On the 15th Annual Small Business Saturday, American Express Reports an Estimated $22 Billion in Consumer Spending

On November 30, people celebrated, ate, and shopped — so much so that the total reported projected spending of U.S. consumers who shopped at independent retailers and restaurants on Small Business Saturday reached an estimated $22 billion, according to the American Express 2024 Small Business Saturday Consumer Insights Survey.

American Express rang in its 15th Small Business Saturday with celebrations around the U.S. In New York City, the Empire State Building was brilliantly lit up in blue. And Charleston’s vibrant streets got even brighter with a performance by Noah Kahan.

Amex also supported small businesses impacted by recent hurricanes through a giving pledge. For every transaction that was made at a qualifying U.S. small business on the Shop Small Map using an eligible American Express Card that day, $1 will be donated to the U.S. Chamber of Commerce Foundation to support recovery efforts for small businesses impacted by Hurricanes Helene and Milton. This is in addition to our $5 million in philanthropic funding for the Small Business Hurricane Recovery grant program.

Since launching Small Business Saturday in 2010, American Express has brought communities together by connecting small business owners with local customers to kick off the holiday season when these businesses needed the foot traffic. Fifteen years later, total reported spend at small businesses during the annual Small Business Saturday in the U.S. has reached an estimated $223 billion² since tracking began.

The 2024 American Express Shop Small Impact Study³, conducted prior to Small Business Saturday, showed that 84% of small business owners agree that Small Business Saturday is more critical than ever for their business this holiday shopping season — up from 48% in 2023. 85% of consumers say they are likely to Shop Small this holiday season, including 88% of Millennials and Gen Z. Most shoppers report they Shop Small to make an impact locally.

The study also highlighted just how much small businesses and communities count on one another. Three quarters of consumers agreed small businesses are essential to the community, while 86% of small business owners said community support helps them thrive.

The American Express 2024 Small Business Saturday Consumer Insights Survey, conducted after Small Business Saturday, reported that 85% of consumers who shopped at a small, independently owned retailer on Saturday, November 30 shopped in-store. Additionally, 66% of consumers who shopped on Small Business Saturday strongly agree that they found a small business or independently owned restaurant where they are likely to return and become a regular customer, and 73% plan to continue to participate in Small Business Saturday because of the impact it has on their local communities.