Small Business Saturday: What is it, and why is it so popular among holiday shoppers?
While Black Friday is often regarded as the unofficial start of the Christmas shopping season, its next day, i.e., Small Business Saturday, is gaining prominence. Holiday shoppers plan to shop more on Small Business Saturday than on Black Friday.
By ET Spotlight Special |
Agencies
Small Business Saturday, which encourages consumers to purchase at local independent merchants, hit a record last year, with sales topping $23 billion nationally. According to a new poll, more Christmas consumers expect to purchase on Small Business Saturday than on Black Friday.
That’s great news for businesses like Pigment in North Park, which has participated in Small Business Saturday for several years.
"These last few years really it feels like it has become massive, which is a lot of fun," said Regina Moomjean, merchandising director for Pigment, a fixture in North Park with a loyal local following, offering hundreds of unique brands.
"We've even got some of our own team members who sell their own earrings here, things like that," she added. "It's a wide range of products that we sell."
According to a recent poll, 63% of small merchants anticipate better revenues this Christmas season. It is despite growing inflation, which has reduced consumer purchasing power this year as the cost of producing things continues to rise.
FAQs:
What is Small Business Saturday?
Small Business Saturday, beginning in 2010, encourages consumers to shop at smaller, generally family-owned companies in their local community.
What do residents feel about this?
David Prill, a North Park resident, said he and his family always favor local shops over large box stores.
Black Friday falls on the first Friday after Thanksgiving Day in the United States and historically speaking, it marks the beginning of the holiday shopping season in America. ‘Tis the day when major shopping brands offer massive discounts, attracting buyers all across the country.
If you are in India, chances are that this year, you will see retail giants like Amazon, Myntra doing special sales for Black Friday that falls on November 27 to capitalise on the global buzz around the day.
Here’s a complete rundown of all the attractive deals Indian brands are offering, this Black Friday.
That’s great news for businesses like Pigment in North Park, which has participated in Small Business Saturday for several years.
"These last few years really it feels like it has become massive, which is a lot of fun," said Regina Moomjean, merchandising director for Pigment, a fixture in North Park with a loyal local following, offering hundreds of unique brands.
"We've even got some of our own team members who sell their own earrings here, things like that," she added. "It's a wide range of products that we sell."
Support for local businesses strengthens the economy
Economists have discovered that for every dollar spent at a locally owned firm, almost 70 cents stays in the community and is re-invested. For national shops, approximately 40 cents per dollar stays in the neighborhood. In this way, the economy becomes more pungent.ADVERTISEMENT
According to a recent poll, 63% of small merchants anticipate better revenues this Christmas season. It is despite growing inflation, which has reduced consumer purchasing power this year as the cost of producing things continues to rise.
FAQs:
What is Small Business Saturday?
Small Business Saturday, beginning in 2010, encourages consumers to shop at smaller, generally family-owned companies in their local community.
What do residents feel about this?
David Prill, a North Park resident, said he and his family always favor local shops over large box stores.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
