Small Business Saturday:The Antithesis of Black Friday

Small Business Saturday:The Antithesis of Black Friday

American consumers know all too much of the annual madness that is Black Friday. Door buster specials, limited-time offers, and the price-driven deals draw masses of people to big retailers. We have seen it on television for many years now: the doors open at stores such as  Wal*Mart, Target, and Best Buy, and a.stampede of bargain hunters.storm through the doors.
According to the National Retail Federation, holiday sales this season are projected to increase 3.7 percent to $630.5 billion. This gift-giving season is expected to result in the creation of up to 750,000 seasonal employment positions, many of which will be generated by small businesses. An estimated 135.8 million shoppers are expected to participate in online and in-store shopping on Thanksgiving weekend.
Small Business Saturday, driven largely by American Express, is designed to draw more consumers to mom-and-pop shops and small retailers. Now in its sixth year, the observance falls on November 28. The “Shop Small” movement encourages people to patronize at small businesses, and millions of individuals, including President Obama, have embraced it.
How effective is the promotion? In 2014, a reported $14.3 billion was spent by 88 million consumers on Small Business Saturday, and the number has gradually increase since its inception. American Express provides signage, email templates, and free listings on ShopSmall.com.
So, why should consumers shop small?
Small businesses power the U.S. economy. In fact, according to the SBA, they represent 54% of all domestic sales and generate approximately 40% of all retail jobs. Small businesses add vibrancy and strengthen communities, as well as their local economies.
Small stores pride themselves on high levels of customer service, the one-on-one attention that big box retailers simply cannot offer. While typically small retailers cannot compete well on price, they can offer unique items, helpful service, and the personal touch that seems to get lost in the Black Friday hysteria. Smart retailers partner with other businesses, such as nearby restaurants, on special promotions to generate added value for customers. Savvy marketers will take it another step and promote deals and partnerships on social media with the hash tags #SmallBusinessSaturday and #ShopSmall.
It is important that we remember to shop local at the stores that support out community not just on Small Business Saturday, but all throughout the year. Small business is the key to the American economy and this annual initiative has evolved as a great way to offer support to the great entrepreneurs of our country.
COINED FROM FORBES