American Express launched Small Business Saturday in 2010 in support of small businesses in the United States, generating an estimated $120 billion since the event began. This year the event garnered a record-high total of an estimated $19.6 billion in sales over $17.8 billion in sales in 2018. The shop small movement celebrates small businesses and the valuable contributions they make to their communities and the economy.
“We all came together on Saturday to prove that shopping small really does add up,” Elizabeth Rutledge, Chief Marketing Officer at American Express, said in a statement. “We are thrilled to report that shoppers are increasingly making a conscious effort to Shop Small and support their local communities, and over the past 10 years consumers reported spending an estimated total of more than $120 billion at small businesses on Small Business Saturday.”
- The day has become a national tradition, with 70% of American adults surveyed reporting being aware of the day.
- 96% agree that shopping at small, independently-owned businesses support their commitment to making purchases that have a positive social, economic, and environmental impact.
- 97% of consumers who shopped on Small Business Saturday agree that small businesses are essential to their community.
- 95% reported the day makes them want to shop or eat at small, independently owned businesses all year long.
- 92% of merchants say the day helps their business stand out during the holiday season.
- 59% say Small Business Saturday contributes significantly to their holiday sales.
- 74% say participation brings more customers into their small business.
Why Small Businesses Matter:
- For every $100 spent at a local business, $68 of it stays within the local economy—compared to just $43 for large businesses.
- Small businesses make up more than 99% of all businesses in the US and employ 47.5% of the country’s workers.
- On average only 50% of these businesses survive to pass the five-year mark.
Photo: via American Express