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

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

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

Business Wire

NEW YORK -- November 26, 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 a total of $5.5 billion with
independent merchants. Pre-holiday surveys estimated that U.S. consumers would
spend $5.3 billion.

Separately, American Express said Cardmember transactions at small business
merchants^1 rose approximately 21 percent compared to last year’s Small
Business Saturday.

“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.”

“Small Business Saturday, in its third year, has become an integral part of
the holiday shopping season and consumers were out in large numbers to support
their favorite small businesses,” said Susan Sobbott, president of American
Express OPEN. “Small Business Saturday celebrated the shops across the country
that make our neighborhoods vibrant and bolster the U.S. economy.”

Support from Every Corner of the Country

  *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 with more than 50 Chambers of Commerce and 60 groups organizing
    events and activities in support of the day.
  *155 corporations, such as FedEx, Twitter, AOL/Patch and Clear Channel,
    banded together to promote shopping at small merchants for Small Business
    Saturday.
  *More than 3.2 million Facebook users “liked” the Small Business Saturday
    Facebook page.
  *More than 213,000 tweets  were sent in support of Small Business Saturday
    in November, many leveraging the hashtags #smallbizsat and #shopsmall.
    This includes consumers spreading the word about the national initiative
    and business owners promoting offers they created specifically for the
    day.
  *40,000 people received $25 Shop Small American Express gift cards courtesy
    of FedEx for use at small merchants on November 24^th.

Small Business Owners Make the Day their Own

  *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.
  *Two-hundred and twenty thousand small merchants placed permanent
    point-of-purchase decals on their storefronts, adding to the 500,000 who
    placed them in 2011.
  *Online tools and materials were leveraged more than 100,000 times by small
    business owners to help get the word out about Small Business Saturday.

Small Business Success Stories

  *“A huge bump. A lot of Staten Islanders came into the store today. At
    least 100 percent [increase], so double from what we did last year.” –
    Daniel Schifter of Casale Jewelers on Staten Island, NY (Source: WCBS-TV
    New York 11/25/12)
  *“This Small Business Saturday was probably twice as big as last year's,
    and the store was packed all day.” – Leah Daniels of Hill's Kitchen in
    Washington, DC (Source: USAToday.com 11/25/12)
  *“Looking back on last year's figures I think we more than doubled, yeah it
    was fantastic. It's been phenomenal, it's been fantastic, it's fun. We
    were busy from the moment we opened.” – Stephanie Klein of Stephanie’s in
    Holdrege, NE (Source: NTV – ABC Nebraska 11/26/12)
  *“Sales were the highest they’ve been since the shop’s opening in November
    2011. The crowds downtown were comparable to a First Fridays (the monthly
    Downtown evening shopping event), but more people were buying.” – Margie
    Kuzia of Humble Home in Racine, WI (Source: The Journal Times 11/24/12)
  *“Broadway Paper experienced a 77.6 percent increase in sales from Small
    Business Saturday 2011 to Small Business Saturday 2012. This drastic
    increase is incredible and so wonderful, and largely due to American
    Express' campaign to Shop Small!” – Kate Strzok at Broadway Paper in
    Milwaukee, WI

About the Survey

The second installment of the Small Business Saturday Consumer Insights Survey
was conducted among a nationally representative sample of 800 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 24^th and November 25^th, 2012. The survey
has a margin of error of +/- 3.46%, at the 95% level of confidence.

About Small Business Saturday

November 24th was 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.

^1 Small business merchants” include any independently owned small businesses
that accept American Express Cards in retail and restaurant industry
categories such as general merchandise, apparel and accessories, furniture and
home furnishings, books, music, electronics, eating and drinking
establishments. Large, national chains, franchised business locations and
government agencies are not included in this subset of the overall American
Express merchant base.

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Contact:

M Booth
Matt Hantz, 212-539-3276
matth@mbooth.com
or
NFIB
Cynthia Magnuson-Allen, 202-314-2036
cynthia.magnuson@nfib.org
or
American Express OPEN
Scott Krugman, 212-640-3244
scott.b.krugman@aexp.com
 
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