And if the laptop factor weren’t enough, The National Retail Federation is reporting that consumers claim price as the most important deciding factor in where they shop and what they buy. Retail businesses with sales in the $25 million to $1 billion range can discount and survive, but what about the small specialty shop down the street? How does that entrepreneur make money and compete with the huge discount retailers? There might be some hope peaking through the clouds on Black Friday this year because the NRF also reports in the Wall Street Journal that for the first time since 2006, we’re starting to see the beginnings of a tiny trend toward an emphasis on incentives other than price. It’s just a glimmer at this point, but it could become a full-fledged trend if and when the economy starts to grow.

 

In the meantime, American Express OPEN, the small business credit card, has joined with advocacy groups such as NAWBO and online giants Facebook and Yelp to promote November 27 as “Small Business Saturday” in an effort to get consumers to think local for their holiday shopping. And small towns have a big incentive to support this effort because it is estimated that for every $100 you spend in a local store, $68 comes back to the community in the form of taxes, jobs, and other benefits. The project has launched on Facebook at  http://facebook.com/smallbusinesssaturday.  If you register your American Express Express Open card and use it to shop on Saturday at local stores, you’ll get a $25 credit and help a small business and maybe even create some new jobs in your community.

 

Happy Thanksgiving, small business owners!