campaign to promote your Small Business Saturday offers through various channels like posters, flyers, websites, and social media.
• Utilize Resources: Make the most of the complimentary resources and marketing materials provided by American Express to boost your promotional activities.
• Collaborate and Partner: Explore collaboration opportunities with other local businesses to create community events or sponsor activities that celebrate Small Business Saturday.
• Become a Neighborhood Champion: Consider taking the lead as a Neighborhood Champion to organize and promote Small Business Saturday activities within your community.
• Get Ready for Increased Foot Traffic: Anticipate a rise in foot traffic and make sure your store is fully equipped to accommodate the higher volume of customers.
• Offer Discounts and Promotions: Attract holiday shoppers with special discounts and promotions to make their shopping experience more enjoyable.
• Participate in the Shop Small Map: If you accept American Express cards, get your business featured on the Shop Small Map to attract more shoppers.

Strategies for Success	Benefits
Set Clear Goals	- Provides a clear direction for your Small Business Saturday efforts - Helps measure the success of your campaign
Stock Up Adequately	- Ensures you meet increased customer demand during the holiday season
Tailor Your Marketing	- Customized promotion increases the visibility of your Small Business Saturday offers
Leverage Resources	- Free resources and marketing materials enhance your promotional efforts
Collaborate and Partner	- Creates a sense of community and boosts the impact of Small Business Saturday activities
Become a Neighborhood Champion	- Allows you to take a leadership role in promoting Small Business Saturday within your community
Prepare for Foot Traffic	- Ensures a smooth shopping experience for customers and maximizes sales
Offer Discounts and Promotions	- Attracts more holiday shoppers and makes their shopping experience more enjoyable
Participate on the Shop Small Map	- Attracts American Express cardholders and encourages them to shop at your business

Conclusion

Small Business Saturday is more than just a shopping event; it’s a vital celebration of the backbone of our economy—local businesses. With a history spanning over a decade, this annual tradition has grown exponentially, bolstering small businesses and fostering community spirit. By actively participating in Small Business Saturday, entrepreneurs can seize the opportunity to increase their brand visibility, elevate customer connections, and, ultimately, boost sales. This day not only benefits individual businesses but also strengthens the bonds within communities, emphasizing the value of shopping locally. As we approach the upcoming Small Business Saturday, remember that it’s not just about deals and discounts; it’s about coming together to support the heart and soul of our neighborhoods. So, mark your calendars, plan your promotions, and get ready to be a part of this remarkable celebration of small businesses.

Image: Depositphotos

This article, "What is Small Business Saturday?" was first published on Small Business Trends