Small Business Saturday follows Black Friday every year, and while both holidays, along with Cyber Monday, celebrate spending, Small Business Saturday has a more local feel.
Jennifer Gregory with Downtown Strategies said small businesses make a big impact on the local economy.
"When a consumer shops local approximately 48% of the cost of that purchase is recirculated back into the local economy, whereas when those consumers are shopping at a chain store, that number drops to about 14%," said Gregory. "And that's because those local store owners are hiring local marketing firms to help them with their marketing efforts, or working with local accountants and lawyers, and janitors and folks like that. So not only will it really enhance the customer experience, it helps the community as well."
Gregory made her comments on WDUN's Newsroom. She said the holidays are huge for small businesses, and she also said to expect last minute shoppers to be at small businesses this year as well.
"They've purchased items online, on Amazon, from their favorite retailers and they're now starting to get those emails where their orders have been canceled, they can't be fulfilled, the mail services aren't going to be able to deliver them in a timely manner," said Gregory. "So we're going to see shoppers showing up on Main Street, downtown, working with those small businesses super last minute."
As a result, Gregory predicts that this holiday season will quantify to more for small businesses.
Gregory said small businesses felt the supply chain disruption in 2020, so many ordered their holiday inventory early this year.
"Many of the small businesses we've talked to learned from COVID," said Gregory. She added not only was inventory purchased early, but local business works with other local businesses to get inventory, from artisans to vintage vendors.
And while inflation is a reality, Gregory said shoppers can still expect some deals on Small Business Saturday, especially with clothing, which Gregory said may be in surplus because of the pandemic.
Small Business Saturday was started in 2010 by American Express, Gregory said, and has since expanded.
http://accesswdun.com/article/2021/11/1058559/small-business-saturday-makes-impact-on-local-economy