Small Business Saturday Amounts to 5.7 billion in salesAssociation of Business Training
December 4, 2013 — 788 views
Most American consumers are already familiar with Black Friday and Cyber Monday. But now a marketing campaign has taken root. It is called Small Business Saturday and it aims to promote the products and services that small businesses have to offer during this busy time of consumer shopping.
So far, the campaign has been a success. Already, goods worth 5.7 billion dollars have been sold and the figure is likely to increase next year. The campaign has been a success by all accounts and will soon be a permanent fixture on our calendars.
How Small Businesses Operate
Small businesses face a lot of challenges. They find it difficult to raise capital and to expand across their market to newer locations. They also have a hard time trying to acquire newer customers.
So it comes as no surprise that small businesses depend a lot upon the frequency of sales. Small businesses need to be able to sell every day. For this they need brand loyalty and customer familiarity. And thanks to the Internet, they can now achieve this goal. The Internet allows them to reach their customers and provide the best service they can. The Internet also allows them to provide deals and discounts that they otherwise could not provide.
Small Business Saturday is an attempt to bolster the market prominence of small businesses by encouraging customers to spend their money on small businesses on a particular day. The effort has been covered by the media and has also received a lot of publicity.
Impact of Small Business Saturday
So far, Small Business Saturday has had a positive impact. Many small businesses have doubled or tripled their daily sales. Many have even run out of stock and inventory. The total sales have amounted to 5.7 billion dollars, which is a staggering number for such a small time duration.
Many small businesses are very satisfied with the result of the campaign and would love to participate in it again. It remains to be seen whether or not more businesses join in the campaign as well. For all it seems, most businesses have a lot to gain and little to lose from it.
The campaign not only provides free publicity, but also creates spontaneous demand for the products that a small business offers. This goes a long way in enhancing the profitability and long term sustainability of a small business.