Search Results for “small business saturday” – SmallBusiness.com https://smallbusiness.com Small business information, insight and resources | SmallBusiness.com Sat, 25 Dec 2021 00:28:19 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.2 Holiday Shopping Can Beat Forecast (Despite Inflation and Covid-19) | 2021 https://smallbusiness.com/small-business-saturday/holiday-shopping-can-beat-forecast-despite-inflation-and-new-covid-variant-2021/ Fri, 03 Dec 2021 23:11:32 +0000 https://smallbusiness.com/?p=42280 (December 3, 2021)


The 2021 holiday season appears to be on track to exceed the National Retail Federation’s earlier forecast.

Despite supply chain disruptions, inflation, and challenges like the new COVID-19 omicron variant, the National Retail Federation’s (NRF) chief economist said today that holiday spending can turn out even better than the retail trade association earlier forecasted.

“Now that we’re in December, the holiday shopping season is nearing the finish line. The question is how have factors ranging from economic indicators to the twists of the COVID-19 pandemic affected the season so far, and what role will they play in the weeks that remain? There’s no crystal ball to provide a definitive answer, but the latest data is encouraging and provides useful insights. In fact, the season could turn out even better than we expected. Consumers and retailers have both revised their playbooks and broken with previous traditions. With the momentum we’ve seen so far likely to continue, it seems probable that we will exceed our initial projection.”

Jack Kleinhenz
NRF Chief Economist


Kleinhenz’s remarks came in the December issue of NRF’s Monthly Economic Review.

Highlights:

  • 11.5% | Holiday retail sales during November and December could grow as much as 11.5 percent over the same period in 2020.
  • Between 8.5% and 10.5% | Such spending would exceed NRF’s forecast that holiday sales would be up between 8.5 percent and 10.5 percent.
  • Consumers remain in solid financial shape and do not appear to be stretched. With shopping starting earlier, the Thanksgiving weekend (including Small Business Saturday) now helps to mark off the holiday season rather than serving as the kickoff it once was.
  • 4.1% | Over the past year, disposable personal income has been up 4.1 percent
  • 12% | During the past year, personal spending has increased 12 percent
  • Initial unemployment claims fell to their lowest level since 1969 the weekend before Thanksgiving
  • 546,000 jobs were added to payrolls in October followed by 210,000 in November
  • 4.2% | The November unemployment rate fell to a new pandemic low of 4.2 percent.
  • Initial unemployment claims fell to their lowest level since 1969 the weekend before Thanksgiving
  • 546,000 jobs were added to payrolls in October followed by 210,000 in November
  • 4.2% | The November unemployment rate fell to a new pandemic low of 4.2 percent.
  • 4.2 million jobs | Continued strong growth rates will reduce the 4.2 million jobs needed to return employment to pre-pandemic levels

However, there are “potential economic wildcards”

NRF economist Kleinhenz called the COVID-19 omicron variant “the latest wildcard raising uncertainty around the economic outlook,” but said it is too early to predict what impact it will have on the economy. The University of Michigan Index of Consumer Sentiment declined to 67.4 in November, its lowest level in a decade, but Kleinhenz said spending data is a more relevant measure of consumer behavior.

Source

NRR Monthly Economic Review: December 2021

GettyImages

]]> NRF: 51 Million Shoppers Participated in Small Business Saturday | 2021 https://smallbusiness.com/small-business-saturday/small-business-saturday-2021/ Tue, 30 Nov 2021 18:43:45 +0000 https://smallbusiness.com/?p=42262 Nearly 180 million Americans shopped during the five-day holiday shopping period from Thanksgiving Day through Black Friday, Small Business Saturday, and Cyber Monday, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.

51 million shoppers participated in Small Business Saturday.

The importance of supporting local businesses remained top of mind for many consumers, with 71% indicating they were shopping specifically on Small Business Saturday. Black Friday surpassed Cyber Monday in terms of total online shoppers, with 88 million shopping online the Friday after Thanksgiving compared with 77 million on Monday.

