This holiday season, American Express is kicking off its 11th annual Small Business Saturday with a social media campaign that can help amplify the positive impact that US consumers can have on small businesses.

According to the American Express Shop Small Impact study, released on 17 November, the majority (78%) of small business owners say that positive feedback on social media is a significant driver of business.

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In fact, the study found that endorsements of small businesses on social media may be worth as much as an estimated $197bn for the US small business economy.

Beyond that perceived value, positive social media mentions can go even further this year, as 89% of consumers say they are more likely to shop at a small business that friends or peers have recommended.

To be kicked off on thanksgiving weekend

This year’s Small Business Saturday, which will take place on 28 November, during thanksgiving weekend, is an important part of the holiday season for small merchants as they work to recover from the economic impact of the Covid-19 pandemic.

In 2019, an estimated 110 million people participated in Small Business Saturday, and sales hit a record high with an estimated $19.6bn in reported spending.

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Initially founded in 2010 by American Express in response to the Great Recession, Small Business Saturday has evolved into a year-round global Shop Small campaign to support small merchants.

Earlier this year, American Express helped jumpstart spending at small businesses by committing more than $200m through the company’s largest ever global Shop Small campaign.

People feel “a personal commitment to support small businesses”

Elizabeth Rutledge, Chief Marketing Officer of American Express, said:

“We know that 88% of US consumers feel a personal commitment to support small businesses in the wake of the pandemic. Whether online, curbside, or safely in store, we’re reminding consumers that they can help make an impact by shopping small and sharing their favourite small businesses on social media all holiday season long.”