At a time when an increasing number of consumers are opting to shop online—and are spreading their holiday shopping spending over a longer period of time than they did traditionally—many still prioritize brick and mortar small businesses.
On Saturday, November 26th, consumers across the nation celebrated the small businesses that are the backbones of our communities, as Small Business Saturday completed its seventh anniversary.
According to the Post-Small Business Saturday Consumer Insights Survey from the National Federation of Independent Business (NFIB) and American Express, a record 112 million consumers shopped on Small Business Saturday, marking a 13% increase over 2015. Additionally, awareness of Small Business Saturday reached 72%, slightly above the 70% recorded last year.
Among U.S. consumers who went out and shopped in-store, total reported spending reached an estimated $15.4 billion at independent retailers and restaurants on the day. Even though this was a decrease from the estimated $16.2 billion spent in 2015, the increased number of shoppers was a positive sign of support for small business everywhere.
Other key insights from Small Business Saturday this year include:
- More than 6,700 Neighborhood Champions around the country rallied local businesses and created events and activities in their communities, a 63% increase over 2015
- A total of 288 Federal Officials and Agencies showed support for Small Business Saturday through posts on social media
- More than 480 organizations signed up to support the nationwide initiative through the Small Business Saturday Coalition
- Among those who shopped on the day, 32% reported attending a community event, and 81% reported encouraging friends or family to shop or dine at small, independently-owned retailers and restaurants on the day as well; both on par with 2015.
- Additionally, consumers and small businesses helped rally support for Small Business Saturday and their favorite small businesses on social media channels, posting over 135 million social media engagements in support of Small Business Saturday, up from 85 million in 2015.