Although close to 34% of the American population wants to shop on Small Business Saturday, the spending hasn’t seen a huge leap since the pandemic. According to a new CNBC Momentive Small Business Survey, spending on most of the holiday promotional day hasn’t really accentuated the price ceiling of this idea.
Back in 2020, close to 30% of Americans stated that they would definitely patronize a small business on this eventful day. Before the pandemic took place, most of the support for local businesses was higher- even though they were declining at the same time- 44% in 2018, and 39% in 2019.
Small Business Saturday Could Be Completely Changed
Laura Wronski, the senior manager of research science at Momentive, recently stated in an email that while consumers still had their love for Small Business Saturday, the day in itself didn’t have the same hype about it that it had in previous years. In fact, only a few people would say that they are quite excited to go shopping on Saturday, while others would say that they would plan on spending a vast majority of their money on that day. The new survey was processed on the 10th of November through the 12th of November, among a sample size of 2,744 adults.
Over half of the respondents to the survey maintained that they weren’t really that excited to shop on either Black Friday, Small Business Saturday, or Cyber Monday- but the percentage was still below 65% in 2020, yet definitely consistent with the pre-pandemic levels in 2018 and 2019. The eventful Saturday does manage to generate the least excitement, with only 8% of the respondents claiming that they have been looking towards it, and 7% of the American population stating that they had a plan of spending the most on Saturday.
According to American Express, most small business owners believe that the sales of this year would determine if Small Business Saturday was worth the fanfare.