Greater awareness of the event led to record-high spending—a boon for small businesses that rely heavily on holiday sales.
Small businesses across America had another big Small Business Saturday this year.
According to the 2018 Small Business Saturday Consumer Insights Survey, produced by American Express and NFIB, 104 million shoppers spent a record high of $17.8 billion this year.
“Small and independent businesses depend on holiday sales and the shoppers that Small Business Saturday brings into their stores and online shops,” said NFIB President and CEO Juanita D. Duggan. “Small businesses contribute so much to the economy and unique character of our communities, and we’re proud to join American Express to support them on Small Business Saturday and throughout the year.”
Ahead of the weekend, a record high of 70 percent of American adults said they were aware of Small Business Saturday. More shoppers visited local small and independent businesses on the day of the nationwide small business day this year, with 42 percent shopping with family and friends at independently-owned businesses. And, in more good news for small business owners, 83 percent reported encouraging others to also dine small, according to the survey.
Americans went out in force to support local restaurants, bars and pubs, clothing and accessory stores, food stores, and coffee shops with 59 percent of small business owners reporting that Small Business Saturday contributes significantly to their holiday sales each year.
Small Business Saturday started in 2010, when many of the nation’s Main Street business owners were struggling to come back from the Great Recession. Two years later, by 2012, all 50 states were participating in the event.