Small Business Saturday is a shopping holiday dedicated to local companies and how they contribute to the community. In 2022, it took place on Saturday, 26 November in the US, and on 3 December in the UK.
American Express first introduced Small Business Saturday back in 2010. The reason – after the recession, a lot of small businesses struggled to stay afloat and needed support from their local communities. Although it originates from the US, the holiday was also appropriated in the UK in 2013. To this day, American Express remains the main supporter of Small Business Saturday worldwide.
Let us now discuss why Small Business Saturday is so important, and how you can get your business ready for the event early on.
What Did We Learn From Small Business Saturday 2022?
Despite the pandemic situation and economic hardships throughout the years, Small Business Saturday is a great initiative that stood the test of time. This year, the event in the UK was more successful than ever before. Although UK shoppers are expected to spend £4.4bn less this festive season, small businesses showed they are well-adjusted to the market and the consumer’s needs.
However, it is important to note that small businesses need our constant support and understanding. Here are some lessons that we learned from Small Business Saturday 2022:
- Employee Engagement is Crucial. Employees should be engaged with their company’s mission, values and goals in order to effectively promote and advertise your business. Having staff dedicated to the cause helps create a positive work environment, as well as brand loyalty within the customer base.
- Invest in Competitions and Rewards. Customers should be incentivized to take part in Small Business Saturday with attractive rewards and competitions, such as discounts and freebies. This is a great way to engage shoppers, boost sales and build brand recognition within the community.
- Utilize Social Media. Social media platforms can be an effective way to reach a broader audience and promote your business. Utilize storytelling techniques, as well as visuals such as images and videos, to help you create compelling content that will attract customers from all over the world.
- Have Initiatives Planned For The Whole Year. Small businesses should plan initiatives and campaigns that extend beyond Small Business Saturday, such as offering rewards for customers that regularly visit your store. This will help boost repeat purchases and ensure customer loyalty in the long term. Also, it will give newcomers something to look up to.
Why Is Small Business Saturday Important?
Small Business Saturday is an essential holiday for many small businesses. It provides them with publicity and a way to connect with potential customers in the local community. This event also raises awareness about how much these companies contribute to the economy, creating jobs, providing products and services, and even contributing to charities.
Moreover, Small Business Saturday has become a symbol of support for small businesses all around the world. People are encouraged to shop at their local stores and celebrate the uniqueness of each business in their community.
Last year, on Small Business Saturday, over 1 million people visited small businesses in the US and UK. This shows how important it is for companies to take advantage of this day, as it can help them increase their sales and gain more customers.
How Are Small Businesses Important For the Economy
Small businesses are an integral part of the economy, creating jobs and providing services. They often act as incubators for new ideas and innovations, which can ultimately have a positive effect on the national economy.
In fact, small businesses create 1.5 million new jobs annually in the US alone. That’s 64% of the new positions overall.
Furthermore, small businesses often contribute to charities. In 2020, American Express reported that 1.3 million small businesses donated over $180 million to charity as a result of Small Business Saturday.
How To Plan For Small Business Saturday?
To make the most of Small Business Saturday, it is best to plan ahead. Here are some tips:
- Create promotional campaigns and discounts for customers who shop at your store. Offering discounts or freebies can help increase traffic in your store on Small Business Saturday.
- Take advantage of digital marketing to reach a larger audience. Use social media platforms such as Instagram and Facebook to promote your store and post countdown messages as the event day approaches.
- Make sure that your store and/or warehouse is well-stocked with products and services. Display them attractively so customers can easily see what you have to offer.
- Reach out to the local media to get the word out about your business.
- Re-evaluate your strategies and reflect on what worked best for you this year. This will help in planning better for the next Small Business Saturday.
Ideas You Can Try On Small Business Saturday 2023
Small Business Saturday is a great opportunity for businesses to increase their profits and get more visibility. Here are some ideas that you can use when planning your store’s promotion in 2023:
- Offer free samples or giveaways to customers who shop at your store.
- Organize special events and activities such as discounts, contests and raffles.
- Create a loyalty program for customers who shop regularly at your store.
- Use creative marketing tactics to reach out to more potential customers.
- Offer online discounts or promotions that encourage customers to shop from the comfort of their own homes.
- Run customer surveys and feedback programs to understand what they think of your store.
What Can Consumers Do To Support Small Businesses?
Consumers can do their part to support small businesses on Small Business Saturday and throughout the year.
Why not go to the local store to do your shopping instead of always going for the big supermarkets? You can also make an effort to shop online from small businesses, as this will help them gain visibility and increase sales. Additionally, you could spread the word about your favorite stores and recommend them to friends and family.
Also, you can become a loyal customer and shop regularly at a small business. Small businesses often have loyalty programs that reward customers for their repeat purchases. This could be anything from discounts, freebies or even custom gifts. For example, some independent coffee and cake shops offer their customers free drinks after visiting the place a set number of times. Usually, they give you a card and they put a stamp on it at every visit.
Another way to support your local small businesses is to leave reviews and feedback on their social media pages. This will help them to attract more customers, as people often rely on online reviews when selecting a business.
Small businesses often need extra help, especially during the end-of-year festive season. So, a great way to support them is to volunteer or offer your expertise in marketing, accounting and other areas that could help them out. By supporting local small businesses in any way you can, you are helping to strengthen the local economy and create an opportunity for others to become financially independent and successful.
Something else to consider is donating to charities that are dedicated to helping small businesses in need. This is a great way to show your support and help these businesses in times of hardship.
Small businesses are the backbone of every community and economy. They need our support, now more than ever. This is why Small Business Saturday is so important. It reminds us to shop locally and support the businesses that make our communities special. We hope you enjoyed this blog post and please remember to keep small businesses in mind all year long!