Americans spent $19.6 billion on Small Business Saturday, which this year was held on Nov. 30.
That’s according to American Express, which launched this shop-small initiative in 2010, helping to promote local retailers that lack the marketing dollars of the big box stores.
Spending this year increased by $2 billion over 2018, according to the U.S. Small Business Administration, which joined the campaign in 2015 as a co-sponsor.
“Small Business Saturday is demonstrable proof of the big economic benefits of shopping small,” SBA Regional Administrator Steve Bulger said in a statement.
Bulger oversees the federal agency’s operations in New York, New Jersey, Puerto Rico and the U.S. Virgin Islands.
“Seven in ten adults are not just aware of the day but they [are] conscious of the of the positive impact local small businesses have in their communities,” he added.
“Small businesses across our area saw a barrage of customers come patronize their shops, celebrating what makes our downtowns and local centers of commerce unique,” SBA District Director Beth Goldberg said in a statement.
“From mom-and-pop restaurants to corner boutiques, local florists, independent book shops and coffee houses, small businesses and entrepreneurs make our communities stronger,” she added.
She said that when someone “spends $100 at a local small business, $48 is recirculated in our local economy. But if that same $100 is spent at big box store or national…