Industry Insights

Small Business Saturday: 7 Ways To Be Retail Ready

Small Business Saturday can be a banner day for your business each year. Tucked between Black Friday and Cyber Monday, the Saturday after Thanksgiving celebrates local small businesses and encourages holiday shoppers to support them.

Whether you own a mom-and-pop retail store or a local restaurant, Small Business Saturday is an excellent opportunity for your business. Let’s dive into the history of Small Business Saturday and how you can take advantage of its benefits.

The History of Small Business Saturday

American Express launched the shopping holiday in 2010 when small businesses struggled due to the recession. In 2011, the Shop Small movement grew, with local officials promoting Small Business Saturday and the U.S. Senate passing a resolution in support of the day.

The holiday began gaining momentum in 2012 when American Express encouraged small business owners to promote their businesses. They introduced free marketing materials for these owners to spread more awareness about the initiative.

Where We Are Now

Since its inception in 2010, the total reported spend on Small Business Saturday has reached $201 billion. According to the American Express 2023 Saturday Consumer Insights Survey, 59% of US consumers who were aware of the day shopped or dined locally on Small Business Saturday last year. 61% of those shoppers found a small business or independently-owned restaurant that they’ll likely return to.

Small Business Saturday isn’t just recognized in the US, either — it’s making waves worldwide. Last year, an estimated 11 billion UK consumers shopped at local small businesses on Small Business Saturday. That same year, over 30,000 small businesses in Hong Kong participated.

The Big Impact Small Businesses Have on Your Community

It’s easy to overlook small businesses, especially as large national chains keep popping up in your neighborhood. However, the truth is there are about 33 million small businesses in the United States. Plus, they employ roughly 61.7 million people — meaning that small businesses employ almost half the private US workforce.

Small businesses clearly play such a huge role in the growth of a local economy; when they thrive, so do our communities.

These are just a few prime examples of how shopping small can positively impact your community:

Creates more local jobs: Supporting small businesses leaves more room for the company to flourish, creating more job opportunities for community residents.
Fosters innovation: Healthy competition encourages small business owners to create products and services that’ll stand out among the competitors, thus molding more innovative small businesses.
Increases local tax base: When locals spend money at small businesses within their communities, their tax dollars stay within the local economy, which helps to improve the community.
Encourages community involvement: Small businesses are the foundation of any community and tend to give back to local charities, missions, and events.

Registering Your Business for Small Business Saturday

Don’t worry — there’s no tedious registration required to participate in Small Business Saturday.

Getting started is as simple as downloading the free resources and marketing materials that American Express offers on their website. You can use these materials for social media posts, email templates, printed posters, and more. All you have to do is answer a few questions, and you’re ready to start promoting.

How to Promote Your Business on Small Business Saturday

There’s a wide variety of ways that you can promote your business on Small Business Saturday. Let’s take a look at some tips and strategies that you can use to promote your business.

1. Elevate your Digital Presence

Each holiday season, the number of shoppers making their purchases online increases. The trend is also relevant for Small Business Saturday shoppers. In 2023, 53% of Small Business Saturday shoppers reported shopping online at small businesses rather than large retailers.

Update your website. Add up-to-date business information and promotions to your business’s website. Ensure that you’re offering a user-friendly experience, regardless of device — a cumbersome website can turn off enthusiastic online shoppers.
Claim your online business profiles. Make sure that your Google Business Profile has an accurate address, phone number, hours of operation, etc., so shoppers find everything they need on a Google search. Do the same on Yelp for more visibility.
Publish long-form content. Write a Small Business Saturday blog post about your local area and use it in your inbound marketing campaign. This initiative can increase organic traffic to your website, leading to increased foot traffic in your storefront.

Social media is your go-to resource for any small business owner wanting to reach the masses. Over half of consumers research products on social media, making these platforms valuable real estate.

With more and more consumers turning to social media to research businesses, find product information, and read customer reviews, you’ll want to keep your social media profiles updated with accurate business information and fresh posts.

When you post, use hashtags including #SmallBusinessSaturday, #SmallBizSat, and #ShopSmall to help increase visibility. You can even create a custom hashtag to build engagement — encourage customers to share photos and other user-generated content with the unique hashtag.

