The Small Business Saturday shopping event is in its eighth year. The event is held every Saturday after Thanksgiving and is meant to promote the smaller, independently-owned bricks and mortar marketplaces and keep them top of mind during the holiday shopping season.
But the news is not good this year. 108 million consumers are estimated to have shopped small that Saturday – but that number is down from the 122 shoppers in 2016. This number is noteworthy because those 122 million shoppers were a sharp increase of 13% from the previous year.
According to CNBC, shoppers spent $12.9 billion the day – that’s far less than the $15.4 billion on in 2016, and a decrease from the $16.2 billion spent in 2015.
These numbers are according to according to data from the 2017 Small Business Saturday Consumer Insights Survey, released last week by the National Federation of Independent Business and American Express.
The survey says that most Americans (70%) are aware of small biz Saturday – but those numbers are not translating into sales. The Black Friday e-commerce numbers are most likely playing a part in this, as more people are are opting for the time-saving comfort of knocking out their Christmas lists online rather than venturing to stores.