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American Express’ 10th Annual Small Business Saturday® Hits a Record High with an Estimated $19.6 Billion in Reported Spending

AN ESTIMATED 110 MILLION SHOPPERS, UP FROM 2018, POSITIVELY IMPACTED COMMUNITIES BY CHOOSING TO SHOP SMALL® ON NOVEMBER 30TH

NEW YORK
As the holiday shopping season kicks off, shoppers from coast to coast made an impact at small businesses on the 10th annual Small Business Saturday, held on November 30, 2019. New data released today found U.S. shoppers who shopped at independent retailers and restaurants on Small Business Saturday reported spending a record high total of an estimated $19.6 billion, according to the 2019 Small Business Saturday Consumer Insights Survey from American Express (NYSE:AXP) and the National Federation of Independent Business (NFIB).i

“We all came together on Saturday to prove that shopping small really does add up,” said Elizabeth Rutledge, Chief Marketing Officer at American Express. “We are thrilled to report that shoppers are increasingly making a conscious effort to Shop Small and support their local communities, and over the past 10 years consumers reported spending an estimated total of more than $120 billion at small businesses on Small Business Saturdayii.”

Small Business Saturday was created 10 years ago by American Express in response to small business owners’ most pressing need: getting more customers. Today, the day has become a national tradition with seven in ten (70%) American adults surveyed by American Express and NFIB reporting being aware of the day. Shoppers this year are conscious and considering the impact small businesses have in their community. A vast majority of respondents who shopped on Small Business Saturday (96%) agree that shopping at small, independently-owned businesses supports their commitment to making purchases that have a positive social, economic and environmental impact.

MAKE AN IMPACT BY SHOPPING SMALL THROUGHOUT THE YEAR
According to the 2019 Small Business Saturday Consumer Insights Survey, 97% of consumers who shopped on Small Business Saturday agree that small businesses are essential to their community and 95% reported the day makes them want to shop or eat at small, independently-owned businesses all year long, not just during the holiday season. American Express is hoping to inspire Card Members to make the conscious decision to Shop Small year-round by recognizing their spending at small merchants.

Beginning this year, Card Members will receive personalized communications that highlight how their Shop Small spending can add up.

“We are committed to helping small merchants grow their businesses, whether it is through marquee initiatives like Small Business Saturday in the U.S., helping to prevent fraud, or introducing new policies and programs that make accepting American Express easier and more seamless,” said Anré Williams, Group President of Global Merchant & Network Services for American Express. “We are proud that more than three million new places in the U.S. started to accept American Express over the past three years, and we look forward to continuing to demonstrate the many ways that welcoming American Express is good for business.”

ABOUT THE 2019 SMALL BUSINESS SATURDAY CONSUMER INSIGHTS SURVEY
The 2019 Small Business Saturday Consumer Insights Survey was conducted by Teneo on behalf of American Express and the National Federation of Independent Business (NFIB). The study is a nationally representative sample of 2,287 U.S. adults 18 years of age or older. The sample was collected using an email invitation and an online survey. The study gathered self-reported data and does not reflect actual receipts or sales. It was conducted anonymously on December 1, 2019. The survey has an overall margin of error of +/- 2.0%, at the 95% level of confidence. Projections are based on the current U.S. Census estimates of the U.S. adult population, age 18 years and over.