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According to the American Express Shop Small Impact survey, more than half (56%) of small businesses surveyed agree that this year’s Small Business Saturday is more critical than ever for their business and 78% say holiday sales will impact their ability to keep their doors open in 2022. In fact, consumers shopping small this holiday season have the potential to contribute an estimated $695B into the U.S. small business economy.
American Express (NYSE: AXP) announced today its 12th annual Small Business Saturday, which took place on November 27th. The campaign, part of the company’s goal to drive $100 billion in reported consumer spending at small businesses from 2021 through 2025,1 features a series of initiatives to drive consumers to Shop Small® during the holiday season, including:
- New nationwide marketing campaign and new ways to Shop Small as well as complimentary downloadable resources for merchants to help promote their businesses and rally communities
- Google Shopping collaboration to create shoppable digital murals displaying locally-sourced products across U.S. cities
- Shop Small x ByBlack online marketplace powered by mission-driven retailer Showfields
- Launch of new grant program in partnership with Main Street America to support underrepresented small businesses
“Excitement is building among consumers and small businesses ahead of the holidays, with 63% of small business owners surveyed reporting that they are preparing for a bigger holiday shopping season than last year despite supply chain shortages and other challenges due to the pandemic,” said Elizabeth Rutledge, Chief Marketing Officer at American Express. “We’re rallying consumers to help deliver a strong holiday season for small businesses in communities across the country. It’s so important to support our favorite small businesses not only on Small Business Saturday but throughout the holiday season and all year long.”
With 80% of consumers surveyed stating they are likely to Shop Small this holiday season, small business owners can utilize American Express’ Shop Small Studio for complimentary downloadable posters, social media posts, and more to help them garner attention for their business and rally their communities. From savings on tools to help with marketing, operations, and more, merchants can access a suite of offers curated by American Express on business services, valued at over $8,000, to help them get their business ready for shoppers this holiday season and all year long here. Small business owners can also access new signage and marketing materials for U.S. merchants that let customers know they’re “Always Welcome” here.
“The past year has presented unique challenges for small business owners across the country. It has never been more vital to support the small businesses that make our communities unique and contribute to the culture of our neighborhoods,” said Nicole and Michael Nicholas owners of Aunts et Uncles in Brooklyn, NY. “We are honored to be participating in Small Business Saturday. It provides us with an opportunity to connect with our local community and remind them to get out and Shop Small all holiday season.”
Consumers can find American Express accepting independent retailers near them and across the nation by visiting the Shop Small Map. The company is providing new ways for consumers to support small businesses the entire holiday season through the following new initiatives:
NEW SPIN ON HOLIDAY SHOPPING WITH GOOGLE
Building on the beloved tradition of visiting holiday window displays, Google and American Express are unveiling shoppable digital murals in New York, Los Angeles, Chicago, and Boston to encourage consumers to shop at small businesses this holiday season. The murals – painted by local artists — will feature over 25 products sourced solely from local small businesses. Using Google Lens, consumers will be able to discover and shop the murals from their phones. Mural locations will be unveiled later in November. As part of their partnership, the companies are also committed to helping thousands of small businesses enhance their digital presence this holiday season by offering a complimentary Grow with Google digital workshop for small businesses.
SHOP SMALL x BY BLACK MARKETPLACE
As an extension of ByBlack, a national business directory and certification program for Black-owned businesses expanded in partnership with the U.S. Black Chambers, Inc., American Express is launching the Shop Small x ByBlack online marketplace powered by Show fields. In addition, American Express will open a ByBlack Bazaar pop-up shop featuring ByBlack certified businesses in Los Angeles on December 11th and 12th, prioritizing Black-owned businesses that do not have a physical brick-and-mortar presence to help them connect with customers this holiday season.
BACKING SMALL: INCLUSIVE GRANT PROGRAM
The economic effects of the pandemic have shown the importance of getting small businesses funding when they need it most: 72% of small businesses surveyed say that grant funding would help keep their business open for another year. In response, American Express is launching a $1.65 million Inclusive Backing grant program with nonprofit partner Main Street America. The goal of the program is to provide hundreds of underrepresented small businesses with financial support as well as other resources to address their critical needs and challenges. Small business owners can learn more about how to apply to receive a grant here.
