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US Consumers Report an Estimated $17 Billion Spending at Small Businesses on 14th Annual Small Business Saturday This Year

American Express

According to the American Express 2023 Saturday Consumer Insights Survey1, the total reported projected spending of U.S. consumers who shopped at independent retailers and restaurants on Small Business Saturday, which took place on November 25 this year, reached an estimated $17 billion.

Since it launched in 2010, Small Business Saturday has brought communities together by connecting small business owners with local customers to kick off the holiday season when these businesses needed the foot traffic.
Now, 13 years later, total reported spend at small businesses during the annual Small Business Saturday in the U.S. has reached an estimated $201 billion2 since the day was created in 2010. Small Business Saturday in the U.K. will begin on December 2. This is part of the progress we have made towards our commitment to help people and businesses build financial resilience – including our goal to reach $100 billion in spending by consumers at small, independently owned retailers or restaurants on Small Business Saturday and during other Shop Small campaigns from 2021 through 20253.
The 2022 Small Business Economic Impact Study4 showed that if every Gen Z and Millennial shopper spent $10 at a small business on Small Business Saturday, it would support $2 billion in local economic activity throughout the U.S. The study also found that $0.68 of every dollar spent at a small business in the U.S. stays in the local community and that every dollar spent at small businesses creates an additional $0.48 in local business activity as a result of employees and local businesses purchasing local goods and services.
“It’s inspiring to see the enormous enthusiasm communities show as they get out to shop or dine at small businesses. Small Business Saturday truly brings people together, creating wonderful connections and driving spend at local businesses. For American Express, it’s a testament to why we continue to invest in and celebrate the day,” said Elizabeth Rutledge, Chief Marketing Officer at American Express.
The American Express 2023 Saturday Consumer Insights Survey1 reported that 59% of U.S. consumers aware of Small Business Saturday shopped or ate at a small, independently owned retailer or restaurant on Small Business Saturday this year. Among those small business shoppers, the survey highlighted that:

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