American Express Supports Local Businesses on Small Business Saturday

American Express created Small Business Saturday as a way to encourage shoppers to support their local communities. This year, the company predicts that millions of people will turn out to shop small on November 25th, just before Black Friday. Small business owners are hopeful that this year's Small Business Saturday will help them generate enough revenue to carry them through the rest of the year and into 2024.

The Importance of Shopping Small

Small Business Saturday, unlike Prime Day, Black Friday, or Cyber Monday, is a shopping holiday that promotes supporting local businesses. It's about strengthening communities and fostering a sense of togetherness.

• American Express emphasizes that shopping small benefits the entire community.
• For every $1 spent at a local business, over $0.68 remains in the local community, supporting local families, causes, and other local businesses.
• This concept is known as the multiplier effect, which helps to create a ripple effect of economic activity within a community.
• In contrast, when you shop at a national retailer, only $0.30 to $0.40 stays in the local community.

American Express: Supporting Small Business Saturday

American Express, the creator of Small Business Saturday, is committed to supporting small businesses. The company has provided millions in grants and other resources to help small businesses thrive.

Shoppers are Drawn to Local Businesses

More shoppers are embracing the idea of shopping small for many reasons.

• Shoppers value unique gift ideas, which are often found at local businesses.
• They appreciate the personalized customer service provided by small business owners.
• And they recognize that shopping small helps to build a sense of community.

Small Businesses Need Support

The National Federation of Independent Business (NFIB) has reported that the Optimism Index for small businesses has declined, signaling ongoing challenges and uncertainty.

• Small business owners are facing headwinds such as inflation, rising labor costs, weak sales, and staffing shortages.
• These challenges make it difficult for small businesses to remain competitive with larger companies.

American Express: Helping Small Businesses Succeed

American Express recognizes the challenges small businesses face and is working to help them succeed.

• American Express provides resources, marketing support, and financial assistance to help small businesses thrive.
• The company also promotes Small Business Saturday to encourage shoppers to support their local communities.

The Future of Small Business

The message of "shopping small" is resonating with consumers. They understand the importance of supporting their local businesses and communities.

• American Express is working to amplify this message and help small businesses benefit from the growing trend of "shopping small."
• Small business owners remain optimistic about the holiday season, expecting strong sales and a successful end to the year.