Small Business Saturday, celebrated the Saturday after Thanksgiving, is more than just a shopping day — it’s a vital economic lifeline for local businesses across the United States. Established in 2010, this annual event encourages consumers to support small, independent businesses during the holiday season, fostering economic growth and community connection. This year, Small Business Saturday is on Nov. 30 and will mark the end of National Entrepreneur Month.
The Power of the Local Dollar
According to American Express and Score, for every dollar spent at a small business, approximately 67 cents stays in the local community, and a majority of that (44 cents) goes to the small business owner and the wages and benefits of their employees. This multiplier effect boosts local employment, infrastructure, and other services. In 2023 alone, Small Business Saturday generated $17 billion in sales, demonstrating how targeted consumer engagement can have a monumental impact.
Data-Driven Insights for Small Businesses
To capitalize on this momentum, businesses can use data to fine-tune their strategies:
Social Media Engagement: Studies reveal that 70% of shoppers discover small businesses through social media. Leveraging platforms like Instagram and Facebook for targeted ads and promotions can drive foot traffic. According to Business Dasher, 77% of small businesses rely on social media for critical activities such as driving sales, executing marketing strategies, and managing customer service operations in the United States.
Customer Preferences: Consumer surveys show that product sustainability is a major consideration for consumers. Highlighting sustainability initiatives can attract conscious consumers. As reported by CGS research, 68% of consumers (regardless of age and gender) prioritize product sustainability in their purchasing decisions. Based on the Business Wire studies, 85% of consumers have become ‘greener’ in their purchasing in recent years.
Loyalty Programs: Data suggests that repeat customers spend 67% more than new ones. Incentives like discounts for returning customers or early access to deals can deepen loyalty.
What can Datonics offer?
Our Audience Insights platform helps merchants of all sizes tap into the analytical power and best-in-class shopper data afforded to top retailers and brands. It allows merchants to know their customers better, identify them wherever they go, and create better experiences as they navigate their e-commerce journeys.
Key data segments include families looking for gifts, eco-conscious shoppers, and individuals seeking exclusive or personalized products. Understanding their distinct behaviors and needs can help you tailor your marketing efforts for maximum impact:
Shopping Intent > Holiday and Special Event Shoppers (300300)
Shopping Intent > Holiday and Special Event Shoppers > Cyber Week > Black Friday (300345)
Shopping Intent > Holiday and Special Event Shoppers > Seasonal Products (300370)
In addition to targeting broad audience categories, you can refine your marketing strategy by focusing on specially created persona segments. These segments were developed to represent distinct customer archetypes, based on detailed data analysis of demographics, behaviors, preferences, and purchasing patterns:
Lifestyle > Personas > Affluent Holiday Shoppers (365150)
Lifestyle > Personas > Wealthy Shopper Moms (365035)
Lifestyle > Personas > Environmentally Conscious & Green Living Donors (365140)
You should also consider engaging heavy shoppers and shopper moms, both of whom represent powerful and often underutilized markets that can be highly valuable throughout the year, especially during peak shopping seasons:
Household Consumer Behaviors > Heavy Shoppers (390200)
Household Consumer Behaviors > Shopper Moms (390500)
And of course, we can also tailor custom audience segments specifically designed to meet your business needs. Whether you want to focus on a niche group or create a highly specialized target market, we have the flexibility to define segments based on a variety of criteria.
Small Business Saturday is not just a one-day event; it's a crucial opportunity for local businesses to engage with their communities and boost their bottom line. Leveraging data-driven strategies — such as utilizing social media, offering loyalty rewards, and emphasizing sustainability — can help small businesses maximize their impact.