Dec. 11, 2012
A recent follow-up survey to the Small Business Saturday Consumer Insights Survey released by the National Federation of Independent Business (NFIB) and American Express shows that consumers came out and spent $5.5 billion at small independent retailers and restaurants — above the $5.3 billion estimate.
According to the NFIB survey, consumer awareness of Small Business Saturday nearly doubled in the two weeks leading up to the day, going from 34 percent to 67 percent. Nearly half (47 percent) of those who were aware of Small Business Saturday actually went out and shopped that day. American Express confirmed the consumer turnout by reporting that AMEX cardmember transactions at small businesses rose by nearly 21 percent versus 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."
Read more about consumer behavior.