Small Business Saturday is an American shopping holiday conceived by American Express Corporation as a counterpart to Black Friday and Cyber Monday as a means to stimulate local economies, initiatives and organizations.
As the name implies, the holiday is centered around small, local businesses who traditionally offer incentives to encourage patronage of their stores, either the brick and mortar shops or their e-commerce sites. In turn, American Express has offered cash back incentives to those who make purchases on their company’s credit card with these local establishments.
Beyond these financial incentives are many other benefits you may have not before considered. We hope to give you some food for thought before you make that online or big box store purchase.
Supports your local economy
Studies have shown that local business on average generate up to 70% more local economic activity per square foot than a big box retailer. In short, this means that your hard-earned money is staying within your community as small business are more likely to make transactions at other local businesses, service providers, farms, etc.
Supports community groups
Shopping local also helps many small non-profit community groups who depend on the support of local businesses for donations to fund services.
Helps to keep your community unique
Many towns have stores that sell unique gifts and toys that you simply cannot find anywhere else. These stores help make a community home and are an important part of tourism.
Helps to create jobs
Shopping local helps create and maintain jobs within your community. According to a study regarding big box retailer, Walmart, it was discovered that for every new job created by Walmart, 1.4 jobs are lost as existing businesses need to downsize or close. When you shop at a local business, your contribution to job growth doesn’t stop there: local businesses are likely customers of other local establishments like printers, accountants and attorneys, expanding opportunities throughout the community.
Invests in your community
Local businesses are owned by people who live in your community and therefore are less likely to leave. Additionally, these people are more invested in your community’s future, since it is closely linked to the future of their businesses.
Market Mentors is committed to helping local businesses. Our team is poised and ready to help design your new brochures or flyers, boost your social media presence, help with your media planning and buying—and just about everything in between. To find out more about our full-service agency, please contact us to see how we can help.