3. Traditional Advertising Isn’t Dead

Although social channels are popular, that doesn’t mean traditional advertising is dead. Even if you have a limited budget, Small Business Saturday is an event that merits an advertising investment. Get the word out in local newspapers, on radio, and on television. Media companies often have packages that make advertising more affordable for small businesses, so look into your local options.

Consider also looking into posting signage around your neighborhood or investing in billboard advertising in a highly visible location. These tactics will help reach your local audience when they pass by during their daily commute.

Lastly, don’t discount the power of one-page flyers and brochures. Partner with other local businesses that are willing to keep your marketing material by their cash registers for customers to see.

4. Take Advantage of Free Resources and Partnerships

Speaking of partnerships, Amex continues to be a leading partner of small businesses and offers a variety of resources that you can use to kick off the holiday shopping season.

Some resources from American Express include customizable materials, an event planning checklist, an event flier template, and ideas and how-to videos to inspire creative ways to engage with the day.

You can also find resources from the U.S. Small Business Administration, which includes advice on marketing on a small budget and maximizing return on a holiday event.

One of the great things about Small Business Saturday is that you aren’t going at it alone. By partnering with other businesses in your area, you can multiply your marketing reach, develop effective cross-promotions, and build a strong sense of community that your customers will appreciate.

Contact your local chamber of commerce or business association to make the connections you need and find out about local promotional opportunities. You may also be able to find online groups that can provide advice and inspiration.

5. Base Decisions on Historical Data

If this is your first Small Business Saturday as a business owner, this section won’t apply to you for this year. However, it’s worth reading for next year and beyond.

Undoubtedly, your point of sale system is an integral part of your retail enterprise. From ringing up sales to tracking inventory, labor costs, and your most loyal customers, a POS system is a must-have for any brick-and-mortar business — especially a retail store.

Not only does your POS system help you manage your day-to-day operations, but it also provides a wealth of historical data and reporting features to help you make smarter, data-driven decisions. Case in point, what is a key factor in forecasting sales revenue? Bingo, historical data!

As you prepare for Small Business Saturday this year, look back at reports from previous years to help make those projections. Here are some questions to ask yourself:

What was your sales revenue?
What inventory items were the hot products that year? Are these products still popular, or has the fad faded?
How much did you spend on inventory preparing for Small Business Saturday?
Did you add additional employees over this time? How much did labor costs increase?
What was your busiest time of day?

Answering these questions will help you form a budget and set benchmarks for this year’s event. For instance, historical data can show you when to schedule staff so your customers have the assistance they need and sales associates aren’t standing around during slower times.

POS reports can also help you more accurately project sales volume and popular products so you can prepare stock appropriately.

6. Support Local Charities or Non-Profits

As shoppers are out in masses supporting your small business, it’s a great time to show your support for the local community and give back. Partner with a local charity or chapter of a national organization by donating a portion of your Saturday profits to the cause.

You can even take it a step further by inviting representatives from the group to be on-site to raise awareness and provide more information about the initiative.

Choose a cause that’s aligned with your brand’s values or has a strong connection to the community. Whatever you decide, you can never go wrong when you pay it forward, and chances are local shoppers will remember your community spirit and generosity long past November.

7. Remember, Pricing Isn’t Everything

Lastly, one area where you don’t want to be too generous is pricing. It’s tempting to slash prices like other big-box retailers to get more customers through your doors.

However, extreme discounts won’t benefit your bottom line. They may not be the reason customers are shopping at your store in the first place — 51 percent of buyers feel that service is more important than price.

Instead of slashing prices (and your profits), focus on customer experiences and exceptional in-store service. You can also use non-monetary incentives like prize drawings or extra loyalty reward points.

Make Small Business Saturday Count

While planning a Small Business Saturday strategy that will help you maximize foot traffic and revenues, don’t lose sight that it’s also the perfect opportunity to reconnect with your customers and neighbors. Maintaining those relationships can have a significant influence on customer loyalty.

Are you ready for Small Business Saturday? It’s your big day, so celebrate it!