November 30, 2021
Hot Topic Tuesday – 80% of Consumers Plan to Shop at Small Businesses During Holiday Season
“Shopping at a small business is on the busy holiday to-do list for a majority of U.S. consumers, according to recent American Express surveys. Doing so brings them joy and excitement, and they also are aware that seeking out small businesses – especially those that ethically source products and seek to minimize their environmental impact – is a way to show support for their local communities, said respondents in two seasonal surveys,” reads a recent article from American Express about Small Business Saturday.
This holiday season, American Express is running its Shop Small campaign which encourages shoppers to support and make purchases from small merchants across the country. American Express has a goal to drive $100 billion in consumer sales at small businesses from 2021 to 2025.
Using data from their Amex Trendex and American Express Shop Small Impact Survey, they found that 63% of small business owners are reporting that they are preparing for a bigger holiday shopping season this year after a less successful shopping season in 2020. Over half of the small businesses that were surveyed said that this year’s Small Business Saturday (November 27) is going to be more important than before for their business, and almost 80% of small business owners say that this year’s holiday sales will affect their ability to stay open in 2022.
80% of consumers reported that they are likely to spend money at smaller businesses during this holiday season, and 70% of consumers say they are making sure to shop at and support small businesses this year. On Small Business Saturday, 42% of consumers planned to shop at small businesses. A majority of consumers (79%) agreed that some of the most unique holiday gifts that they purchase come from a small business.
“The past year has presented unique challenges for small business owners across the country. It has never been more vital to support the small businesses that make our communities unique and contribute to the culture of our neighborhoods,” says Nicole and Michael Nicholas, owners of Aunts et Uncles in Brooklyn, New York.