Small Business Saturday is now in its eighth year after American Express launched a campaign in 2010 to help small business get a bigger piece of holiday spending.
People are expected to spend 47 percent more than they did last year during the shopping weekend that runs from Black Friday through Cyber Monday, according to RetailMeNot survey data reported by Forbes.
According to the data, people plan to spend an average of $743 this year compared to $505 for the same period last year.
Small businesses are hoping to see a boost as part of a nearly decade old marketing campaign designed to draw attention to local establishments.
The 2017 Small Business Saturday Consumer Insights Survey released Wednesday showed that 61 percent of U.S. consumers are aware of Small Business Saturday with 82 percent of those planning to shop at a small, independently-owned retailer or dine at a small independently-owned restaurant that day.
The survey was created by the National Federation of Independent Businesses and American Express.
“Small Business Saturday provides people an opportunity to discover and celebrate the variety of small businesses that make their communities thrive,” according to a press statement from Elizabeth Rutledge, Executive Vice President, Global Advertising & Brand Management at American Express. “Beyond visiting their favorite go-to spots, shoppers say Small Business Saturday inspires them to visit places they have not been to before and would not have otherwise tried.”
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