Small Business Saturday: NYC stores hoping to get a boost
BROOKLYN (WABC) -- About 166 million people plan to shop between Thanksgiving and Cyber Monday, the National Retail Federation said.
Saturday, however, is all about shopping small and local, as support for Small Business Saturday continues to grow.
It's the Super Bowl for mom-and-pop shops and last year, shoppers spent $23 billion on this shopping day.
In the wake of the pandemic, it is more important now than ever.
Online shopping took the reins over the last few years, putting a damper on the festivities of Small Business Saturday.
In the Park Slope area, a bookstore, toy store, and pharmacy are just some of the dozens of participating stores this Small Business Saturday.
"Small business is incredible. any neighborhood that you live in. If you own or even if you rent, it's the backbone of the community. We live in New York City. to walk up and down the street, to shop, to go to a coffee shop... to window shop. Without that, you might as well move to Montana," Something Else owner Doug Grater said.
Two-thirds of every dollar spent at a local business reportedly stays right in the community.
This year, people are feeling the pinch of 40-year high inflation rates.
Yet, owners of small businesses still hope that shoppers are looking for affordable gifts and treats, and will buy them on the day sandwiched between Black Friday and Cyber Monday.
Small businesses owners have set up shop at Bryant Park and other locales as a way to show tourists and locals all the items they can buy locally this holiday season.
Mayor Eric Adams called small businesses the drivers of the city's economic engine.
"Go out, spend money, to all the tourists who are here, we only have one ask of you, spend money... shop locally, shop a business, browse a business. Go in and interact with some of your small businesses," Adams said.
He rang the opening bell at NASDAQ on Friday to signify this important day that shows love for small businesses.
MORE NEWS: 7 On Your Side's Holiday Shopping Guide
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