The ninth annual Small Business Saturday, held on November 24, 2018, kicked off the holiday shopping season for small independently-owned businesses with record levels of reported spending.
Total reported spending among U.S. consumers who said they shopped at independent retailers and restaurants on the day reached a record high of an estimated $17.8 billion, according to data released from the 2018 Small Business Saturday Consumer Insights Survey from American Express and the National Federation of Independent Business (NFIB). Based on this annual survey over the years, Small Business Saturday spending has now reached a reported estimate of $103 billion since the day began in 2010.
Communities across the U.S. and Puerto Rico celebrated this Small Business Saturday with special events and activities. From lighting up the Empire State Building blue in New York to crafting a life-sized Shop Small gingerbread shop in San Diego, to block parties featuring local jazz and salsa bands in San Juan, businesses and neighborhoods showed what makes their communities unique and vibrant. An estimated 104 million U.S. consumers reported shopping or dining at local independently owned businesses on Small Business Saturday, according to the same survey.
“Millions of shoppers came together to show their support for small, independently owned businesses this Small Business Saturday,” said Elizabeth Rutledge, chief marketing officer at American Express. “The Shop Small movement has become a national celebration – people all around the country are turning out to back the small businesses that make our neighborhoods and communities thrive.”
The survey also found that an estimated seven in ten (70 percent) American adults are aware of Small Business Saturday. Among consumers who said they shopped small on the day, 42 percent reported shopping with family and friends at independently owned businesses, and 83 percent reported encouraging others to also shop or dine small. Shoppers also turned out for online small businesses – among consumers who said they participated on the day, 41 percent reported that they shopped small online on November 24.