Small Business Saturday Rising: How Millennials and Gen Z are Shaping a New Era in Holiday Shopping

November 21, 2023
1 min read

Younger (than me) generation in action again! A groundbreaking Bankrate survey reveals that 61% of holiday shoppers are now favoring Small Business Saturday over the traditional Black Friday rush, marking a significant shift in consumer behavior.

You may ask what the hell is Small Business Saturday? OK, let me explain – Small Business Saturday is a marketing initiative created and promoted by the American Express credit card brand to encourage holiday shopping on the Saturday after Thanksgiving in the United States, during one of the busiest shopping periods of the year. This Saturday is always the last one in November, so it falls between November 24 and November 30. And it’s relatively new as first edition was in 2010.

Why Small Business Saturday? An impressive 72% of consumers are consciously choosing to support small businesses, up from 65% last year. This shift reflects a growing awareness and commitment to empowering local economy​y.

Who’s Leading the Charge? Of course, it’s the younger generations! Millennials and Gen Z are at the forefront, with 72% and 69% participation, respectively, in Small Business Saturday activities. They’re redefining shopping norms and showing robust support for local business​​s.

The majority of shoppers are planning to tick off their holiday shopping lists in November, influenced by a frugal mindset due to inflation and high interest rates. This trend is shaping up to make this season one of the most significant discounting periods in recent ye​​ar.

An interesting aspect of this trend is the blend of in-person and online shopping, with a 72% split for both modes. This omni-channel approach is particularly notable among baby boomers, who are more inclined towards online shopping at large businesses, while still engaging in in-person shopping at small business​.

With the rise in small business support, it’s crucial to adapt to the changing landscape. Enhancing online shopping experiences and leveraging innovative technologies like augmented reality can significantly boost sales and customer engagem​​ent.

One of the primary reasons people shop small is for unique gift ideas and exceptional customer service. Small businesses are recognized for creating a sense of community and offering distinct products and services not found in larger stoce. And definitely it’s very hard to reflect all these felling and emotions in ecommerce. Hard but not impossible – creativity wins over technology here.

It looks like that ecommerce people must really rething their approach to festive season. Creating a festive atmosphere, both in physical stores and online, can significantly enhance customer experiece.

This trend isn’t just a passing phase; it’s a movement towards more mindful and community-oriented shopping. It presents a unique opportunity for small businesses to shine and for consumers to make a meaningful impact with their purchasing power.

I wrote about this few times already. Younger generations they will redefine it in their own way digital landscape. It makes no sense to fight it, it’s better to rethink the approach. Fascinating times are comming.

Marek Molicki

Marek Molicki, since 1998 in the online industry. Extremely motivated to reach goals. Ideas deliverer, problems solver, finder of new ways, the doer. Social media fan, public speaker, trainer. Constantly looking for new skills to learn. Impossible is nothing, it's only the question of time and being consequent.
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