Small Business Saturday Sales Exceed Black Friday for The First Time Ever: According to an economic impact assessment by American Express and the National Federation of Independent Businesses, Small Business Saturday sales surpassed Black Friday revenue for the first time (NFIB).
Small company sales on Small Business Saturday totaled $3.3 billion, compared to $3 billion in Black Friday sales from huge stores such as Walmart and Target.
This year’s Small Business Saturday, which comes on November 29th, is predicted to outnumber even last year’s record figures.
Small Business Saturday Sales Exceed Black Friday (2022)
Page Contents
- 1 Small Business Saturday Sales Exceed Black Friday (2022)
- 2 What is Small Business Saturday?
- 3 How did Small Business Saturday sales compare to Black Friday sales?
- 4 Why did more shoppers choose to shop on Small Business Saturday?
- 5 What does this mean for small businesses?
- 6 Conclusion
- 7 Frequently Asked Questions
Let’s get started with the details, continue reading to learn more…
What is Small Business Saturday?
On November 29th, millions of individuals around the country will make the modest but significant decision to shop at locally owned and operated companies. Small Business Saturday is today.
American Express established it in 2010 as a day when we can all do something to help our communities and local economy.
The concept behind this day is simple: for one day a year, we will all choose small businesses over giant chains.
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You’ll also be doing your pocketbook a favor: studies show that when you shop at locally owned companies, you’re more likely to get better prices and service than if you went to a big-box store or mall. Plus, your money stays in your community rather than being sent overseas or into the pockets of others!
How did Small Business Saturday sales compare to Black Friday sales?
A new poll found that more Christmas consumers plan to shop on its rather than Black Friday. Small business merchants have experienced a decline in Christmas sales over the previous decade.
This year, though, that trend may be changing as more consumers choose to buy locally and support small businesses. This year’s Small Business Saturday outsold Black Friday for the first time.
Why did more shoppers choose to shop on Small Business Saturday?
A new poll found that more Christmas consumers plan to shop on Small Business Saturday rather than Black Friday.
That is because many people choose to support local companies over big-box merchants. As more individuals discover the benefits of purchasing small, the national Small Business Saturday campaign has grown in recent years.
Aside from a rise in the number of consumers, this year’s event also witnessed higher sales than ever before: $23 billion, the most enormous amount recorded by American Express since it began collecting the figures in 2011.
What does this mean for small businesses?
That is fantastic news for small business owners. The additional shopping day implies that more people will visit their stores, look around, and buy their stuff. It helps customers who now have an extra day to buy and businesses who can sell even more.
But wait, there’s more! It is also excellent news for small companies since it demonstrates that customers value buying at locally owned and operated establishments.
This understanding should lead to a healthier economy in the long run, as well as a stronger sense of community in the short term.
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Conclusion
In the past, Small Business Saturday was drafted by Black Friday. However, this year is different. According to a new poll, more Christmas consumers plan to shop on Small Business Saturday rather than Black Friday.
According to the report, 45% of consumers plan to use their smartphone or tablet to identify local small businesses and stores to visit on November 25th.
That is great news for the American economy because it shows that many individuals are going out of their way to assist small business owners who have been suffering in recent years.
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Frequently Asked Questions
What is the history of Small Business Saturday?
Small Business Saturday, which encourages consumers to buy at small independent merchants, achieved a record high last year, with countrywide sales exceeding $23 billion.
It is the busiest day of the year for small businesses. The day was founded in 2010 by American Express and the National Trust for Historic Preservation to help stimulate local economies and protect downtown business areas across the country.
Since then, it has been adopted by towns around the country, with over 2 million Americans currently involved in over 5,000 Small Business Saturday events.
What do businesses do on Small Business Saturday?
According to recent research, more people will buy on Small Business Saturday this year than in the past.
According to the Ebates poll, 67% of Americans will make purchases on Small Business Saturday, while 58% will shop on Black Friday.
This year’s Small Business Saturday is expected to generate $23 billion in sales for small companies throughout the country, exceeding the previous year’s high of $19.1 billion.
Is this Small Business Saturday?
This year, rather than Black Friday, more Christmas shoppers plan to buy on Small Business Saturday.
According to a recent Promo survey, 60% of customers plan to spend at small independent stores this weekend, whereas just 46% want to purchase on the day following Thanksgiving.
For the first time, Small Business Saturday sales have exceeded Black Friday sales.
R Amin founded Try Latest Info, a website that provides readers with the latest information on business news, trends, and developments. He shares his insights and expertise through his social media handles and website. To learn more about R Amin or to connect with him on social media, please visit his website at https://trylatestinfo.com/.