“Retailers have adapted and enticed customers with a number of incentives throughout November. The Thanksgiving holiday weekend remains a significant time for friends and families to check specific holiday items off their lists. Over the last few years, consumers have shifted their holiday shopping plans to start earlier in the season.”

NRF President and CEO Matthew Shay

179.8 million | Number of unique shoppers who made in-store and online purchases during the holiday weekend. The figure compares with 186.4 million shoppers in 2020 and is in line with the average of the last four years.
49% | Percentage of shoppers surveyed who said they took advantage of early holiday sales or promotions before Thanksgiving this year. 
82% | Percentage of shoppers surveyed who felt the deals were the same or better than last Thanksgiving weekend.

The number of people who shopped in stores increased this year. 

Retailers saw an increase in foot traffic, with approximately 104.9 million shoppers visiting stores, up from 92.3 million in 2020.

The overall number of online shoppers decreased to a total of 127.8 million from 145.4 million last year. 

Black Friday remained the most popular day for in-store shopping, with 66.5 million shoppers.

$301.27 | Holiday-related purchases such as gifts, décor, apparel, and toys. (This is down slightly from $311.75 in 2020.

Top gift purchases over the weekend (bought by percent of those surveyed)

51% | Clothing and accessories
32% | Toys
28% | Gift cards/certificates
27% | Books, music, movies, video games 
24% | Electronics

With a longer holiday shopping season, consumers have welcomed the flexibility it offers. 

84% | Percentage of holiday shoppers surveyed who said they have already started shopping
52% | Percentage of holiday shoppers surveyed who said they have already completed their holiday shopping

SOURCE | NRF defines the holiday season as of November 1 through December 31 and has forecast that sales will grow between 8.5 percent and 10.5 percent over 2020 to between $843.4 billion and $859 billion. According to NRF’s annual survey released in October, consumers plan to spend $997.73 on gifts, holiday items, and other non-gift purchases for themselves and their families this year. The survey of 5,759 adult consumers was conducted November 24-29 and has a margin of error of plus or minus 1.3 percentage points.

Read more about the holiday season at the NRF Winter Holiday Headquarters.

]]> Small Business Saturday; Small Business Everyday | 2021 https://smallbusiness.com/small-business-saturday/small-business-saturday-small-business-everyday-2021/ Wed, 24 Nov 2021 22:14:27 +0000 https://smallbusiness.com/?p=42246

The 12th annual Small Business Saturday takes place this year on November 27, 2021 (the Saturday after Thanksgiving). American Express created the event as a counterpart to promotions supporting big-box retailers (Black Friday) and  Cyber Monday which encourage shoppers to buy products through big box retail stores and mega-online e-commerce channels. While local holiday events that promote holiday shopping have been around for decades, Small Business Saturday helped turn the day into a national marketing event that reminds consumers why it is important to support small and local businesses, products, and services.

According to the U.S Chamber of Commerce, shoppers have also been eager to jump on board and support their local small businesses. Last year, the U.S. Small Business Administration reported Americans spent nearly $20 billion on Small Business Saturday, and in the years before that, consumers spent a cumulative $100 billion-plus related to the event.

Small business owners and their customers understand the importance of supporting small and local businesses

56% | Percentage of small business owners who agree that customer support is more critical than ever. (1)

78% | Percentage of owners who say holiday sales will impact their ability to keep their doors open in 2022. (1)

“The past year has presented unique challenges for small business owners across the country. It has never been more vital to support the small businesses that make our communities unique and contribute to the culture of our neighborhoods. Small Business Saturday provides us with an opportunity to connect with our local community and remind them to get out and shop small all holiday season.”

Nicole and Michael Nicholas owners of Aunts et Uncles in Brooklyn, NY

Advice from shoppers on ways small businesses can encourage seasonal shopping

A recent survey of holiday shoppers commissioned by Union Bank revealed the hurdles consumers say they are facing this holiday shopping season. (2)

When asked what would make the consumers more likely to shop at a small business this year, here are some of the responses.

