88 Million Consumers Participated In This Year’s Event
The
Small Business Saturday Consumer Insights Survey from American Express and NFIB
found that 88 million consumers participated in Small Business Saturday this
year, marking a 14.9 percent increase over last year. According to the survey,
the average consumer spent $162, which is an 11.5 percent decline from last
year, but overall, consumers reported spending $14.3 billion with independent
retailers and restaurants, a 2.1 percent increase over 2013.
NFIB has you covered: Holiday Survival Guide for Small Business
What This Means For Small Business.
Holiday sales are vital for small
business, and are often the key to their making it into the black for the year.
Much like “Black Friday” sales, which were lower this year, Small Business
Saturday sales, which were relatively flat compared to last year, may not
necessarily reflect weak holiday spending this year, but may mean a change in
consumer behavior.
Additional Reading.
A press release about the event from American
Express can be seen here. The Washington Post and Forbes both report on the survey results.
This news article is intended to keep small business owners apprised of current events that may affect them. It does not necessarily reflect NFIB’s policy position on such issues.
