For both Small Business Saturday and Black Friday, foot traffic is vital. But for Small Business Saturday, it’s everything. Black Friday promotions now begin days or weeks before the actual day, with participation from almost every national brand you can think of, fueling a mix of online and brick-and-mortar sales. On the other hand, Small Business Saturday is a one-day opportunity.
Small Business Saturday 2019 is on November 30
This Saturday will mark the 10th consecutive year that American Express will coordinate Small Business Saturday. As always, it falls on the first Saturday after Thanksgiving, and the goal is to encourage spending at small businesses across America.
Small Business Trends was invited to hear entrepreneurs’ thoughts on local retail, including Broadway actor and impresario Lin-Manuel Miranda and international model and entrepreneur Karlie Kloss. The November 21 gala was hosted by American Express in New York City.
On the common ground between art and starting a business, Miranda said, “There’s something in there about the artistic impulse and the impulse to start your own business coming from the same place. What doesn’t exist in the world that should? That’s what artists are creating all the time, that’s what small business owners are creating.”
American Express CMO Elizabeth Rutledge added that for every dollar spent in a local small business, 67 cents stay in that community.
The Local Ties That Bind
Shoppers who normally buy from small businesses throughout the year don’t need a once-a-year reminder, do they? Producer Miranda said of a revamped bookstore coming in 2020, “The Drama Bookshop was so much more than what was on sale. It is an artistic center, it is a home where I met people I wouldn’t have normally met. An algorithm can tell you what books you might like, but you’re not gonna get that ‘staff favorite’ from an algorithm. You’re not gonna get that out-of-left-field recommendation. It’s about interacting with other people.”
Midwest-born Kloss said she saw first-hand how a family business can add strength to a local economy. Her grandparents ran an antique furniture restoration business which was passed down to the next generation. “My aunts, my uncles, they were all involved, it was very much a family business. So I understand the importance of supporting small businesses and how that affects families and communities.”
What Do You Think of Small Business Saturday?
Are you gearing up for Small Business Saturday? What promos or specials do you run? To find out more about American Express Small Business Saturday, visit ShopSmall.com or the Small Business Saturday Facebook page.
Pictured: Elizabeth Rutledge, Lin-Manuel Miranda, Karlie Kloss
Images: Alex Yong