Although the pandemic is not entirely behind us, the approaching holidays give business owners a fantastic opportunity to increase revenue and promote their brand. Holiday sales in 2021 are expected to grow at least 7% compared with last year, according to forecasts from Bain®, Deloitte®, and Mastercard®. This follows the good news that 43% of small businesses reported increased revenues during the first three quarters of 2021.
The annual Small Business Saturday event is a special shopping day celebrating small businesses across America. Don’t miss out! We have details about the day along with some economical and easy ways you can participate.
Small Business Saturday, being held on Saturday November 27, 2021, is nestled between Black Friday and Cyber Monday. Small Business Saturday celebrates entrepreneurs and encourages holiday shoppers to support businesses that are both small and local. The SBA defines a small business as one with fewer than 500 employees, so there are likely plenty in your area. Restaurants, coffee shops, florists, dry cleaners, beauty salons, and more qualify as small businesses.
When Small Business Saturday was launched, it generated more than one million Facebook® “like” registrations and nearly 30,000 tweets under the Twitter hashtags #smallbusinesssaturday and # smallbizsaturday.
Today, the “Shop Small” Twitter® account has 56,000+ followers and the Small Business Saturday Facebook page has over 3.3 million fans. Those numbers are expected to spike as the holiday season draws near.
Small Business Saturday continues to gain traction with heavy consumer and political support. Just a year after launch, the Senate passed a resolution in support of Small Business Saturday. Politicians at the state level are joining in as well. New Mexico Governor Susana Martinez announced the first ever Small Business Saturday tax holiday in 2018.
The tax-free day includes sporting goods, clothing, artwork, music instruments, furniture, and more, as long as the cost is not over $500. Governor Martinez encouraged shopping small in a press conference, “Get out and support your local small businesses and use this opportunity to save a few bucks when money is tight around the holidays.”
The holiday was created and promoted by American Express® in 2010 through a nationwide advertising campaign. Over 40 local politicians and small business groups in the United States issued proclamations encouraging consumers to support the campaign.
Small Business Saturday was such a hit in the U.S. that it caught on across the pond. In 2013, the United Kingdom launched their own small business shopping day that's picked up momentum ever since. The UK's Small Business Saturday is being held on December 4th, 2021.
There are a number of economic factors that benefit a community. Some of those include:
There are also non-economic benefits to shopping small:
Small Business Saturday events take place across America. It’s hard to miss the day if you’re shopping out in the community or online. National and local news outlets promote the day along with Chamber of Commerce organizations, politicians, and even high-profile celebrities.
There are lots of ways to participate! You’ll elevate your profile in the community, encourage current customers to visit, and attract new shoppers. Here are some easy ways to spread the word:
For more ideas you can use throughout the year, check out our article from the SmartBiz® blog: How to Attract More Customers to Your Business. You’ll learn how to identify target consumers, build an email list, and nail down the unique selling proposition that sets you apart from the competition.
It’s a great move to launch day-of” marketing promotions that can bring back a first-time customer. Offers like “Shop today and get 30 percent off of your next visit” can be a good motivator to return to your store. If a customer’s friend or family member shops with you, offer them a gift. Make sure it’s branded with your logo to keep your business top of mind. For promotional material ideas, visit the SmartBiz Small Business Blog: Promotional Items for Your Small Business.
Hopefully, you’ve collected customer contact information so you can keep in touch with your holiday shoppers throughout the year. Be sure to review your financials to learn if your efforts were successful and how you can evolve your Small Business Saturday strategy next year.