As the holiday shopping season approaches, the National Federation of Independent Business (NFIB) is urging its retail and restaurant members to capitalize on Small Business Saturday. Scheduled for November 25, this event follows Black Friday and precedes Cyber Monday. Last year, consumer spending reached $17.9 billion during Small Business Saturday, as reported by the U.S. Small Business Administration.
A study highlights that “an average two-thirds of every dollar ($0.67) spent at small businesses in the U.S. stays in the local community.” It further notes that “every dollar spent at small businesses creates an additional 50 cents in local business activity as a result of employee spending and businesses purchasing local goods and services.”
Small Business Saturday was initiated by NFIB in 2010 and has grown into a national event over its 14-year history. It serves as a platform for supporting small, independent businesses that contribute to community strength.
NFIB offers several strategies for shops and restaurants to optimize their participation:
1. Engage actively on social media platforms like Facebook, Twitter, Instagram, or Pinterest to promote deals using hashtags #ShopSmall and #SmallBizSat.
2. Highlight merchandise suitable for gifting by grouping items with signs suggesting them as perfect gifts for family members.
3. Introduce doorbuster deals similar to those offered by chain stores to attract customers throughout the day.
4. Collaborate with nearby businesses for joint advertising efforts or in-store promotions to enhance neighborhood shopping appeal.
5. Inform regular customers about Small Business Saturday through signage and flyers reminding them of post-Thanksgiving specials.
