By Daniel Hunter
£540 million is likely to be spent on Small Business Saturday(Saturday 6 December), according to Direct Line for Business.
Direct Line for Business said 47% of people are planning to support Small Business Saturday by spending an average of £24.39 with their small, local, independent businesses.
People living in the East Midlands (54%) and Wales (53%) are most likely to support Small Business Saturday, while the biggest spenders are likely to be living in London (£30.44) and the South West (£29.55). Respondents suggested they would be most inclined to purchase grocery products (43%), cards/gifts (24%) and specialist food/drink products (14%) from an independent shop on Small Business Saturday.
Jazz Gakhal, Head of Direct Line for Business, said: “Small Business Saturday is an excellent initiative that we are delighted to support. Our research shows that there is widespread interest in supporting small local and independent shops on Saturday 6th December throughout the UK. These businesses are the lifeblood of our economy so it’s incredibly encouraging to see the contribution that the public are willing to make to support their local enterprises.”
Small Business Saturday UK is a grassroots, non-political campaign which highlights small business success and encourages consumers to ‘shop local’ and support small businesses in their communities. Started in 2010, this year’s Small Business Saturday will take place on Saturday December 6th - the first shopping Saturday in December. The campaign aims to have a lasting impact on small businesses.
Professional services firm KPMG echoed the expectations, saying that it expects half a billion pounds to be spent on Small Business Saturday.
David McCorquodale, head of retail at KPMG, said: “After all the fanfare of Black Friday, the UK is gearing itself up for Small Business Saturday. This gives local retailers their turn in the spotlight and the chance to win the hearts and minds of their local community.
“Independent retailers are the life blood of the British high street, and if supported by shoppers and local government, have the potential to become the big brands of tomorrow.
“Based on the success of last year’s event, I predict that approximately half a billion pounds will be spent in small businesses on Small Business Saturday.”
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