Created by American Express in 2010 and celebrated on November 27, the day encourages consumers to shop locally while looking for unique, one-of-a-kind, and thoughtful gifts for loved ones during the holiday season. Here’s what that means for your small business.
Could the pandemic have ended all the buzz around Black Friday? As consumers change their shopping habits in this ever-evolving new landscape, it looks as if the lights around Black Friday are dimming, while retail holidays like Small Business Saturday are beginning to grow brighter.
Created by American Express in 2010 and celebrated on November 27, the day encourages consumers to shop locally while looking for unique, one-of-a-kind, and thoughtful gifts for loved ones during the holiday season.
It’s a sentiment that has grown amid the pandemic, a recent Holiday Shopping Trends 2021 report found that:
- 78% of consumers now think more carefully about how they spend their money; and
- 63% of these consumers are willing to pay more for gifts made locally.
On top of that, another study from Integer Group found that 53% of consumers say they would support brands that help benefit local causes over global/national causes.
These numbers are backed up by the fact that 2020’s Small Business Saturday saw an estimated 50% of Americans spend $19.8 billion at independent retailers and restaurants. This is up from $19.6 billion in 2019.
What does this mean for your brand?
As consumer confidence rises, we can infer that even more will be shopping small and locally this year. The data also points to this shopping happening online. In 2020, American Express found that 56% of Small Business Saturday shoppers did so online, up from 43% in 2019. Meanwhile, 43% took advantage of special offers and promotions offered that day.
For marketers and brand advertisers, a multi-platform campaign can help amplify your holiday campaigns, offers, and promotions with a mix of Broadcast, OTT, Digital Solutions, and TEGNA Attribution – or create a Custom Solution of your own. Doing so can mean a big boost from your brand, especially on a relatively new retail holiday that is beginning to boom as consumer shopping habits change.
Does advertising with TEGNA sound like a good idea for your brand? Contact us today to gear up for Small Business Saturday.