The fourth annual Small Business Saturday (SBS) on Nov. 30., which will be falling on the Saturday between ‘Black Friday’ and ‘Cyber Monday,’ serves as the official kickoff for the holiday shopping season for small businesses by calling on consumers to go out and ‘shop small.’
With five fewer shopping days between Thanksgiving and Christmas, many small business owners say they’ll be pulling out all of the stops to get customers into stores during the critical holiday shopping season. According to the second annual SBS Insights Survey, released by the National Federation of Independent Businesses (NFIB) and American Express, more independent merchants will feel the Christmas creep as they start their promotional activity earlier than last year.
For the first time this year, NFIB is working with American Express (AMEX), along with the National Urban League and the Black Chamber of Commerce, in launching a multicultural outreach campaign to engage African American audiences with SBS, as AMEX recognizes the significant impact African American business owners have on the economy.
Black-owned firms have seen higher growth rates than other ethnic firms in the past decade, particularly in employment–an important fact, as many small businesses hire extra employees from within their communities during the holiday season. Black consumer buying power is anticipated to reach $1.1 trillion by 2015. By participating in SBS and using the resources available through the program, Black business owners can tap into this market during the largest shopping season of the year and further sustain the economic vitality of their community.
For many of the small business owners who are aware of SBS, the day will be a part of their promotional calendar. Of those small business owners incorporating SBS into their holiday plans, 70% say SBS will be helpful in attracting new customers.