Small Business Saturday, an idea conceived by American Express in 2010, was made to place small companies with fewer than 150 employees under the limelight and help them create earnings during the hectic holiday season. This year, it is possible to display your love to neighborhood companies and shop little with family and friends on November 25, 2017.
Sales Trends on Small Business Saturday
Small Business Saturday was making waves since its 2010 beginning. Even the US Senate even officially acknowledged the day in 2011, and a year ago, President Obama chose out his brothers to buy books and sweets to demonstrate support for smaller businesses. As public officials have publicized the day, more and more consumers have gone out to store, generating billions in revenues for primary road entrepreneurs.
The chart below demonstrates how the number of consumers purchasing on Small Business Saturday has grown over the last five years:
With the number of participants growing year after year, Small Business Saturday earnings have also risen. From $5.5 billion in 2012, earnings plummeted to $15.4 billion in 2016.
What Consumers Purchase On Small Business Saturday
According to a SalesFuel study, 23 percent of US adults shopped during Small Business Saturday last year, and here is what they purchased.
Not all customers will come out only to store. Others are looking to dine also. American Express demonstrated that consumers who plan to shop on Small Business Saturday also intend to taste the offerings of local institutions. The survey revealed that roughly 4 out of 10 consumers anticipate to see restaurants, bars, bars, and bakeries.
5 Top Small Business Saturday Trends For 2017
Building on the success of previous years, here are tendencies to look out for this year as we approach Small Business Saturday on November 25:
1. Prepare for Early (& Late) Shoppers
You do not have to wait until Small Business Saturday to offer deals and discounts and start your promotional campaigns. This past year, almost a third of shoppers started shopping as early as October. There’s every reason to believe that people will be hitting the stores.
Source: BusinessWire
This is good news for small business owners. Early holiday shoppers may give you clues on the items which will likely be in demand come Small Business Saturday.
Additionally, there are always some stragglers which will perform their shopping overdue. 15 percent of individuals intend to do their holiday shopping in December. Thus, save some of your holiday promotional budget for the last month of this year.
2. Target Millennials
Millennials hold considerable spending power, and they also show it on Small Business Saturday. A Fit Small Business survey conducted in 2016 revealed that over 20 percent of customers likely to shop Small Business Saturday are Millennials. We expect this trend to continue or grow next year as Millennials love to support local companies.
Millennials are the largest segment most likely to show support for Small Business Saturday
Reach out to Millennials by conducting Facebook advertisements that target 25 — 34 years old on the times leading to Small Business Saturday. You might even produce unique items or bundles with this particular age group in mind. Yet another thingto think about offering free in shop wifi. A little investment can pay off in a massive way as Millennials like to use social media to broadcast their location and actions.
3. Highlight Unique Things
Among the main reasons people love to shop little is to find one-of-a-kind goods.
Source: SmallBusiness.com
Get shoppers’ attention by featuring products they won’t find in massive retailers or other shops. If you’re a local bookstore, as an example, draw attention to limited variant titles or books accepted by the author. If you’re a local restaurant, promote that you’re offering a very special dish just for now. If big box retailers lure customers by discounting products, you can get people through the door by differentiating products.
4. Create a Site & Design It For Mobile First
Create a website in case you don’t already have one. Even if you’ve got a physical store, consumers research services and products online before hitting the shops on the vacation season. By way of example, 68 percent of consumers research books, movies, music, and video games online before purchase.
When creating your website, consider mobile-first design. That means it’s not enough to create a mobile-friendly website. You have to prioritize mobile for consumers that make their purchases onto a mobile device. In accordance with Facebook, folks of all ages, but particularly those below age 49, are finishing purchases on cellular. And according to NetElixer, 35 percent of holiday purchases this season will be on cellular!
People are searching for more than ever on cellular
Source: Facebook
5. Offer In-Store Pickup
You can even leverage the growing tendency of cellular shopping by featuring products on your site and offering the choice for consumers to pick up the item in store. A Google analysis reveals that nearly 7 out of 10 consumers says that it is important for a retailer to offer the decision to pick up goods in shop or purchase online. With the choice to pick up in store, you eliminate the need to ship which saves you time and assets. In addition, you still have to satisfy consumers’ impulse to touch the product and feel good about what they’re purchasing, while it’s a gift or a purchase for themselves.
Perks for Small Business Saturday Participants
While any business can offer discounts or promotions on Small Business Saturday, there are particular benefits and complimentary promotional materials that you could purchase from Amex’s Shop Small site. Establishments that accept American Express Credit and Debit Cards are eligible for more advantages.
Here are the benefits for all Small Business Saturday participants and merchants that accept Amex cards:
Small Business Saturday Perks For Participants
| All Of Small Business Saturday Participants | Merchants that exude Amex Cards | |
|---|---|---|
| Printable Signage | ● | ● |
| Shop Small Logo and Infographic | ● | ● |
| Email Addresses and Sample Social Media Posts | ● | ● |
| Free Online Ads for Small Business Saturday | ● | ● |
| Printable Post Card | ● | ● |
| Digital Banner | ● | ● |
| Free Online Ads Through the Year | ● | |
| Look on the Shop Small Map | ● | |
| Inclusion in the AMEX Card Member Offer for Small Business Saturday | ● |
Source: Amex
Out of the benefits, the two most important are likely the free Facebook ads as well as the Amex card penis offer.
Amex purchases advertising stock on Facebook and gives it out to its small business account holders for free. Small businesses can look on people’s Facebook feeds as a recommended place to shop. Everyone who signs up about the Shop Small site can appreciate this advantage on Small Business Saturday, but Amex members can take advantage of this perk throughout the entire year. Find out More about how to market on Facebook during Small Business Saturday and several times of the year.
Small business owners that accept Amex cards can also take advantage of the American Express Card Member Offer. Last year, Amex gave eligible card members 2X rewards points once they flew at small businesses. In other years, Amex cardholders received statement credits of $10-30 as an incentive to shop in small businesses. Small companies can get free promotional materials, such as signage and email templates, to tell their clients about the card member offer and motivate them to shop.
Bottom Line on Small Business Saturday
Small Business Saturday, which falls on November 25 this season, continues to see record participation from customers and business owners year after year. People go out to demonstrate their love to local small companies and communities, such as celebrities and politicians.
Have you got other Small Business Saturday insights? Share them in the comments section below.