64% | Offer holiday sales
59% | Offer unique, exclusive gifts
49% | Provide free local delivery’
48% | Offer online ordering
47% | Offer price breaks
46% | Provide a cheery, holiday experience

“Purchasing locally handcrafted items or the gift of an experience, such as a concert, can be more personal and more fun,” Deborah Small, professor of marketing and psychology at Wharton Business School recently told ConsumerReports.org. “By choosing something handcrafted or locally grown, or making a purchase that helps support a neighborhood business, your gift will be more personal and authentic,” she said.

See SmallBusiness.com posts throughout the years.


”Photos:
Nicole Nicholas, Aunts et Uncles, Brooklyn, NY via American Express
Gettyimages.com

Sources

(1) The American Express Shop Small Impact Study consisted of two studies conducted by Teneo on behalf of American Express. The consumer survey was an anonymous online survey conducted from October 13-18, 2021 among a sample of 1,013 adults 18 years of age and older. The American Express Shop Small Impact Study consisted of two studies conducted by Teneo on behalf of American Express. The consumer survey was an anonymous online survey conducted from October 13-18, 2021 among a sample of 1,013 adults 18 years of age and older. Consumer data is weighted by five variables: age, sex, geographic region, race and education to ensure reliable and accurate representation of the total U.S. population, 18 years of age and older based on U.S. Census data. The small business owner survey was conducted online among a sample of 523 small business owners/managers in the U.S. from October 12-19, 2021. Respondent companies must conduct sales in a physical location in one of the following industries: arts/entertainment/recreation, retail trade, restaurant/bar/coffee shop/hotel/hospitality, or personal services.

(2) Union Bank Small Business Holiday Spending 2021 Survey: Research was gathered through an online survey commissioned by Union Bank and conducted by global independent research firm Edelman DxI. The survey was completed by 1,000 U.S. consumers (age 18+) and 200 U.S. small business owners, sampled to be nationally representative. Data was collected between Oct. 5 and Oct. 13, 2021. The margin of error is +/- 2 percentage points.

]]> Negotiation Over Renewed PPP With Passage of Small Business Loan Program | 2020 https://smallbusiness.com/covid-19/small-business-loan-program-ppp-is-close-to-collapsing-friday-12-11-20/ Fri, 11 Dec 2020 19:25:02 +0000 https://smallbusiness.com/?p=41533 NOTE | This article was complete when President Trump agreed to sign the legislation.

(Breaking story. Most recent version: Friday, December 12, 2020, 4:00 p.m., Eastern. For earlier coverage, see below.)

The Senate on Friday approved a one-week stopgap bill to fund the government, buying additional time for negotiators to reach an agreement on both a catchall government spending package and a coronavirus aid plan to address the economic toll of the pandemic. (President Trump has to sign the bill or funding runs out at midnight, and the government would shut down.)

Democratic leaders have said the starting point for talks should be a $908 billion bipartisan compromise being drafted by a group of moderates.

It would include $288 billion for the Paycheck Protection Program that extends loans to small businesses, and $300-a-week supplemental federal jobless payments until the spring. The proposal, for now, does not include direct payments from stimulus checks.

(Breaking story. Most recent version: Friday, December 11, 2020)

The $900-billion COVID-19 relief package from a bipartisan group of lawmakers has all but collapsed after Senate Majority Leader Mitch McConnell said GOP senators wi.. not support $160 billion in state and local funds as part of a potential tradeoff in the deal.

The proposal provides sweeping new funds for small businesses (via a renewed PPP loan program), healthcare providers, schools, and families suffering from the coronavirus crisis and the economic shutdowns.

According to the Associated Press, McConnell’s staff says the Senator sees no path to agreement on a key aspect of the existing proposal:

“A slimmed-down version of the liability shield that he wants for companies and organizations facing potential COVID-19 lawsuits in exchange for the state and local funds that Democrats want.“

Government Shutdown

The COVID-19 relief plan now threatens another pressing business: a must-pass government funding bill. If it doesn’t clear Congress, the lack of government funding would trigger a federal government shutdown Saturday. (The Senate approved a one-week delay.)

