Small Business Saturday appears to be here to stay. The third annual event, which takes place the day after Black Friday, saw consumers spend $5.5 billion according to a survey released by the National Federation of Independent Businesses (NFIB).
Surveys had estimated that consumers would spend $5.3 billion. American Express said card member transactions at small business merchants rose approximately 21 percent compared to last year’s Small Business Saturday.
“In an uncertain economy, America’s small businesses have remained a beacon — creating good jobs and supporting the families they employ and the communities around them,” said NFIB CEO Dan Danner. “We are very pleased that so many Americans sought to give back by shopping small this Small Business Saturday. Continued support of this vital sector is one important way to ensure our economy fully recovers and a healthy private sector is restored.”