Retailers Prepare for $16.2B, not-so-little Small Business Saturdayby Teresa Novellino
Across the country, the marketing wheels are spinning at fashion boutiques, knitting shops, and independent bookstores, as they prepare for Small Business Saturday, a shopping event that generated $16 billion in collective revenues last year.
Founded by American Express (NYSE: AXP) in 2010 to encourage people to “shop small” with local independent merchants for the holidays, the event has grown from $11.5 billion worth of business in 2012 to $16.2 billion in 2015, its largest annual increase yet, Amex data shows. It joins similar events like Record Store Day and Independent Bookstore Day, which spotlight small businesses.
According to Amex, 95 million Americans shopped Small Business Saturday last year, as it found a lucrative and familiar groove in between Bla