What is Small Business Saturday?
November 17, 2020
Did you know that for every dollar spent at a small business in the U.S. $0.67 stays in the local community? With so many events going on during the holidays it’s easy to get lost when competing with big stores. Thankfully, Small Business Saturday is a day created for the purpose of giving small shops like yours some recognition. Promote it and increase your sales just in time for the end of the year!
What is Small Business Saturday?
Small Business Saturday, part of the Shop Small Movement, was created by American Express during the recession in 2010. It was created to encourage and remind people to shop at their local shops during the busy Black Friday weekend. Small Business Saturday takes place on the Saturday after Thanksgiving, this year it lands on November 28th. One year after it was created in 2011, a resolution in support of Small Business Saturday was unanimously passed by the Senate. On top of that, the day gets acknowledgment from the president of the United States. Last year in 2019, Small Business Saturday brought in $19.6 billion in revenue, breaking the record from 2018’s $19.8 billion. If that doesn’t convince you to take advantage of the day I don’t know what will.
What does Small Business Saturday look like in 2020?
American Express realizes this year is different, as the founders of Small Business Saturday, they are providing small shops with resources. American Express has services for shipping, connecting with customers, and re-stocking your shop as well as COVID19 related items. They also have an amazing resource which is where you can list your store so that shoppers can find stores nearby to shop at. I would suggest looking at the neighborhood champions, use these stores near you as an example. See what those champions are doing and learn from them.
Another option your store has is a Facebook Live auction, those are going to be super popular this holiday season. Facebook Live will allow you to reach every customer possible and especially those who are not willing to risk leaving their home. We don’t want Facebook Live auctions to be another headache for you so we combined our Shopify plugin with LoyalShops. This allows the LoyalShops system to track responses during the auction. We highly suggest Facebook Live auctions this year as they will allow you to increase your sales and reach more people at once.
What should you do?
Small Business Saturday includes retail stores and service businesses such as restaurants and cafes. Alyssa Gregory brings up the point that this event was created to remind us that we are a community. She suggests using partnerships to increase your sales, which can be as simple as distributing flyers for each other in your stores. If this goes well you can extend your collaboration and come up with a year-long marketing partnership. Having relationships with neighboring local stores increases your credibility and opportunities in your community.
Get to know your audience if you haven’t already, create polls on social media, or even contests. You can have your followers share a picture on their profile or on their story and the winner gets 25% off any items in your store on Small Business Saturday. You should also come up with creative sales tactics to get your audience interested. Caroline Quinn came up with some amazing strategies such as a mystery discount, sign up for our email and get an extra 10% off and many more ideas. Promote all your sales on social media, even promoting your shop on Facebook ads will be beneficial. All of your marketing tactics will depend on your target audience, learn what that is, and use it.
For more holiday sales inspiration click here.
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