Wedged between Black Friday and Cyber Monday this week is Small Business Saturday, designed to draw attention to small businesses during the country's busiest shopping time.
"Small business owners have banded together for a Small Business Saturday marketing effort because they want to encourage a diversity of shopping experiences people wouldn't get if all they had were chain retailers," said Kathy Deck, director of the Center for Business and Economic Research at the University of Arkansas.
At A Glance
Shopper Survey
Findings from the Small Business Saturday Consumer Insights Survey include:
• Nearly 94 percent of U.S. consumers say shopping at small businesses makes them “feel good.”
• On average, shoppers estimate nearly one-third of their holiday shopping will be done at small businesses.
• Two-thirds of consumers say the main reason they patronize small businesses is because they value the contributions they make to their community.
• About 57 percent of shoppers say they know one or more of their local small business owners personally.
Source: National Federation of Independent Business
This year marks the fifth year for the marketing campaign American Express created in 2010.
Brooke McDonald, a saleswoman at Fayettechill's Dickson Street store, said the holidays are the busiest time of the year for the Fayetteville-based clothing company.
"Everyone wants to bring home a part of Fayetteville," she said of people buying T-shirts and other clothing items as gifts.
McDonald said the store is having an extended holiday sale to draw shoppers throughout the season in lieu of having one big Small Business Saturday sale.
The National Retail Federation predicts holiday retail sales will hit $619.9 billion this year, up 4.6 percent from the $592.7 million consumers spent last year. Shoppers spent $57.4 billion last year over the four-day shopping weekend starting on Thanksgiving Day.
The National Federation of Independent Business reports shoppers spent $5.7 billion at locally owned shops and restaurants during the 2013 Small Business Saturday.
A survey done by American Express and the independent business group showed spending at locally owned businesses increased 3.6 percent from 2012's event.
Bill Rogers, vice president of communications and special projects at the Springdale Chamber of Commerce, said he hopes people shop at small businesses year-round, but is happy to see them in the spotlight for one day.
"It's good to make people stop and think about where they shop," he said. "There are some real jewels of locally owned businesses people can take advantage of."
Avery Fast, saleswoman at The Mustache Goods & Wears on the Bentonville square, said special events draw in new people, but she enjoys the repeat customers.
"You get to meet customers and build relationships with them," Fast said. "Those repeat customers then bring in their families and friends to shop."
She is the 17-year-old daughter of the store's owners, Michael and Lori Fast. The family also owns a store in Fayetteville.
Wade Ogle hopes to draw new customers to Block St. Records in Fayetteville. He opened his record store Monday.
"I think holiday traffic will be paramount. I feel fortunate that I'm opening now and not in the dead of summer," he said.
Ogle and business partner Benton Bandy also own J.R.'s Lightbulb Club next door.
Blue Moon Market on the Bentonville square just celebrated its three-year anniversary. Keitlan McBride, store manager, said foot traffic isn't a problem between residents and tourists.
"We rely on those big sales days because the winter months after Christmas are not as busy," she said.
Blue Moon sells a range of products including clothes, jewelry, home decor and accessories. She said Christmas ornaments are a big seller this time of year.
Steve Cox, vice president of economic development at the Rogers-Lowell Area Chamber of Commerce, said when residents shop locally they aren't just helping that one business, but the whole community.
"The studies show every dollar spent in the community circulates seven times before it leaves," he said.
Deck said local business owners are also often leaders who give back to their communities through charitable contributions. They also spur job growth, she said.
"To have really good employment growth, you want small businesses to become big businesses," Deck said. "Net job growth really takes a small business succeeding and growing a bit larger."
The U.S. Small Business Administration reports small businesses make up 99.7 percent of U.S. employer firms and account for 63 percent of net new private-sector jobs. The administration defines a small business as having fewer than 500 employees.
Tiffany Norwood, owner of Bleachers Sports Fan Gear & Souvenirs on the Bentonville square, opened about 18 months ago and would eventually like to open a second store in the area.
"We sell as much locally made products as possible," she said. "It's important for small businesses to support each other."
Maria Contreras-Sweet, SBA administrator, said during a conference call Monday it's also important to remember locally owned restaurants and galleries when it comes to a shop local push.
"Let's make it a Small Business Saturday Night," she said.
NW News on 11/27/2014