American Express's 'Small Business Saturday'

Definition

Small Business Saturday is an initiative started by American Express in 2010 to encourage consumers to shop at local, independently-owned businesses during the holiday shopping season. The campaign aims to highlight the importance of small businesses to local economies and to foster community support, creating a narrative that resonates with consumers and strengthens brand loyalty.

5 Must Know Facts For Your Next Test

1. Small Business Saturday occurs on the Saturday after Thanksgiving in the United States, strategically positioned between Black Friday and Cyber Monday.
2. American Express invests significantly in marketing and promotional materials for small businesses participating in Small Business Saturday, providing resources like signage and digital advertising.
3. The initiative has gained widespread support from local governments, communities, and consumers, leading to a significant increase in awareness and sales for small businesses.
4. As part of the campaign, American Express has created partnerships with various organizations to further promote small business awareness and engagement.
5. In recent years, Small Business Saturday has expanded beyond the U.S., encouraging similar movements in other countries to celebrate and support local businesses.

Review Questions

• How does Small Business Saturday foster community engagement and support for local economies?
  • Small Business Saturday fosters community engagement by encouraging consumers to shop locally and support independently-owned businesses during the holiday season. By promoting these small businesses, the campaign helps create a sense of community pride and solidarity among consumers. The initiative raises awareness of the significant impact that shopping locally has on the economy, which encourages more people to participate in supporting their neighbors and community members.
• Discuss how American Express's marketing strategy for Small Business Saturday contributes to its overall brand image and customer loyalty.
  • American Express's marketing strategy for Small Business Saturday enhances its brand image by positioning the company as a champion for small businesses and local economies. By actively promoting this initiative, American Express demonstrates its commitment to supporting entrepreneurs, which resonates with consumers who value community involvement. This approach not only strengthens customer loyalty but also differentiates the brand from competitors by aligning it with positive social values and initiatives that matter to its audience.
• Evaluate the long-term effects of Small Business Saturday on consumer behavior and the broader retail landscape.
  • The long-term effects of Small Business Saturday on consumer behavior are significant, as it has shifted attitudes towards shopping locally and increased awareness about the challenges faced by small businesses. Over time, this initiative has contributed to a cultural change where consumers increasingly prioritize supporting local over large retailers. The success of Small Business Saturday has inspired other brands and organizations to adopt similar initiatives, altering the broader retail landscape by fostering a greater emphasis on community engagement and sustainability in shopping habits.

Related terms

Shop Local Movement: A consumer trend that emphasizes purchasing goods and services from local businesses to support the local economy and promote sustainability.

Brand Loyalty: The tendency of consumers to continue buying the same brand's products or services over time, often influenced by emotional connections and positive experiences.

Cause Marketing: A marketing strategy that aligns a brand with a social cause or issue, aiming to create a positive impact while also driving sales and customer engagement.