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Small Business Saturday, a tradition started by American Express 11 years ago, happens on November 28 this year. In keeping with tradition, Small Business Saturday is the day after Black Friday, reminding Americans in the throes of holiday shopping to keep small businesses top of mind. This year, at a time when small businesses have faced extreme financial challenges in light of the pandemic, the Shop Small principle is more poignant than ever. And Amex’s commitment to shopping small—reflected in their frequent programs and resources for small businesses—has long since been an underlying theme for the brand.
This year, American Express’ invitation to Shop Small and Share Joy encourages shoppers across the country to share their favorite small businesses to shop from on social media. With 110 million people participating in Small Business Saturday last year, the holiday reportedly earned small businesses $19.6 billion in revenue in 2019. And for the 2020 holiday shopping season, as shoppers join the conversation, the reinforcement on social media could potentially help increase the small business economy. The American Express Shop Small Impact study recently found that 78% of small business owners see significant benefit from “positive feedback on social media.” Translating that into profits, the study “found that endorsements of small businesses on social media can be worth as much as an estimated $197 billion for the U.S. small business economy.”
“Small Business Saturday is an important part of our global Shop Small campaign, and small businesses need our support more than ever as they continue to navigate the effects of COVID-19,” said American Express chief marketing officer Elizabeth Rutledge. Rutledge said 88% of American consumers are more motivated to Shop Small this year to help businesses weather the pandemic closures. Small Business Saturday initially started in response to the 2008 Great Recession, as a way to support small business owners across the country. So it’s only fitting that, this year, they continue to inspire support of the businesses who need it most.
To join the conversation, American Express encourages consumers to share what their favorite small businesses are on social media, and perhaps why they’ve grown to appreciate these businesses, or what they’ll be buying this year. “Whether online, curbside, or safely in store, we’re reminding consumers that they can help make an impact by shopping small and sharing their favorite small businesses on social media all holiday season long,” concluded Rutledge.