Support your local businesses...Small Business Saturday shows that the big box companies ruled the weekend:
Bottom Line: For the first time since the advent of Small Business Saturday we had a year over year decline this weekend. According to American Express, the inventor of the manufactured event aimed at providing small businesses with a piece of the holiday shopping pie between Black Friday and Cyber Monday, we had fewer shoppers and less money being spent with small businesses. By the numbers...
4 million fewer shoppers shopped small on Saturday than 2016 (108 million vs. 112 in 2016)
$2.1 billion less was spent at small companies on Saturday ($12.9 billion vs $15 billion in 2016)
All of this while overall sales for the entire weekend appear to have been higher by 4%+ year over year. The biggest driver was mobile which delivered a 17-18% increase year over year. So, there's a reminder in this for all of us. First, please remember to patronize local businesses throughout the season and the year. It's in the best interest of your community and local economy. Secondly, small retail businesses need to create more effective mobile and online services. This includes mobile ready websites that are easy to use and taking advantage of platforms like Amazon, as expensive as they may be, as applicable. A 14% sales decline on a weekend that saw a 4%+ sales increase overall is alarming for local businesses and it's not something we or they should ignore.