Mixed Messages

Trump’s top negotiator on COVID-19 financial aid, Treasury Secretary Steven T. Mnuchin, reported progress on Thursday before the package from the bipartisan senators group fell apart. “I think we’re making a lot of progress,” Mnuchin said.

GettyImages

]]> Holiday Shoppers Take Advantage of Early, Online Holiday Weekend Deals https://smallbusiness.com/ecommerce/holiday-shoppers-take-advantage-of-early-online-holiday-weekend-deals/ Wed, 02 Dec 2020 17:50:33 +0000 https://smallbusiness.com/?p=41509 An estimated 186.4 million consumers took advantage of the Thanksgiving holiday weekend and shopped both in-store and online this year, according to an annual survey released on December 1 by the National Retail Federation and Prosper Insights & Analytics.

While the overall number of shoppers from Thanksgiving through Cyber Monday dropped slightly from 189.6 million in an unusually robust 2019, this figure is still significantly higher than the 165.8 million shoppers in 2018.

  • Between Black Friday through Small Business Saturday saw tremendous growth in online activity.
  • For the first time, the number of online Black Friday shoppers passed the 100 million mark, up 8 percent over last year.
  • The number of online Saturday shoppers, typically associated with small business shoppers grew even more, up 17 percent compared with last year.
  • Online-only shoppers increased by 44 percent for the entire weekend, for a total of 95.7 million.

38% | Percenage of shoppers who aid they checked off holiday purchases in the week leading up to Thanksgiving.

52% | Percentage of holiday shoppers who said they took advantage of early holiday sales and promotions this year.

53% | Shoppers who say that promotions over the weekend were the same as they had been earlier in the season.

Thanksgiving in-store shopping was down given both the state of the pandemic as well as the number of retailers who opted to close on Thanksgiving Day, according to the NRF.

With consumer traffic moving to online channels, the number of in-store shoppers on Thanksgiving Day dropped by 55 percent from last year.

Black Friday dropped by 37%

An earlier NRF survey found that 70 percent of holiday shoppers say they feel safe shopping in stores this holiday season given the precautions retailers have taken for COVID-19.

Over the five-day period, shoppers spent an average of $311.75 on holiday-related purchases such as gifts or decorations, down from last year’s total of $361.90 but comparable to 2018’s $313.29.

Of that amount, nearly three-quarters ($224.48) was spent directly on gifts.

51% | Shoppers said they were more interested in holiday decorations and seasonal items.

77% | Percentage of shoppers who indicated they were more interested in supporting small businesses this year.

“The growth in online activity this year was significant, particularly for Black Friday and Saturday shoppers,” Prosper Executive Vice President of Strategy Phil Rist said.“With the start to the holiday shopping season continuing to move up even earlier, consumers will further utilize these channels.”

Top gift purchases over the weekend included

52% | Clothing
32% | Toys
32% | Books, music, movies, video games
29% | Gift cards, certificates
27% | Electronics

Shopping destinations

39% | Grocery stores
33% | Clothing stores
31% | Electronics stores

]]> What is Small Business Saturday? | 2020 https://smallbusiness.com/small-business-saturday/small-business-saturday-history/ Fri, 27 Nov 2020 17:44:24 +0000 http://smallbusiness.com/?p=24339

It’s time again for Small Business Saturday. 

The event began eleven years ago as a promotion by American Express. Soon it was embraced by local, state, and national small businesses, organizations, and governmental agencies. (See map.)

A brief history of Small Business Saturday

Here are some of the ways that Small Business Saturday has evolved over the last decade.

2010 | Small Business Saturday was created and sponsored by American Express, who registered the URL SmallBusinessSaturday.com and registered the trademark for the term Small Business Saturday. The company also created a Facebook page supporting the event and also promoted the event with national television advertising and a broad array of public relations activities. 

