Small Business Saturday originated in 2010 and has become an annual event to help spur small business sales. The date, which sits between Cyber Monday and Black Friday, has seen huge increases in revenue since its beginning. "Founded by American Express (NYSE: AXP)…to encourage people to “shop small” with local independent merchants for the holidays, the event has grown from $11.5 billion worth of business in 2012 to $16.2 billion in 2015, its largest annual increase yet,“
The key to its success is the small business movement. As the date nears, small businesses from around the nation partner to promote and advocate for small business shopping. With so much promotion, both online and in person, consumers are pushed to visit and purchase from smaller firms. The retail market sees a particularly boom as consumers gear up for the Holiday.
This year looks to benefit from annual date as more potential consumers are more aware of the event. With small businesses generating $16.2 million last year, record sales are predicted for late November.