Key Takeaways:
- Online shopping at a small business on Small Business Saturday
was up slightly, with 58% of shoppers reporting that they made a
purchase online, compared to 56% in 2020 and 43% in 2019.
- More shoppers were eager to support independent restaurants
with 54% reporting that they dined or ordered takeout from a small
restaurant, bar or café, up from 48% in 2020.
- 70% of respondents reported Small Business Saturday makes them
want to encourage others to shop at small, independently-owned
retailers.
As consumer spending continues to rebound, U.S. shoppers showed
up in a big way for the small businesses in their communities
during this year’s Small Business Saturday on November 27,
positioning American Express’ (NYSE: AXP) 12th annual event to be
one of the most impactful shopping days of the holiday season. The
results of the American Express 2021 Small Business Saturday
Consumer Insights Survey show that total reported projected
spending among U.S. consumers who shopped at independent retailers
and restaurants on Small Business Saturday reached an estimated
$23.3 billion1, up 18% from $19.8 billion in 20202 and an increase
from pre-pandemic spending in 2019 ($19.6 billion).
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Kido in Chicago IL (Photo: Business
Wire)
Over the past 12 years consumers reported spending an estimated
$163 billion at small businesses on Small Business Saturday, since
American Express started the movement in 20103. This year,
thousands of American Express Neighborhood Champions across all 50
states celebrated Small Business Saturday in their local
communities.
“This Small Business Saturday, communities coast to coast came
together to show their support for the small businesses they
cherish,” said Elizabeth Rutledge, Chief Marketing Officer at
American Express. “We can all make a difference when we Shop Small®
and American Express is committed to encouraging consumers to do so
all year long through our goal to drive $100 billion in consumer
spending at small businesses over the next five years4.”
As communities continue to navigate the effects of the pandemic,
particularly underrepresented business owners who were hit harder,
consumers say they are being mindful about the businesses they
frequent this season, with 64% of those surveyed stating they make
it a priority to seek out and shop at underrepresented-owned
businesses in their communities.
“Small Business Saturday is a way for us to engage with our
community and show people why it's important for us to have each
other's backs,” said Ali Rose of Genusee, a Flint Michigan-based
eyewear company. “We’re here because we want to create jobs in our
community, not just to sell items, because creating local
employment is as important as having special places to shop and
gather together.”
A majority (79%) of consumers understood the importance of
supporting the small businesses in their community on Small
Business Saturday this year and 66% reported that the day makes
them want to Shop Small all year long. In addition, the 2021 Small
Business Saturday Consumer Insights survey revealed that online
shopping, an important source of revenue for small businesses, was
up slightly on the day, with 58% of shoppers making a purchase
online, compared to 56% in 2020 and 43% in 2019.
With small businesses in need of continued support to help
navigate the effects of the pandemic, American Express is asking
consumers to prioritize shopping at independent retailers in their
community throughout the holiday season. New research released
earlier this month by American Express found that consumers
shopping small throughout this holiday season have the potential to
contribute an estimated $695B into the U.S. small business
economy5. In the same study, 78% of independent retailers said
these holiday sales are critical and will enable them to stay in
business in 2022.
Consumers can find American Express accepting small businesses
in their community to shop at all holiday season long through the
Shop Small Map.
ABOUT AMERICAN EXPRESS
American Express is a globally integrated payments company,
providing customers with access to products, insights and
experiences that enrich lives and build business success. Learn
more at americanexpress.com and connect with us on
facebook.com/americanexpress, instagram.com/americanexpress,
linkedin.com/company/american-express, twitter.com/americanexpress,
and youtube.com/americanexpress.
Key links to products, services and corporate responsibility
information: personal cards, business cards, travel services, gift
cards, prepaid cards, merchant services, Accertify, Kabbage, Resy,
corporate card, business travel, diversity and inclusion, corporate
responsibility and Environmental, Social, and Governance
reports.
ABOUT SMALL BUSINESS SATURDAY
November 27 is the 12th annual Small Business Saturday, proudly
backed by American Express. Dedicated to supporting the diverse
range of local businesses that create jobs, help boost the economy,
and enhance neighborhoods around the country, Small Business
Saturday was created by American Express in 2010 in response to
small business owners’ most pressing need: getting more customers.