As part of the 2010 promotion, the first 10,000 small business owners who signed up to participate received $100 worth of free Facebook advertising, and the first 200,000 American Express cardholders who pledged to use their credit cards on Small Business Saturday to support small businesses received a $25 credit.

2011 | Beginning in 2011, American Express created the  Small Business Saturday Coalition as a means for small business development groups, along with federal, state and location governments and associations, could participate collaboratively.

2013 |In 2013, American Express began to use another trademarked advertising tagline, “Shop Small,” in its Small Business Saturday promotions. The tagline enables the company to extend the marketing efforts surrounding Small Business Saturday into other parts of the year.

2014 | A new promotional aspect of 2014 included an interactive map for participating businesses that accept American Express cards. 

2015 | In 2015, American Express produced and ran TV and online commercials promoting Small Business Saturday featuring the Muppets.

2018 |An estimated 104 million American consumers supported local retailers and restaurants, spending $17.8 billion on Small Business Saturday 2018, according to American Express and the National Federation of Independent Business (NFIB)

2019 | Small Business Saturday celebrates its tenth anniversary with a new spokesperson, Lin-Manuel Miranda, the creator of the Broadway musical Hamilton and Karlie Kloss, model and entrepreneur.

2020 | While American Express has shifted its small business messaging to a year-round emphasis using its “Shop Small” message, the need to support small businesses has become (especially during the pandemic) a rallying cry to shoppers and sellers to Shop Small — on Small Business Saturday. 

Look for small businesses online, as well.

 

]]> State-by-State Listing of COVID-19 Resources https://smallbusiness.com/covid-19/state-by-state-listing-of-covid-19-resources/ Tue, 16 Jun 2020 15:50:17 +0000 https://smallbusiness.com/?p=41081

Each state has its own unique listing of COVID-19 rules, policies, resources, and state-by-state news and information. Note: This list is not definitive, official, or endorsed by SmallBusiness.com. (Last updated on June 16, 2020.)

Alabama 

Alaska 

Arizona 

Arkansas 

California 

Colorado 

Connecticut 

Delaware 

Florida 

Georgia 

Hawaii 

Idaho 

Illinois 

Indiana 

Iowa 

Kansas 

Kentucky 

Louisiana 

Maine 

Maryland 

Massachusetts 

Michigan 

Minnesota 

Mississippi 

Missouri 

Montana 

Nebraska 

Nevada 

New Hampshire 

New Jersey 

New Mexico 

New York

North Carolina 

North Dakota 

Ohio 

Oklahoma 

  • Oklahoma State Department of Health – sign up for e-mail updates at: 
    https://coronavirus.health.ok.gov/ 
  • COVID-19 Call Center operating 24/7:  Telephone Numner:877-215-8336 or dial 2-1-1 
  • Accessibility Questions: If you need alternate formats of the website to meet your accessibility needs, or you have difficulty viewing any content on the OSDH Web site with assistive technology, please send your request to webmaster@health.ok.gov. 

Oregon 

Pennsylvania 

Puerto Rico 

Rhode Island 

South Carolina 

South Dakota 

Tennessee 

Texas 

US Virgin Islands 

Utah 

Vermont

Virginia 

Washington 

West Virginia 

Wisconsin 

Wyoming

Note: This list is not definitive, official, or endorsed by SmallBusiness.com.

These lists can change as information is added or removed. (Last updated June 16, 2020)

]]> Small Business Covid-19 Updates (3.23.2020) https://smallbusiness.com/covid-19/small-business-covid-coverage-2-23-22/ Mon, 23 Mar 2020 18:27:49 +0000 https://smallbusiness.com/?p=40775

During the Covid-19 pandemic, SmallBusiness.com will be linking daily to articles related to its impact on small business owners and employees. Check back for updates.

