Small Business Saturday 2023: need help from shoppers. Here’s what you can do all year long.
Small Business Saturday 2023: Sandwiched between Black Friday and Cyber Monday – historically the biggest and busiest retail day of the year – is another extraordinary shopping event: Small Business Saturday. Launched by American Express in 2010 and co-sponsored by the United States Small Business Administration (SBA) since 2011, Small Business Saturday aims to create awareness among shoppers about the impact purchasing “small” things can have throughout the year, Even if they physically go to the store. Or shop online.
According to the American Express 2023 Shop Small Impact Study, 85% of consumers say they will likely make “small” purchases this year during the holiday season. This represents a multibillion-dollar opportunity – consumers are expected to spend an estimated $125 billion at small businesses this holiday season, up 42% from $88 billion in 2022, Intuit QuickBooks reports.
We talked to experts about the resources you can use to support small businesses and what impact your purchase will have. We’ve also included some handpicked employee favourite products from small businesses we love.
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Select Favorite Small Businesses of 2023
To recommend a variety of small businesses to shop, we gathered some of our favourite products from around the country. This is by no means an exhaustive list – read more below about ways to find small businesses to shop for.
backlot coffee flying squirrel
Thank god Backlot Coffee ships nationwide because that’s what I miss the most while living in Evanston, Illinois. I used to camp out at this shop for hours every weekend in college and consume its Flying Squirrel concoction until the sun went down. As I write this I can taste its chocolate, fig and roasted almond flavours (probably because I just made a fresh pot, as I do every morning).
Bonita Fierce Coquito Candle
Bonita Fierce is one of our favourite Latino-owned businesses, and NBC Select Update editor Millie Godio says the brand’s Coquito candle is her favourite to burn. It makes her apartment feel like home and fills it with the sweet scent of coconut, buttered rum, vanilla, cinnamon and spices.
Josu Just Salt
NBC page Hannah Feuchtman recommends adding Josu’s mineral-rich Korean sea salt to your spice cabinet. According to the brand, unlike regular table or kosher salt, which is made up of 100% sodium chloride, Josu salt contains calcium, potassium, magnesium and other minerals. It arrives in a 3-ounce container and you can sprinkle it on any of your #1 dishes.
Tchotke Bubble Menorah
If you’re looking for Hanukkah gifts, consider Tchotke’s Menorah, one of NBC Select editor Lindsay Schneider’s favourite small businesses. She especially likes the brand’s stoneware bubble menorah, which has a non-traditional design and looks beautiful on tables, mantles or shelves beyond the holidays. It fits standard Hanukkah candles.
Polar Bottle Breakaway Wave 20-oz. bike bottle
NBC Select reporter Harry Rabinowitz often takes water bottles from this brand on his bike rides. The Breakaway Bottle is lightweight, designed to fit most bike cages and features a grooved grip pattern. It is available in 20-ounce, 24-ounce, and 30-ounce sizes.
Isla Beauty The Elixir
NBC Select contributing editor Bethany Heitman says Isla Beauty’s essence has transformed her skin, making it her all-time favourite skin care product. According to the brand, similar to toner, the elixir is an essence that brightens and firms the skin, leaving it smoother and more balanced over time.
State of small businesses in 2023
On the surface, people have always recognized the importance of small purchases, says Joe Black, director of product, and commerce at Intuit, where he works with small and medium product-based businesses. But in recent years, he says shoppers have developed a deeper understanding of how important it is to do so. They saw small businesses struggle to stay afloat during the pandemic in 2020 and 2021 and saw many close permanently.
Now, despite being in a more stable position, some surviving small businesses may not fully recover from years of economic turmoil as supply chain issues, staff shortages and inflation are hitting them. “Independent companies have made some intense memories throughout recent years,” says Dark. “They’re dealing with these enormous moves as well as going toward greater associations with more prominent monetary plans persistently.”
Despite these difficulties, small businesses are constantly working to adjust their business models to adapt to changing circumstances and reach more customers in the long term. Black says