Learn more at and connect with us on ShopSmall.com,
instagram.com/shopsmall, facebook.com/SmallBusinessSaturday.
ABOUT SHOP SMALL
Shop Small is a movement that supports small, independent
businesses and calls attention to the valuable and distinct
contributions they make to their communities and the economy. Shop
Small celebrates small businesses ranging from retail stores and
restaurants to fitness studios and salons, and everything in
between. The Shop Small movement was spurred by the widespread
participation in Small Business Saturday, a day founded in 2010 by
American Express. This national holiday shopping tradition is
dedicated to celebrating small businesses and driving more
customers through their doors on the Saturday after Thanksgiving.
November 27, 2021 marks the 12th annual Small Business Saturday,
proudly backed by American Express. Learn more and connect with us
on ShopSmall.com, instagram.com/shopsmall,
facebook.com/SmallBusinessSaturday
ABOUT THE AMERICAN EXPRESS 2021 SMALL BUSINESS SATURDAY
CONSUMER INSIGHTS SURVEY
The American Express 2021 Small Business Saturday Consumer
Insights Survey was conducted by Teneo on behalf of American
Express and the National Federation of Independent Business (NFIB).
The study is a nationally representative sample of 2,426 U.S.
adults 18 years of age or older. The sample was collected using an
email invitation and an online survey. The study gathered
self-reported data and does not reflect actual receipts or sales.
It was conducted anonymously on November 28, 2021. The survey has
an overall margin of error of +/- 2.0%, at the 95% level of
confidence. Projections are based on the current U.S. Census
estimates of the U.S. adult population, age 18 years and over.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements, which are
subject to risks and uncertainties. The forward-looking statements
contain words such as “expect,” “estimate,” “goal,” “intend,”
“plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,”
and similar expressions. Actual results may differ from those set
forth in the forward-looking statements due to a variety of
factors, including those described in American Express’ filings
with the Securities and Exchange Commission. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date on which they are made. American
Express undertakes no obligation to update or revise any
forward-looking statements.
Source: American Express Company
Location: U.S.
__________________________
1 The American Express 2021 Small Business
Saturday Consumer Insights Survey was conducted by Teneo on behalf
of American Express and the National Federation of Independent
Business (NFIB). The study is a nationally representative sample of
2,426 U.S. adults 18 years of age or older. The sample was
collected using an email invitation and an online survey. The study
gathered self-reported data and does not reflect actual receipts or
sales. It was conducted anonymously on November 28, 2021. The
survey has an overall margin of error of +/- 2.0%, at the 95% level
of confidence. Projections are based on the current U.S. Census
estimates of the U.S. adult population, age 18 years and over.
2 The American Express 2020 Small Business
Saturday Consumer Insights Survey was conducted by Teneo on behalf
of American Express and the National Federation of Independent
Business (NFIB). The study is a nationally representative sample of
2,572 U.S. adults 18 years of age or older. The sample was
collected using an email invitation and an online survey. The study
gathered self-reported data and does not reflect actual receipts or
sales. It was conducted anonymously on November 29, 2020. The
survey has an overall margin of error of +/- 2.0%, at the 95% level
of confidence. Projections are based on the current U.S. Census
estimates of the U.S. adult population, age 18 years and over.
3 This spend statistic is an aggregate of
the average spend as reported by consumers who shopped small on
Small Business Saturday in surveys commissioned by American Express
reporting spend habits on Small Business Saturday since 2012. It
does not reflect actual receipts or sales. Each such survey was
conducted online among a nationally representative sample of U.S.
adults. The data was projected from the samples based on then-
current U.S. Census estimates of the U.S. adult population
(18+).
4 Based on spend as reported by consumers
in surveys commissioned by American Express (not actual receipts or
sales).
5 The analysis of the 2021 potential
impact from holiday spending, was conducted by Econsult Solutions,
Inc. (ESI). ESI calculated the number and composition of small
businesses in the US using data from the U.S. Census Statistics of
US Businesses and the Bureau of Economic Analysis and spending
among all US small businesses in select industries using the
American Express Shop Small Impact small business owner survey data
from Teneo on estimated revenue at small businesses during the 2021
holiday period.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211128005237/en/
AMERICAN EXPRESS Megan Hunsicker
megan.c.hunsicker@aexp.com
DAY ONE AGENCY Keri Fitzpatrick keri@d1a.com
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