Since its inception, Small Business Saturday has grown into a major economic driver, supporting local economies and encouraging community connection. In 2023, spending reached a remarkable $17 billion, underscoring the day’s importance for small businesses across the country. Shopping small makes a big difference in local communities: while large retailers only return about 14 cents of every dollar to the local economy, small businesses contribute an impressive 67 cents per dollar, creating jobs and funding essential services.
The Power of Customer Loyalty
One reason consumers are drawn to small businesses is the personal touch they offer. According to recent data, 68% of shoppers say they feel more connected to their communities when they shop locally. And it’s not just a one-day effect: 83% of consumers say Small Business Saturday inspires them to shop small year-round, emphasizing the movement’s long-lasting impact.
Success Stories from Small Business Saturday
Small Business Saturday isn’t only about sales; it’s also about fostering growth. For example, Kidz Enterprise Toys reported a 126% increase in sales thanks to this initiative, while other businesses have called it their best sales day of the year. This success can often be attributed to early promotions, in-store exclusives, and partnerships with local influencers.
Strategies for Success on Small Business Saturday
For small businesses, planning ahead is essential to make the most of this opportunity. Here are a few effective strategies:
- Promote Early and Widely: Leveraging hashtags like #ShopSmall and #SmallBusinessSaturday on social media helps to reach new audiences. Collaborative posts with nearby businesses can amplify visibility even further
- Offer Unique Promotions: Special deals, loyalty programs, and community events can attract both new and returning customers, reinforcing the value of supporting locals.
- Balance In-Store and Online Sales: Small Business Saturday isn’t just for brick-and-mortar locations. In 2023, 56% of small businesses reported equal success online and in-store, demonstrating the value of digital presence
- Collaborate Locally: Businesses that team up with others for shared promotions often see a greater impact, turning shopping into a community event rather than just a transaction.
Looking Ahead: The Growing Movement of Small Business Saturday
Since Small Business Saturday began, it has generated over $120 billion in revenue. This growth reflects not only the dedication of local shoppers but also the efforts of small business owners to create welcoming and personalized shopping experiences. As awareness continues to expand, both businesses and consumers can look forward to another successful year of supporting small businesses.
By choosing to shop small this season, customers contribute to a cycle of economic support that directly benefits their communities. Whether you’re a business owner preparing for the holiday season or a consumer eager to make a difference, Small Business Saturday is a powerful reminder that local spending fuels local growth.
How Nexi Can Help Small Businesses Thrive on Small Business Saturday and Beyond
For small businesses that have taken on multiple Merchant Cash Advances (MCAs), keeping up with several daily or weekly payments can lead to cash flow challenges and financial strain, especially over the shopping season. Reverse Consolidation offers a solution by combining these payments into one manageable plan, reducing payment stress and freeing up cash flow. This streamlined approach helps businesses regain control, allowing them to focus on growth and sustainability rather than juggling multiple repayments.
Ready to simplify your finances and take advantage of Small Business Saturday? Reach out to Nexi today and explore how Reverse Consolidation can empower your business.
📞 Take the next step for your business success—call us at 1-800-499-NEXI (6394)
