There is no time to be lethargic post-Thanksgiving feast. The following weekend packs in the nation’s three biggest shopping days of the year. Black Friday is the current leader in sales with an anticipated spend of $502 per person, with Cyber Monday catching up at $431 per person. However, there is a middle-child that often gets overlooked, but is arguably the most important of the three: Small Business Saturday.
Small Business Saturday takes place the Saturday after Thanksgiving. Consumers report that they are 61% likely to shop on Black Friday, 50% likely to shop on Cyber Monday and only 23% likely to shop on Small Business Saturday. Although it is not growing as fast as Cyber Monday, the user search volume for Small Business Saturday is growing at a steady pace. And this online sentiment is translating to profits for many small business owners. In Iowa City, Iowa, a business owner reported a 30% increase in sales, while independent store owners in Saratoga Springs, New York saw a sales increase of 25% on Saturday. This modest growth can be attributed to the rise of localism amongst Americans.
Big box and small businesses can both benefit and grow as well. Big box retailers can stock their recently emptied shelves with local picks for the day. While small retailers can also elevate small businesses and brands to keep their foot traffic up. For small businesses, this is their time to give jaded, tired customers the razzle dazzle they can’t get in big box stores. Small businesses have the advantage of leveraging human, personable interactions to establish a connection with customers and control the brand voice communicated. In addition to leveraging their strengths, small businesses need to get ready to do business. Bulk up on payment systems in store, allowing for easy e-signatures and seamless checkouts.
But most importantly, as a shopper you can help grow Small Business Saturday be opting to shop local and support your neighbor.
If you’d like to read more about holiday shopping habits, download our shopper study, The Checkout Holiday Edition.
Image Source: Unsplash
Contributed By: Karina Arnold, Account Planner, Integer Denver