Retail update: Black Friday vs Small Business Saturday
John Lewis kicked off November’s global sales day – ‘Black Friday’ – “earlier than ever” last week, unveiling hundreds of offers in-store and online.
Black Friday usually kickstarts people’s Christmas shopping and marks the beginning of a busy sales period for high street and online retailers.
However, reports suggest that only 26% of shoppers are planning to shop in the Black Friday sales this year, down from the 39% who made a purchase last year.
Of those planning to shop, 13% planned to pick up Christmas presents, while 23% said they were waiting in hope of a good Black Friday deal before making a purchase. [Source: Retail Gazette]
With rising costs continuing to impact small businesses and consumers, and a growing focus on sustainability, many independent retailers simply can’t compete with the discounts offered by the high street/online giants. There is a growing movement against Black Friday with many retailers choosing not to take part.
Small Business Saturday UK is a grassroots, non-commercial campaign, which highlights small business success and encourages consumers to ‘shop local’ and support small businesses in their communities.
Taking place on the first Saturday in December each year, the campaign aims to have a lasting impact on small businesses.
On Small Business Saturday, customers across the UK go out and support all types of small businesses – from a family business, local shop, online business, wholesaler, business service or small manufacturer.
Founded by American Express and now in its eleventh year in the UK, the campaign has grown significantly year on year encouraging millions to shop small.
Many small businesses take part in the initiative, instead of supporting Black Friday.