Small Business Saturday Spending Exceeded Expectations According to Research from NFIB and American Express

Cynthia Magnuson-Allen, NFIB
202-314-2036, cynthia.magnuson@nfib.org

U.S. Consumers Spent $5.5 Billion “Shopping Small” on Saturday

Washington, D.C., November 27, 2012 – Small businesses across the country got their holiday season off to a strong start as millions of U.S. consumers “shopped small” on Small Business Saturday and made a big impact on local communities.

According to the second installment of the Small Business Saturday Consumer Insights Survey, released today by the National Federation of Independent Business (NFIB) and American Express, consumer awareness of Small Business Saturday jumped to 67 percent from 34 percent just two weeks ago.  Of those aware, nearly half (47%) shopped on Small Business Saturday.

The increased awareness translated into higher spending. Those U.S. consumers who were aware of Small Business Saturday spent on a total of $5.5 billion with independent merchants. Pre-holiday surveys estimated that U.S. consumers would spend $5.3 billion.

“In an uncertain economy, America’s small businesses have remained a beacon—creating good jobs and supporting the families they employ and the communities around them,” said NFIB CEO Dan Danner. “We are very pleased that so many Americans sought to give back by shopping small this Small Business Saturday. We hope that support of small firms, retailers, restaurants and other independent businesses continues throughout the holiday season and all year round. Continued support of this vital sector is one important way to ensure our economy fully recovers and a healthy private sector is restored.”

Highlights of Small Business Saturday

• Elected officials in all 50 states and Washington, D.C. championed Small Business Saturday - including President Obama and many senior government officials.
• The U.S. Senate unanimously passed a Small Business Saturday Resolution, which supports efforts to encourage consumers to shop locally and increase awareness of the value of locally owned small businesses. The resolution received bi-partisan support from more than 40 co-sponsors.
• More than 350 small business organizations supported the nationwide initiative.
• More than 3.2 million Facebook users “liked” the Small Business Saturday Facebook page.
• The inaugural Small Business Saturday Insights Survey, released earlier this month by the NFIB and American Express, indicated that 46 percent of independent merchants familiar with the day planned to incorporate Small Business Saturday into their holiday strategy.

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About the Survey
The second installment of the Small Business Saturday Consumer Insights Survey was conducted among a nationally representative sample of 1000 males and females 18 years of age or older.  The sample was collected using an email invitation and an online survey. The study was conducted anonymously by Redshift Research between November 24th and November 25th, 2012. The survey has a margin of error of +/- 3.1%, at the 95% level of confidence. 

About Small Business Saturday
November 24th marks the third annual Small Business Saturday, a day to support the local businesses that create jobs, boost the economy and preserve neighborhoods around the country. Small Business Saturday (SBS) was created in 2010 in response to small business owners' most pressing need: more customers.

About NFIB
NFIB is the nation’s leading small business association, with offices in Washington, D.C., and all 50 states. Founded in 1943 as a nonprofit, nonpartisan organization, NFIB gives small and independent business owners a voice in shaping the public policy issues that affect their business. NFIB’s powerful network of grassroots activists sends their views directly to state and federal lawmakers through our unique member-only ballot, thus playing a critical role in supporting America’s free enterprise system. NFIB’s mission is to promote and protect the right of our members to own, operate and grow their businesses. More information about NFIB is available online at www.NFIB.com/newsroom.