Five steps to save small business during the pandemic

Five steps can help save small businesses during this pandemic-induced recession…

  1. Stop Commercial Evictions
  2. Defer Property Taxes
  3. Defer Commercial Rent Payments
  4. Defer Mortgage Payments
  5. Guarantee Jobs and Healthcare for Workers

Continue reading: Crain’s New York Business: “Five steps to save small business during the pandemic”

Coronavirus stimulus relief plea from self-employed to Washington: ‘We need help now’

“The self-employed – independent contractors, gig workers, temporary and part-time workers – number 57 million in the U.S., representing more than a third of the working population and driving $1 trillion in income, but have none of the benefits and protections that employees or even other small businesses do…”

Continue reading: USAToday.com “Coronavirus stimulus relief plea from self-employed to Washington: ‘We need help now'”

Amazon’s Bezos tells workers coronavirus will ‘get worse’

Amazon.com’s Chief Executive Officer Jeff Bezos warned his company’s 800,000 employees that the coronavirus outbreak will likely “get worse before it gets better,” according to an open letter shared Saturday on his Instagram account.

The letter follows cries from U.S. lawmakers and his own employees that the world’s largest online retailer isn’t doing enough to protect its warehouse workers and delivery drivers who endanger themselves delivering products to Amazon customers looking to avoid stores.

“This isn’t business as usual, and it’s a time of great stress and uncertainty,” Bezos wrote. “It’s also a moment in time when the work we’re doing is its most critical.”

Continue reading: Bloomberg News, Instagram

]]> The 150-Year History of the Term ‘Small Business’ https://smallbusiness.com/history-etcetera/history-of-the-term-small-business/ Fri, 27 Dec 2019 08:00:34 +0000 http://smallbusiness.com/?p=7898

(Update: May 12, 2019)

In doing some fact-checking about presidents who started and ran small businesses, I was reminded how the term “small business” is not useful as a search term when looking for primary source material before the 20th century. To demonstrate what I mean, the trendline chart above tracks the appearance of the term “small business” in books published between 1880 and 2000.

Using Google’s Ngram Viewer, a tool that pulls such information from the Google Books‘ database of digitized books and publications, it’s easy to see that the phrase “small business” didn’t come into general use until the latter part of the 19th century. Usage of the term grew rapidly in two distinct time periods: (1) From 1920–1940 and (2) From 1970 until the present.

While neither a linguist nor historian, I’m familiar with (and even professionally attached to) enough American history and the term “small business” to suggest the journey of the term’s popularity.

1. Before the industrial revolution, all business was small business.

The American Civil War and the innovations of the second half of the 19th century ushered in the beginnings of a form of market-driven big business we’d recognize today. (Big business existed earlier, but forced labor and ownership by kings is not exactly the business paradigm to which I’m referring.) The notion of there being such a thing as a “small” business wasn’t necessary until there emerged the notion of a “big” business.

2. The cultural changes of the Roaring ’20s and Great Depression.

The notion of business as “big” and “small” fits into cultural and social shifts of the 1920s and 1930s, a period that saw a pendulum swing from economic boom to bust back to boom. The emergence of the middle class, organized labor and the golden age of Main Street commerce raised the country’s collective awareness that businesses came in two sizes, big and small. While the Great Depression wasn’t good for big business, it did wonders for big government.

3. The Post-war “Pejorative Era” of the term “Small Business.”

After World War II (won in America’s big and small factories, as well as on the battlefield, sky and sea), several social and cultural trends, economic events and the emergence of TV as the dominant medium combined to give many Americans a near religious-like belief in all things big: big government, big business, big media, even big hair. Is it a coincidence that this period of America’s emergence as the world’s dominant economic power would see a 20-year flatline in the growth of the usage of the term “small business”?

While it may be merely a coincidence of history, here’s some anecdotal (and today, quite ironic) evidence of the temporary dip in popularity of the term “small business”: In 1943, C. Wilson Harder created the National Federation of Small Business. In 1949, the organization changed its name to the National Federation of Independent Business. In hindsight, the name change seems impossible to imagine–unless understood in the context of that era’s connotation of “small business.” Today, the organization primarily uses its initials, NFIB, as its brand (in part, to avoid having to explain what “independent” means) and describes itself as “America’s leading small-business advocacy association.”

