Denver’s small business community remains hopeful that their revenues from this year’s holiday season will be larger than in 2016, as Americans nationwide would spend $743 compared to $505 last year during the Thanksgiving holidays.
Forbes’ RetailMeNot survey showed that the figure represented a 47% year-over-year increase. Denver Mayor Michael Hancock plans to tour several small businesses on November 25, which is Small Business Saturday in Denver for 2017.
Economic and Employment Driver
Small businesses account for more than 80% of all enterprises in Denver, so it is not surprising that almost 50% of the city’s employment come from these local companies. Competition among small-sized companies will likely be tight as well, especially for those in the same line of business.
For this reason, business owners should find ways to expand their client base by using modern tools such as search engine optimization (SEO) or online marketing campaigns. An SEO company in Denver will be able to promote your product or service online, as doing so has become relevant amid the growing use of digital technology among consumers. A high level of awareness among consumers on the small business community’s impact also serves as another reason to elevate your brand presence.
American Express and the National Federation of Independent Businesses’ survey showed that 82% of respondents plan to buy products from an independently owned retailer during Small Business Saturday. As much as 75% plan to buy from one or more small businesses.
According to the 2017 Small Business Saturday Consumer Insights Survey, 90% of the respondents also agreed on the importance of supporting local retailers. The survey based its findings on more than 1,700 respondents.
Residents in Denver not only help the local economy by patronizing small businesses but also help their fellow community members earn a living during the Saturday after Thanksgiving.