Sandwiched between Black Friday and Cyber Monday this year was Small Business Saturday, a promotion cooked up by American Express to encourage holiday shoppers to spend money at small, local businesses. The credit card company offered a $25 credit on customers’ American Express bill if they spent $25 or more at a small business (using their AmEx card, of course).
So how did the post-Thanksgiving holiday shopping extravaganza fare?
Black Friday weekend saw more shoppers – approximately 212 million — spending more money – an average of $365.34 per shopper – than last year, according to the National Retail Foundation. The group said total sales hit approximately $45 billion. Cyber Monday sales topped $1 billion for the first time this year, according to reports.
Results from Small Business Saturday were harder to pin down, though American Express declared it a success. Business News Daily took a look at the numbers supplied by American Express:
- 27 percent of small retailers that accept American Express cards saw an increase in sales this year compared with the Saturday after Thanksgiving in 2009.
- 130 small-business advocate groups, public and private organizations and elected officials who declared Nov. 27 as Small Business Saturday.
- 10,000 businesses received free Facebook advertising to promote their products and services before Small Business Saturday.
- 100,000 small-business owners downloaded point-of-purchase and promotional materials from the event’s Facebook page.
- 1.2 million people “liked” Small Business Saturday on Facebook.
Some critics said Small Business Saturday was merely a marketing gimmick by American Express to increase their profile and profits from the holiday shopping weekend. Supporters say that anything that gets people to shop at small businesses is a good thing. What’s your take on Small Business Saturday?
This article was submitted by Rohit Arora, co-founder of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to