4. The era of the rugged individual who drives the engine of America’s economic growth.

Today, the term “small business” captures the essence of an American dream that evokes personal independence, risk and reward, and doing well by doing good. Supported by billions of dollars in advertising in which giant corporations have used the term “small business” in a celebratory way (the pinnacle of which is American Express’ Small Business Saturday promotion), it is no surprise that a Pew Research study shows Americans trust small businesses as much as they love Mom and apple pie, while they trust Congress just a little less than they trust corporations, which is not at all.

Disclosure:

Obviously, I’m biased. The name of this site is SmallBusiness.com.

Based on the history displayed in the chart above and my personal preference, I like the term “small business” and celebrate what it stands for every way I can. But I am in no way anti-big business. Hammock Inc. (the one that operates SmallBusiness.com, along with many other things)  works extensively with clients who are very large corporations, so I’m clearly not anti-big.

Even if the name of this site wasn’t SmallBusiness.com, I’d still encourage marketers who want to reach an audience of owners and managers of companies that aren’t “big” (pick any number of employees less than 500) to be aware of the upward trending history of the term “small business.”

Realize you’re sailing into gale-force winds if you forget that terms like “middle-sized business” or “micro-business” (the acronym that only marketers understand — SMB — are ok for inside-the-company strategy sessions, but they are terms that have little or no awareness among the audience you are trying to reach.

The term “small business” isn’t broken. Try to rebrand it and you’re up against 150 years of history.

(The featured graphic includes a photo by Trey Ratcliff via Flickr)

]]> Nearly 148 Million Americans Plan to Shop This “Super Saturday” | 2019 https://smallbusiness.com/retail/nearly-148-million-americans-plan-to-shop-this-super-saturday-2019/ Wed, 18 Dec 2019 20:07:14 +0000 https://smallbusiness.com/?p=40554

Move over Black Friday! Step aside Cyber Monday! According to the National Retail Federation (NRF), “Super Saturday (the Saturday before Christmas) is the biggest retail shopping day of the year. And for small business retailers, it’s a key day to clear the shelves — a shopping day even bigger than the five days of Thanksgiving.

“While many people started holiday shopping early, those who waited until Thanksgiving weekend are feeling the pressure due to the limited number of days this year between Thanksgiving and Christmas,” NRF President and CEO Matthew Shay said. “But there is still time to catch up. The last Saturday before Christmas has become the biggest shopping day of the year, and we expect an impressive turnout by procrastinators and those who just want to take advantage of really good deals.”

According to a survey by the NRF and Prosper Insights & Analytics, this Super Saturday (December 21, 2019), an estimated 147.8 million U.S. shoppers are expected to participate, up from 134.3 million last year.

Retail shoppers since Black Friday

86% | Percentage of holiday consumers who had started shopping since mid-December
52% | Percentage of holiday consumers who have finished their purchases for the season

In 2013, the last time there were only 26 days between Thanksgiving and Christmas, consumers had completed 50 percent of their purchases at the same point.

“Most of us are guilty of having that one last gift we need to buy,” Prosper executive vice president of strategy Phil Rist said. “Men and younger consumers continue to be the biggest procrastinators and are expected to turn out in force on Super Saturday.”

Percentage of shoppers who have already purchased items from these gift categories (more than one category could be chosen

49% | Clothing
31% | Toys
28% |Gift cards
27% | Books and other media
24% | Electronics
25% | Gifts of experience (concerts, sporting events)

Shopping does not end with Christmas

68% | Percentage of holiday consumers who say they will likely shop the week after Christmas
49% | Percentage of post-holiday shoppers will take part in sales and promotions
27% | Percentage of post-holiday shoppers will use gift cards
84% | Percentage of consumers ages 18-24 who are most likely to shop the week after Christmas.

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