NFIB offering a few tips for its retail and restaurant members to capitalize on
That time of year when consumer spending begins to accelerate approaches. NFIB is encouraging its retail and restaurant members to take advantage of it with a few tips.
Sandwiched between Black Friday (November 24) and Cyber Monday (November 27) is Small Business Saturday (November 25). Last year, shoppers and diners spent $17.9 billion on Small Business Saturday, according to the U.S. Small Business Administration.
According to one study, “an average two-thirds of every dollar ($0.67) spent at small businesses in the U.S. stays in the local community … further, every dollar spent at small businesses creates an additional 50 cents in local business activity as a result of employee spending and businesses purchasing local goods and services.”
NFIB helped kick off Small Business Saturday when it began in 2010. Now in its 14th year, Small Business Saturday has become a national event, an opportunity for people to support the small, independent businesses that make their communities strong.
Here are some of the ways shops and restaurants can make the most of Small Business Saturday:
- Stay on top of your social media. If you’re on Facebook or Twitter or Instagram or Pinterest, post often and promote any Small Business Saturday deals. Use the hashtags #ShopSmall and #SmallBizSat so shoppers can find you easily.
- Showcase merchandise that would make a great gift. Group items on a table with a sign saying it would be the perfect gift for mom or the grandparents, for example. Restaurants can offer Small Business Saturday specials and gift cards.
- Offer doorbusters. Chain stores know a great way to drive shoppers to their stores is by offering exclusive deals at different times of the day. There’s no reason small businesses can’t do the same thing.
- Partner with nearby businesses. Pool your resources to buy advertising promoting the neighborhood as a shopping destination or team up with other businesses on in-store promotions. For example, if someone buys a shirt at one store, tell them about the great deal on shoes at the shop next door.
- Don’t forget to tell your regular customers about Small Business Saturday. Put a sign in your shop and flyers in bags reminding folks to come back the Saturday after Thanksgiving for special deals.