American Express created Small Business Saturday in 2010, and it has become a permanent fixture of the Thanksgiving holiday shopping weekend. 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.

“What began nine years ago as an effort to support local stores during the holiday shopping season has become the Shop Small movement, bringing together millions of shoppers, small businesses of all kinds, civic leaders and organizations in thousands of towns and cities across the country,” said Elizabeth Rutledge, Chief Marketing Officer at American Express. “Shopping small has a significant and positive effect on local communities, and we hope Small Business Saturday will help to amplify that effect during the crucial holiday shopping season. When we spend local, small businesses thrive. And when small businesses thrive, we all thrive.”

Below are findings from another study, the 2018 Small Business Saturday Consumer Insights Survey, recently released by the National Federation of Independent Businesses (NFIB) and American Express based on a separate survey of consumers.

Small Business Making a Big Impact:

• A majority of consumers (94%) value the contributions small businesses make in their community.
• As consumer shopping habits shift further online, nearly two-thirds (65%) are likely to seek out small, independently owned retailers when shopping online, including 59% who plan to Shop Small online this Small Business Saturday; even 40% of consumers say they will shop with a small retailer online this Cyber Monday.
• Among consumers who plan to shop on Small Business Saturday:
• Nearly all (96%) 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.
• Plans to shop include visiting independently owned bakeries (40%); clothing, accessory and shoe stores (40%); restaurants, bars and pubs (37%); bookstores (32%); and gift, novelty and souvenir stores (30%).

The New Yorker Impact:

• 84% of New Yorkers agreed that Small Business Saturday has had a positive impact on their community.
• 93% of New Yorkers said small businesses are essential to their community and 95% value the contributions small businesses make locally.
• 59% of New Yorkers are very or somewhat likely to seek out a small, independently owned retailer when shopping online on Small Business Saturday.