Black Friday is symbolic of the start of the holiday shopping season. As many as 130.7 million people are preparing to shop on Black Friday this year, according to data from the National Retail Federation. But nestled in between Black Friday and Cyber Monday is Small Business Saturday— an option for consumers to support their local communities and check off items on their shopping lists.
Originally launched by American Express in 2010, Small Business Saturday enables consumers to shop at one of the 33 million independent businesses that exist in the U.S. In 2011, the Senate passed a resolution officially acknowledging Small Business Saturday.
In 2022, an estimated $17.9 billion was spent by U.S. consumers with small businesses on the last Saturday of November, according to the 2022 Small Business Saturday Consumer Insights Survey.
Small Business Saturday
Saturday, November 25, 2023, is a “Small Business Saturday”. It is a day to celebrate and help small businesses.
Founded by American Express in 2010, Small Business Saturday has become an essential part of small businesses’ most engaged shopping season. It has been officially cosponsored by the Small Business Administration (SBA) since 2011.
“Historically, conveyed projected spending among US consumers who shopped at independent retailers and eateries on Small Business Saturday reached an estimated $17.9 billion according to the 2022 Small Business Saturday Consumer Insights Survey commissioned by American Express,” the SBA said.
Small Business Saturday, which inspires shoppers to visit local retailers, and Cyber Monday, which promotes shopping online. Giving Tuesday has also appeared to spur charitable donations. With many retailers participating, Black Friday has become a highly competitive market where stores desire to outdo each other with better deals.
Black Friday
Black Friday is an informal term for the Friday after Thanksgiving in the United States (US). It has become one of the most active shopping days of the year in the US. This year, it is on November 24.
Where did the “Black Friday” come from? According to Britannica, back in the early 1960s, police officers in Philadelphia started using the phrase “Black Friday” to describe the chaos that heeded when large numbers of suburban tourists came into the city to start their holiday shopping. “Within a few years, the term Black Friday had taken root in Philadelphia. City merchants tried to put a prettier face on the day by calling it “Big Friday”,” the information said.
On this day, retailers propose major discounts to attract customers and encourage early holiday shopping. This is done to promote overall sales. The day also provides an option for retailers to clear out older or excess inventory by offering discounts and making room for new merchandise, NDTV reported.
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Cyber Monday Sales
Cyber Monday is a shopping holiday that drops on the Monday after Thanksgiving. This year, it is on November 27. Cyber Monday earlier habituated to focus heavily on tech and electronics. It, however, now includes discounts on the same type of items one finds on sale for Black Friday, CBS News reported.
Boxing day sales
Boxing Day has nothing to do with the sport. It is certainly celebrated the day after Christmas. It is a holiday that had initially originated as a holiday to give presents to the underprivileged in many parts of the world. It is presently celebrated as a shopping holiday.
Boxing Day is usually celebrated on December 26 but if it falls on a Saturday, the day is moved to Monday to honor the celebrations ongoing after Christmas, Money Control reported. If December 26 is a Sunday, the Boxing Day holiday still takes place on December 28 as December 27, Monday, becomes the substitute holiday for Christmas.
Black Friday vs. Boxing Day: Which is the better bargain?
CBS News conveyed that the deals on Black Friday — especially those limited-time deals that occur early in the morning on Friday — are more useful than the deals one will find on Cyber Monday. It stated that in many cases, Cyber Monday pricing is identical to the Black Friday pricing.
Meanwhile, a report stated that Collier’s consultant and strategic planner, James Smerdon, who’s been conferring on retail trends for 20 years, was saying, “The deals were about the exact on Black Friday as they were on Boxing Day.”
Who’s shopping on Black Friday vs Small Business Saturday?
According to a survey from Bankrate, 61% of holiday shoppers are probably to choose Small Business Saturday for holiday shopping, compared with 56% of consumers saying they’re likely to shop on Black Friday rather.
While many consumers will participate in more than one shopping event this weekend (Black Friday, Small Business Saturday, and Cyber Monday), results from the survey show a growing rage and interest by consumers to support local businesses.
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Small Business Saturday is an extremely appealing attraction for younger crowds. Bankrate found that nearly three-quarters of millennials said they are planning to shop this Saturday. Here is how consumer demographics breakdown for the holiday:
- 72% of millennials said they plan to participate in Small Business Saturday
- 59% of Gen Xers
- 51% of baby boomers
- 69% of Gen Zers
Finding small businesses in your area
About 85% of people surveyed in a May 2023 Google/Ipsos survey stated supporting local and/or small businesses is essential to them.
If you’d like to purchase local or from a small business for your holiday shopping, Google is making it a little more comfortable.
Google has a new small business filter for search and maps, letting shoppers find products offered online by local retailers that are recognized as small businesses, according to a press release. Products will include e-commerce brands, local businesses, and sellers from marketplaces like Etsy and eBay.
