The first-ever Small Business Saturday took place on November 27, 2010, and encouraged people across the country to support small, local businesses. Now in its 5th year, Small Business Saturday returns this weekend, and it’s big business for millennials.
Millennials, born in the eighties and nineties, are one of the largest populations of our generation. They are a segment of the market predisposed to trust their local small brick and mortar businesses, partially thanks to the distaste of big business. Millennials, approaching 80 million strong, have $1.7 billion in wallet power. Local retailers would be foolish not to tap into that.
Our Millennial Study found that Millennials’ buying habits include a distinct lack of interest in traditional advertising, and have a strong loyalty to the brands their peers like, help the common good, and a driving need to interact with these brands via social networks.
For more on Small Business Saturday, click here.