Shawna Ruff, UX Designer & Founder
Every November, American Express runs its highly anticipated "Shop Small" event, an initiative that celebrates and supports small businesses across the United States. This campaign is a testament to the importance of small businesses in our communities and the positive impact they have on the economy. In this blog post, we'll dive into the metrics and insights surrounding the Amex Small Business "Shop Small" events to highlight the significance of this annual event. If you're a small business looking to get sign up for the Shop Small Saturday event listing, click here.
Shop Small November is a nationwide campaign, with thousands of small businesses participating. American Express partners with local shops, boutiques, restaurants, and service providers to encourage consumers to shop locally during the holiday season. According to American Express, in 2021, approximately 55 million consumers shopped small on Small Business Saturday (the Saturday after Thanksgiving), spending an estimated $12.2 billion at small businesses.
One of the most significant benefits of the Shop Small event is the boost in foot traffic for participating small businesses. According to American Express data, 95 million people shopped at small businesses on Small Business Saturday in 2020, a significant increase from previous years. This uptick in foot traffic helps small businesses increase sales during a crucial time of the year.
“Since it launched in 2010, Small Business Saturday has brought communities together by connecting small business owners with local customers to kick off the holiday season when these businesses needed the foot traffic. Now, 13 years later, total reported spend at small businesses during the annual Small Business Saturday in the U.S. has reached an estimated $201 billion2 since the day was created in 2010. Small Business Saturday in the U.K. will begin on December 2. This is part of the progress we have made towards our commitment to help people and businesses build financial resilience – including our goal to reach $100 billion in spending by consumers at small, independently owned retailers or restaurants on Small Business Saturday and during other Shop Small campaigns from 2021 through 20253.
The 2022 Small Business Economic Impact Study4 showed that if every Gen Z and Millennial shopper spent $10 at a small business on Small Business Saturday, it would support $2 billion in local economic activity throughout the U.S. The study also found that $0.68 of every dollar spent at a small business in the U.S. stays in the local community and that every dollar spent at small businesses creates an additional $0.48 in local business activity as a result of employees and local businesses purchasing local goods and services.” American Express
In recent years, American Express has expanded its "Shop Small" campaign to include online shopping support. With the growth of e-commerce, small businesses have also gained a strong online presence. In 2020, 66% of consumers who reported shopping small on Small Business Saturday did so online or digitally. This online support is particularly valuable for businesses during the COVID-19 pandemic.
The American Express 2023 Saturday Consumer Insights Survey reported that 59% of U.S. consumers aware of Small Business Saturday shopped or ate at a small, independently owned retailer or restaurant on Small Business Saturday this year. Among those small business shoppers, the survey highlighted that:
American Express encourages consumers to share their "Shop Small" experiences on social media using the #ShopSmall hashtag. This social media engagement helps create buzz around the campaign and spreads the message to a broader audience. In 2020, the #ShopSmall hashtag received millions of mentions across various social media platforms, demonstrating the campaign's social impact.
Shop Small November isn't just about increasing sales; it's also about supporting the heart of communities. According to American Express, 77% of consumers who are aware of Small Business Saturday say that they shop small because they want to support their local community. This sense of community support is a crucial aspect of the campaign's success.
While Shop Small November is a focal point of American Express's support for small businesses, the company encourages consumers to shop small throughout the year. Small businesses benefit from year-round promotion through American Express's marketing efforts.
The metrics and insights surrounding the American Express Small Business events highlight the positive impact this campaign has on small businesses across the country. With increased foot traffic, online shopping support, social media engagement, and a strong sense of community support, Shop Small November plays a vital role in boosting small businesses during the holiday season and beyond. As consumers, supporting small businesses through initiatives like Shop Small is a meaningful way to contribute to the growth and resilience of our local economies.
