Holiday shoppers alienated with the bedlam of Black Friday should support Small Business Saturday (launched by American Express) by shopping locally on November 25.
You can find an amazing mix of unique gifts and exceptional services to purchase for family and friends, while contributing to the well-being of your community’s economy.
In 2016, a record 112 million consumers shopped and dined on Small Business Saturday, 13% higher than 2015, according to the Small Business Saturday Consumer Insights Survey, released by the National Federation of Independent Business (NFIB) and American Express.
According to the 2016 survey results, among U.S. consumers:
- On average, 33% of their holiday shopping was to be done with small retailers or restaurants;
- 76% planned to visit at least one small business as part of their overall holiday shopping;
- 91% reported that supporting small, independently-owned bars and restaurants is important to them;
- 63% of consumers will pay slightly more for an item at a small, independently-owned retailer with the expectation of better customer service;
- 48% of consumers aware of Small Business Saturday and planning to Shop Small expected to spend more than the previous year; and
- Clothing/accessories/shoe stores (45%), restaurants/bars/pubs (41%) and bakeries (39%) ranked among the small business leaders for consumer spending.
Today, small businesses account for some 28 million U.S. businesses, employ half of those working in the private sector and create two out of every three new jobs, according to the U.S. Small Business Administration.
In Elmhurst and many other communities, sales taxes account for a municipality’s largest source of budget revenue, often offsetting any need for a property tax increase.
More importantly, 68% of every $1 spent at a local small business stays in the community, as compared to 44% for big box retail.
So there are numerous benefits to shopping “small” this holiday season—and all year ‘round.