In between the sales behemoth that is Black Friday and e-commerce juggernaut Cyber Monday lies a new annual holiday shopping tradition known as Small Business Saturday.
Started in 2010 by American Express to buoy small business struggling from an economy in recession, Small Business Saturday has grown exponentially since its inception, with 2017’s event reporting an estimated 108 million consumers shopping or dining at local independently owned businesses on Small Business Saturday — generating close to $13 billion in reported spending.
Consumer interest in shopping small during the holiday season follows a parallel trend with the ever-growing enthusiasm for locally sourced craft spirits and beers. As of 2017, there are nearly 1,600 craft distilleries in the U.S. and more than 6,300 craft breweries. Additionally, as we’ve previously reported, a majority of consumers prefer spending money at a business that features local flare.
Small Business Saturday is a time when consumers will be looking to support those small local entities, by purchasing craft holiday gifts from retail, ordering locally sourced libations at bars and restaurants, or patronizing independent stores and tap houses.
Small Business Saturday is a community focused event, making it an ideal opportunity to leverage consumer loyalty and deepen a relationship with customers whether you are a larger business offering locally sourced craft items, or you are a smaller business. 90% of consumers surveyed said Small Business Saturday has had a positive impact on their community. Positive experiences on SBS can reverberate throughout the following weeks and months.