MINNEAPOLIS (WCCO) — First, it started with Black Friday. Then, there was Cyber Monday. Now, there’s also Small Business Saturday.
Thousands of bargain shoppers line up at shopping malls and big box stores this time of year to try and snag those deep discounts, but what about local small businesses?
Dana Silver Youman with Jeffrey Jewelers in downtown Minneapolis said there are many advantages to shopping at independent stores.
“I really feel that the reason to work with the small businesses is because you get the customer experience, the knowledge, attention to detail is very important, the high quality and sometimes it’s better pricing” said Youman.
NewsRadio 830 WCCO’s Samantha Smith Reports
In an effort to help support the initiative, American Express is giving a $25 credit to cardholders who spend at least that much at an eligible small business during Small Business Saturday.
“I think it’s really amazing, it really gives us a chance to get out there and help this economy. And ultimately, really, because they’re doing that, it helps and it brings money back into the local community, which is very important,” said Youman.
According to the 3/50 project, for every $100 that is spent in locally-owned independent stores, $68 returns to the community through taxes, payroll and other expenditures. If you spend the same amount in a national chain, only $43 percent comes back and if it’s spent online, nothing comes home.
Plus, Youman said smaller stores provide a more one-on-one experience.
“We do spend time and we listen and care about our clients’ needs, and we really make it a personal experience. We have lots of personal relationships with many of these people and know them on a first name basis. It’s really great,” saud Youman.
More information on the Small Business Saturday initiative can be found on Facebook.