While major retailers like Amazon and Target are running month-long holiday deals, you should consider paying it forward and shopping small for gifts this year since your spending can make a big difference for a small business owner.
Roughly three in four (75%) small business owners have said that they need holiday spending to return to normal in order to stay in business in 2021, and almost half (46%) expressed the need for above average spending, according to the American Express Shop Small Impact study.
Thankfully, there are simple actions you can take to support local businesses, such as participating in Amex’s 11th-annual Small Business Saturday®, which falls on November 28 this year.
Purchasing gifts from a local shop is more important than ever since many businesses were shuttered this year due to the coronavirus and lost sales.
In order to remain open during the pandemic, the majority (92%) of small business owners have pivoted how they do business, including:
- Selling on social: 38%
- Using a third-party platform: 28%
- Introducing curbside pickup: 46%
- Offering contactless delivery: 40%
Not only do these changes help keep their businesses afloat, but they also make your shopping experience easier and safer.
If you shop in-store this holiday season, consider using contactless payments whenever it’s an option. That can include adding your card to a mobile wallet like Apple Pay, or use a credit card with contactless capabilities. American Express cards have contactless capability, such as the Blue Cash Preferred® Card from American Express and the American Express® Gold Card.
To start shopping small, visit the Shop Small Map to locate small businesses in your area.
You can even help local businesses without spending anything and opting to post on social media. The study found that the majority of (78%) small business owners say that positive feedback on social media is a significant driver of business and that endorsements on social media may be worth as much as an estimated $197 billion for the U.S. small business economy.
So the next time you plan on shopping, consider visiting your local business — whether that’s online, in-person or through contactless services — and sharing your experience on social media. These simple actions can help local shops bounce back and stay in business through the new year.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.