Small Business Saturday was launched by the American Express Corporation seven years ago (2010).
Unlike Black Friday, which has been around since the 1960’s and Cyber Monday, which debuted in 2005, Small Business Saturday shifts the focus away from large retailers to shops like those in the heart of Morristown.
Many new businesses have moved into downtown since last year’s Small Business Saturday.
New residents have moved into the new apartments and condominiums. The Morristown Partnership cites the town as drawing nearly 75,000 people each day for both work and recreation.
Let’s trust that the convergence will enable businesses to thrive through the holiday season and beyond. Don’t know what gift to buy at a downtown boutique? Morristown Partnership offers gift certificates which can be used at any participating business.
Meanwhile, Morristown’s business district still has space for more boutiques and restaurants. Franchising has its attractions including a parent company to assist with market data. The Morris County Economic Development commission owns a powerful database which they can use to attract new businesses.
For those with unique offerings, there are DIY tools and resources. Marketing opportunities include our publication, and the Morristown Partnership’s suite of offerings.
The federal government provides Census Business Builder, Small Business Edition — 2.2, a software tool providing data for a business plan or to better understand the potential market for a product or service. Analysis is provided as a map, charts and key figures in spreadsheet format.
Take for example, a retail outlet for which there is recent, high-quality data: Liquor stores. The pictorial results, shown below, indicate that in 2015 Morristown had 10 liquor stores, significantly more than the surrounding communities.
Furthermore, the number of liquor stores has not changed much since 2007. The spending patterns for liquor purchases are broken down by dollars spend in restaurants and bar for 1) beer 2) wine; purchases to be consumed off premise; purchases by men vs. women. (Spoiler alert – women spend more on wine.)
Analysis can also look at a town’s age and wage demographics, ethnicity and other factors. Looking a restaurant expenditures, we can view available data on a map or graphically as below.
Small Business Saturday is here to stay. Last year, Congress passed a House Resolution recognizing November 26, 2016, as “Small Business Saturday” and supporting efforts to increase awareness of the value of locally owned small businesses.
This year the Small Business Administration released this statement: “Saturday, Nov. 25, 2017, is Small Business Saturday® …. Please join the SBA and organizations across the country in supporting your local small business by shopping at a small business.” The registered trademark is held by AmEx.