Small Business Saturday® Results: Independent Businesses Make Strong Statement to Start the Holiday Shopping Season
14.9% Increase in Small Business Saturday Shopper Traffic Helped Offset Lower Average Consumer Spending, According to NFIB and American Express Research
From the main streets in towns like Galesburg, Illinois to 1600 Pennsylvania Avenue, there was strong support for local independent businesses on Small Business Saturday. Shoppers across the nation made a powerful statement with 88 million consumers “Shopping Small” on the day, up 14.9 percent from just a year ago.
This according to the results from the Small Business Saturday Consumer Insights Survey, released today by the National Federation of Independent Business (NFIB) and American Express.
According to the survey, the average person who shopped on Small Business Saturday spent $162, down 11.5 percent from the previous year. Though average spending was down, overall spending was boosted by strong awareness and the sheer volume of shoppers supporting their local businesses on the day.
With more than two-thirds of the U.S. population aware of Small Business Saturday (67%) and more people shopping, U.S. consumers who were aware of Small Business Saturday reported spending $14.3 billion* with independent retailers and restaurants on the day, an increase of 2.1 percent from $14 billion in 2013.
“More Americans recognize the direct link between shopping locally and stronger communities and that’s an extremely positive result,” said NFIB President and CEO Dan Danner. “We’re delighted by the success of Small Business Saturday but we’re even more excited by the growing commitment among Americans to give small businesses a chance to compete all year round.”
“Once again, Small Business Saturday proved to be a bright spot over the first official holiday shopping weekend,” said Denise Pickett, President, American Express OPEN. “Small businesses are critical to the stability of our local communities and growth of our national economy. We are confident that the broad national support for these businesses will continue well beyond November 29th.”
Elected Officials Across the U.S. Pledge Their Support
Communities and Supporters Make Year Five Bigger than Ever
About the Survey
The Small Business Saturday Consumer Insights Survey was conducted among a nationally representative sample of 2682 males and females 18 years of age or older. The sample was collected using an email invitation and an online survey. The study was conducted anonymously by independent marketing performance specialist Ebiquity on November 30, 2014. The survey has an overall margin of error of +/- 1.9%, at the 95% level of confidence.
About Small Business Saturday
November 29th marks the fifth annual Small Business Saturday, a day dedicated to supporting the local businesses that create jobs, boost the economy and preserve neighborhoods around the country. Small Business Saturday was created by American Express in 2010 in response to small business owners’ most pressing need: more customers.
NFIB is the nation’s leading small business association, with offices in Washington, D.C., and all 50 states. Founded in 1943 as a nonprofit, nonpartisan organization, NFIB gives small and independent business owners a voice in shaping the public policy issues that affect their business. NFIB’s powerful network of grassroots activists sends their views directly to state and federal lawmakers through our unique member-only ballot, thus playing a critical role in supporting America’s free enterprise system. NFIB’s mission is to promote and protect the right of our members to own, operate and grow their businesses. More information about NFIB is available online at www.NFIB.com/newsroom.
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*Please note that due to a change in research vendors, we have made an adjustment to our methodology for this survey. As a result, we have restated trend data from all Small Business Saturday Consumer Insights Surveys. The new methodology includes more survey participants and a spending extrapolation based on average consumer expenditure.
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