Shoppers vote with their wallets and they overwhelmingly support small businesses operated by their neighbors and friends. Some 79% agreed that small businesses are essential to their communities.is a moment for all of us to show small businesses how much they matter to us and to help bolster local economies,” said Brett Sussman, vice president and head of sales & marketing, Kabbage from American Express.
Despite negative economic headwinds, with some 66% of those surveyed scaling back holiday shopping this year and consumers expecting to pay more in independent specialty shops, that isn’t holding them back. Some 86% of consumers said they were likely to shop small this holiday season versus just 13% who likely won’t make it.
A strong holiday 2022 will make a real difference for small businesses. The SBOs surveyed reported nearly one-fourth of their annual revenues are made between Black Friday through New Year’s Eve.
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