The Significance of Shopping Local During Small Business Saturday on November 28th

Small businesses are a crucial piece of our community, and with Small Businesses Saturday just a few days away, we wanted to talk about the importance of the event and supporting small businesses. It goes without saying that local businesses have been adversely affected by the pandemic. Many have experienced significant revenue loss due to closures and restrictions that impact how they operate their business.

While the holiday shopping season may look a little different this year, it’s more important than ever that we shop local. It was recently revealed that “62% of U.S. small businesses reported that they need to see consumer spending return to pre-COVID levels by the end of 2020 to stay in business.” Every purchase we make now and in the future helps local businesses keep their doors open and recover from the COVID-19 pandemic.

What is Small Business Saturday?

Small Business Saturday is an annual, one-day event that takes place between Black Friday and Cyber Monday. This year, the campaign falls on November 28th. American Express created the event in 2010 as a way to encourage consumers to “shop small and bring more holiday shopping to small businesses” during the Great Recession. The following year, the U.S. Senate unanimously passed a resolution supporting Small Business Saturday, making it a nation-wide campaign.

How Small Business Saturday Benefits Locally-Owned Businesses

In years past, Small Business Saturday has been an effective way to boost small business revenue during the holiday shopping season. Last year alone, an estimated 110 million consumers spent $19.6 billion during the event, which “outstrips the $5.4 billion spent on Black Friday and the $9.2 billion spent on Cyber Monday over that same weekend.”

However, the advantages of Small Business Saturday aren’t exclusive to business owners. The campaign also benefits the community as a whole. Spending where you live keeps more money in the community, where it’s reinvested in city infrastructure, schools, and people. This fact is one that Amy King, owner of The Market, finds especially rewarding. “We love having people support our and others’ local businesses because it allows us to give back to the community and reward our city,” she says.

Holiday display at The Market in Fergus Falls, Minnesota