Release from U.S. Small Business Administration:
CHARLESTON, W.Va. — American consumers spent $19.6 billion at independent retailers and restaurants on Small Business Saturday®, according to data released yesterday by American Express and the National Federation of Independent Businesses. Data shows shoppers from coast to coast made a significant impact at small businesses during the 10th annual Small Business Saturday, held November 30, 2019.
Started by American Express in 2010 and co-sponsored by the U.S. Small Business Administration since 2015, Small Business Saturday® continues to provide small businesses and communities across the country with an economic boost to start the holiday shopping season. This year, consumer participation increased by six million (110 million in 2019 vs. 104 million in 2018) and brought an almost $2B increase in total amount spent ($19.6B estimated in 2019 compared to $17.8B in 2018).
“Small Business Saturday’s® success is proof of the economic benefits of shopping small. Seven in ten adults are conscious of the positive impact local small businesses have in their communities,” said the SBA’s acting Mid-Atlantic Regional Administrator Steve Bulger who oversees the federal agency’s operations in Pennsylvania, West Virginia, Virginia, D.C., Maryland and Delaware. Bulger also points to findings that 96% of survey respondents who shopped on Small Business Saturday® agree that shopping at small, independently-owned businesses supports their commitment to making purchases that have a positive social, economic and environmental impact.
Meanwhile, many shoppers using smartphones, spent $3.6 billion buying online from small businesses on Small Business Saturday®. Adobe Analytics, which tracks online sales, says that’s up 18% from a year earlier. Adobe reported holiday season sales are on track to grow 14.9% from 2018. Small businesses have already garnered $68.2 billion in online sales from November 1 to November 30.
According to the survey, 97% of consumers who shopped on Small Business Saturday® agree that small businesses are essential to their community and 95% reported the day makes them want to shop or eat at small, independently-owned businesses all year long, not just during the holiday season. The SBA continues to inspire neighbors to make a conscious decision to Shop Small® year-round by recognizing their spending at local merchants and community businesses.
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Cosponsorship Authorization # 19-2050-93. SBA’s participation in this cosponsored activity is not an endorsement of the views, opinions, products or services of any cosponsor or other person or entity. All SBA programs and services are extended to the public on a nondiscriminatory basis.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.