Celebrate Small Business Saturday, the standout shopping event between Black Friday and Cyber Monday, which was initiated by American Express in 2010 and co-sponsored by the United States Small Business Administration (SBA) since 2011. This event aims to create awareness about the impact shoppers have on “small” businesses year-round, whether they visit physical stores or shop online. According to the American Express 2023 Shop Small Impact Study, 85% of consumers say they’re likely to shop “small” during the holiday season, with an estimated spending of $125 billion at small businesses this year, up 42% from $88 billion in 2022.
With the aim of upholding small businesses, we have curated a list of our favorite small businesses of 2023 for you to explore. From Backlot Coffee’s Flying Squirrel blend to Bonita Fierce’s Coquito Candle, and much more, these small businesses are doing incredible things. Also, consider adding Josu Just Salt’s Korean sea salt to your spice cabinet, exploring Tchotchke’s Bubble Menorah, relying on Polar Bottle’s Breakaway Wave 20-oz. Bike Bottle, and experiencing Isla Beauty’s transformative essence.
Small Business Saturday, celebrated on the Saturday after Thanksgiving each year, puts the spotlight on small businesses during the holiday season. This is crucial as small businesses often struggle to compete with large retailers during this time, especially owing to the heavy advertising and steep discounts offered by the latter. But small businesses are the backbone of the economy and play a significant role in enriching neighborhoods, creating jobs, and contributing to the overall well-being of communities. Defining a small business isn’t always about factual parameters but often about the personal connection and the feeling of investing in an entrepreneur’s dream.
In 2023, small businesses have faced tremendous challenges including supply chain issues, staffing shortages, and inflation. Despite these hurdles, many small businesses are adapting to ensure they can reach more customers long-term, focusing on e-commerce and an omnichannel approach to connect with customers across different shopping platforms and modalities. As consumer sentiment toward small businesses remains largely positive, it’s important to support small businesses beyond just the holiday season and make it a year-round practice.
Every day, new small businesses are opening across the country and need our support. So, let’s make it a point to prioritize shopping small this season and beyond.
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