5 Ways to Make the Most of Small Business Saturday 2022

With more consumers wanting to support small local businesses this holiday season, Small Business Saturday is a great opportunity you should take advantage of.
Photo of a small business owner handing a customer a gift-wrapped item they've purchased on Small Business Saturday.

Small Business Saturday raked in a record $23 billion in sales in 2021, according to American Express. 8 People want to support small businesses now more than ever. In fact, 46% of U.S. shoppers plan to participate in Small Business Saturday, according to 2022 research by Groupon.

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Source: Groupon’s 2022 Holiday Shopping Forecast

Here are five ways you can make the most out of Small Business Saturday, 2022:

  1. Create a Promotion
  2. Take Advantage of Free Resources
  3. Manage Your Inventory
  4. Be Online, Too
  5. Create a Sense of Community

1. Create a Promotion

Deal or no deal? That is a question small-business owners ponder for Small Business Saturday. Coming off the heels of Black Friday and right before Cyber Monday, shoppers may be in the mood to find deals. 

However, many people use Small Business Saturday to support local businesses without the expectations of deep discounts like big retailers are able to afford. People know small businesses have fewer resources, which is precisely why they seek them out for shopping. 9 

In fact, data shows that people are willing to spend a little more with small businesses in exchange for quality.https://redeggmarketing.com/local-business-consumer-sentiment-study/ And 97% of shoppers in the U.S. say quality is the most important factor when shopping this year, according to Groupon research.

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Source: Groupon’s 2022 Holiday Shopping Forecast

If you do decide to promote a deal, here are some ideas:

  • If you’re already taking part in Black Friday and Cyber Monday, you can use some variation of those offers for Small Business Saturday. 
  • Assemble themed gift baskets people can buy for their loved ones.
  • If you’re worried about too many deals eating into profit, you can put a limitation on a deal, such as the “first X amount of people in the door” get some sort of promotion.
  • Make the promotions themed to the day – about community. You could leverage the upcoming GivingTuesday (11/29/22) and donate X percent of profits from Small Business Saturday to a local non-profit the following Tuesday.

For more ideas, check out 10 types of sales promotions to help you win more customers

2. Take Advantage of Free Resources

As the company that launched Small Business Saturday in 2010, American Express offers free resources for small businesses taking part in the day’s event. 

The Shop Small resource hub10 allows small businesses to:

  • Access a studio with templates for social media posts, posters and more resources for the day. 
  • Get listed on a map and be recommended to AmEx card members, so potential customers can find you.
  • Find discounts on services for small businesses, like QuickBooks, HubSpot and more.

3. Manage Your Inventory

Many small businesses learned valuable lessons during the height of the pandemic about supply chain issues. The good news is that supply chain problems, while still evident, are less severe than they once were. 11 

Ensure you understand your most popular items or services based on historical data. Balance that with revenue and profit margins and you’ll begin to see which inventory you need to stock up on.

For more help on how to manage inventory, see:

4. Be Online, Too

According to 2022 research by Intuit, 70% of consumers support local businesses by shopping online only, or a mix of online and in-store. 12 Millennials and Gen X’ers are most likely to support local businesses by only shopping online (45 percent).

While in-store promotions are a no-brainer, ramp up your web presence ahead of Small Business Saturday, too. That means making sure your website clearly promotes the day’s event, and is primed for making sales.

Sixty-one percent of small businesses in growth mode are now embracing ecommerce, too according to Salesforce. 13 Only 23% started adopting it during the pandemic. 

Consider also how you can get your products and services in front of a wider audience. Social media like Instagram, Facebook ads, Amazon and Groupon are all ways that small businesses can get their offerings in front of holiday shoppers for Small Business Saturday.    

Use these platforms to drive traffic to your website or to facilitate purchases right in the marketplace.

5. Create a Sense of Community

Small Business Saturday is all about community. Take advantage of this fact and work it into the day’s events:

  • Use the power of social media to get people involved. Encourage customers to snap pictures in-store, post to social use hashtags and by doing so, enter a giveaway for a chance to win a gift. 
  • Engage the local community. Many communities host “main street” events all over the U.S. for Small Business Saturday. 14 Find out if your community has something similar.
  • Partner with like-minded businesses. Are you a restaurant down the street from a wine bar? Maybe a nail salon next to a massage therapist? Think about how you can partner with complementary businesses in your area and come up with Small Business Saturday offerings or events.

Don’t let this business opportunity pass you by, get ready for this year’s retail event with these tips, and learn how Groupon works to see if it’s a fit for your Small Business Saturday promotions.

Sources:

  1. https://about.americanexpress.com/newsroom/press-releases/news-details/2021/American-Express-12th-Annual-Small-Business-Saturday-Reaches-an-All-Time-High-with-an-Estimated-23.3-Billion-in-U.S.-Consumer-Reported-Spending-11-28-2021/default.aspx
  2. https://martechseries.com/sales-marketing/marketing-automation/new-data-reveals-amid-high-inflation-consumers-want-to-support-small-businesses/l
  3. https://www.americanexpress.com/us/merchant/shop-small.html#toolkit
  4. https://www.bloomberg.com/news/articles/2022-07-17/when-will-supply-chains-return-to-normal#:~:text=According%20to%20the%20central%20bank%27s,to%20be%20fading%20in%20severity.
  5. https://mint.intuit.com/blog/money-etiquette/buying-local-statistics-survey/
  6. https://www.salesforce.com/content/dam/web/en_us/www/documents/reports/smb/fifth-edition-small-medium-business-trends-report-2021.pdf
  7. https://www.mainstreet.org/blogs/national-main-street-center/2021/11/18/tips-and-tricks-to-help-make-your-small-business-s
  8. https://about.americanexpress.com/newsroom/press-releases/news-details/2021/American-Express-12th-Annual-Small-Business-Saturday-Reaches-an-All-Time-High-with-an-Estimated-23.3-Billion-in-U.S.-Consumer-Reported-Spending-11-28-2021/default.aspx
  9. https://martechseries.com/sales-marketing/marketing-automation/new-data-reveals-amid-high-inflation-consumers-want-to-support-small-businesses/l
  10. https://www.americanexpress.com/us/merchant/shop-small.html#toolkit
  11. https://www.bloomberg.com/news/articles/2022-07-17/when-will-supply-chains-return-to-normal#:~:text=According%20to%20the%20central%20bank%27s,to%20be%20fading%20in%20severity.
  12. https://mint.intuit.com/blog/money-etiquette/buying-local-statistics-survey/
  13. https://www.salesforce.com/content/dam/web/en_us/www/documents/reports/smb/fifth-edition-small-medium-business-trends-report-2021.pdf
  14. https://www.mainstreet.org/blogs/national-main-street-center/2021/11/18/tips-and-tricks-to-help-make-your-small-business-s

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