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Nearly $20 billion spent by Americans this Small Business Saturday®

Release Date: 
Tuesday, December 3, 2019
Release Number: 
20-08
Contact: 
Matthew.Coleman@sba.gov

American consumers spent $19.6 billion at independent retailers and restaurants on Small Business Saturday, according to data released yesterday from the 2019 Small Business Saturday Consumer Insights Survey.  On the kickoff to the holiday shopping season, shoppers from coast to coast made an impact at small businesses during the 10th annual Small Business Saturday, held on November 30, 2019.  

 

Started by American Express in 2010 and co-sponsored by the U.S. Small Business Administration since 2015, Small Business Saturday® is the day between Black Friday and Cyber Monday.  It continues to provide small business owners across the country with a big economic boost during the holiday shopping season. 

 

This Small Business Saturday saw increases in the number of shoppers and the overall amount spent at local and independent stores.  A 3 million increase in number of consumers  participating in Small Business Saturday (110 million estimated in 2019 vs. 104 million in 2018) brought an almost $2 billion increase in total amount spent ($19.6 billion estimated for this year compared to $17.8 billion in 2018).

 

“Small Business Saturday is demonstrable proof of the big economic benefits of shopping small.  Seven in ten adults are not just aware of the day but they conscious of the of the positive impact local small businesses have in their communities,” said SBA Regional Administrator Steve Bulger who oversees the federal agency’s operations in New York, New Jersey, Puerto Rico and the U.S. Virgin Islands.

 

Bulger also pointed to the finding that a vast majority of survey respondents, 96%, who shopped on Small Business Saturday agree that shopping at small, independently-owned businesses supports their commitment to making purchases that have a positive social, economic and environmental impact.

 

The survey was conducted by American Express and the National Federation of Independent Businesses.

 

Throughout the SBA New York District Office, this was certainly the case.  From New York City, throughout Long Island and across the Lower Hudson Valley, SBA District Director Beth Goldberg noted New Yorkers came out in droves to support local independent businesses.

 

“Small businesses across our area saw a barrage of customers come patronize their shops, celebrating what makes our downtowns and local centers of commerce unique.  From mom-and-pop restaurants to corner boutiques, local florists, independent book shops and coffee houses, small businesses and entrepreneurs make our communities stronger,” said Goldberg.

 

Goldberg also noted that the numbers bear this out.  “When someone spends $100 at a local small business, $48 is recirculated in our local economy.  But if that same $100 is spent at big box store or national retailer, only $14 makes it back to our local economy,” she added.

 

Meanwhile, many shoppers using smartphones, spent $3.6 billion buying online from small businesses on Small Business Saturday.  Adobe Analytics, which tracks online sales, says that’s up 18% from a year earlier.  Adobe reported holiday season sales are on track to grow 14.9% from 2018.  Small businesses have already garnered $68.2 billion in online sales from November 1 to November 30.

 

According to the 2019 Small Business Saturday Consumer Insights Survey, 97% of consumers who shopped on Small Business Saturday agree that small businesses are essential to their community and 95% reported the day makes them want to shop or eat at small, independently-owned businesses all year long, not just during the holiday season. The SBA continues to inspire neighbors to make a conscious decision to Shop Small® year-round by recognizing their spending at local merchants and community businesses.

 

 


Cosponsorship Authorization # 19-2050-93. SBA’s participation in this cosponsored activity is not an endorsement of the views, opinions, products or services of any cosponsor or other person or entity. All SBA programs and services are extended to the public on a nondiscriminatory basis.

 

About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

 

About the 2019 Small Business Saturday Consumer Insight Survey

The 2019 Small Business Saturday Consumer Insights Survey was conducted by Teneo on behalf of American Express and the National Federation of Independent Business (NFIB). The study is a nationally representative sample of 2,287 U.S. adults 18 years of age or older. The sample was collected using an email invitation and an online survey. The study gathered self-reported data and does not reflect actual receipts or sales. It was conducted anonymously on December 1, 2019. The survey has an overall margin of error of +/- 2.0%, at the 95% level of confidence. Projections are based on the current U.S. Census estimates of the U.S. adult population, age 18 years and over.