Staff File Photo / R. Michael Semple Greg Thumm, owner of Thumm & Co., an independent watchmaker in Warren, talks about watches that stand the test of time at his shop on West Market Street in October 2021 .
WARREN — Greg Sam describes the local community’s support as “vital” to the success of his small business, independent watchmaker Sam & Company. Its boutique pieces stand the test of time.
He also knows how important reviews, good, bad and neutral, are for the still relatively new business he founded in 2019 with his son in downtown Warren.
“The local community has been amazing in terms of support for what we do in the watch business,” Sam said.
For him and hundreds of other area businesses, local community support throughout the year is essential to their survival, and Saturday provides another opportunity to do business with small businesses. This is a vital cog in the local economy, further boosting the communities in which they operate.
Small Business Saturday, created by American Express in 2010 and co-sponsored with the U.S. Small Business Association since 2011, is a way to celebrate small businesses and what they do, as well as an important part of the busy holiday shopping season.
Look at the numbers
People who shopped at small business retailers and restaurants on Small Business Saturday are expected to spend about $17 billion in the U.S. in 2023, according to research from American Express.
Over the past 13 years, total small business spending reported during the annual event has reached an estimated $201 billion, according to the financial services firm.
According to the American Express website, the 2022 Small Business Economic Impact Study found that if every Gen Z and Millennial shopper spent $10 at a small business on Small Business Saturday, it would increase local economic activity across the United States. It is indicated that it will provide support of $2 billion.
The website states that for every dollar spent at small businesses in the United States, 68 cents stays in local communities, and as a result of employees and local businesses, an additional 48 cents for every dollar spent at small businesses stays in local communities. It states that research has shown that it adds to corporate activities. Buy local goods and services.
The 2023 survey also highlighted that 59% of U.S. consumers who were aware of the day shopped or ate at a small independent retailer or restaurant on Small Business Saturday that year. Regarding small business shoppers, the study says:
* 61% strongly agree that they have found a small business or independent restaurant that is likely to make them a repeat customer.
*On this day, 86% shopped in-store, with more consumers reporting shopping online at small businesses (53%) than shopping online at big box stores (34%).
* 41% shopped with family, friends, or neighbors.
According to SBA data, Ohio is home to more than 90,000 small business retailers, out of about 990,000 small businesses in the state.
“Small businesses are the backbone of our communities and play a huge role in Ohio’s economic success,” Gov. Mike DeWine said in a press release. “Every dollar spent at local small businesses goes to strengthening our economy, creating jobs and building community pride.”
local retail store
Sam, who sells watches at the prices he would sell them to major box stores, said he relies on the buzz from satisfied customers to spread the word about his products.
This kind of talk “creates a level of confidence” among consumers to try out their watch brands, he said. He sells throughout the United States through his company’s website (thummco.com), but also has many customers in Trumbull and Mahoning counties.
“And we look forward to selling even more watches this fourth quarter,” he said.
To help with this, and in conjunction with Small Business Saturday, Sam is running a sale on select men’s and women’s watches through Tuesday, including new men’s chronograph watches released in the spring.
“As a company that’s close to cost vesting, I can’t go into too much depth, but we’re doing it and that’s kind of what we celebrate on that Saturday (Small Business Saturday),” Sam said. Ta.
Orders are accepted online and at the Thumm & Co. store inside Thumm’s Bike and Clock, 330 W. Market St., Warren.
Countryside Furnishings, located at 16403 Nauvoo Road in Middlefield, is a family-owned, all-hardwood custom furniture store.
“We do anything that involves furniture,” said owner David Yoder. “It’s of the highest quality and will last most people’s lives and the lives of their children.”
Yoder said support from the community is “on hand” to keep the business, which he bought from the original owner who retired in 2020, going to survive. The store was established in 1999.
All of the wood used in the furniture is sourced in the United States, with most coming from Ohio and surrounding areas, Yoder said.
Yoder said Saturdays are typically the store’s busiest day, but Small Business Saturdays have seen a spike in business and are probably Countryside’s busiest Saturdays of the year.
The store has a Web site (country furniture.com), but shoppers cannot order from there. In fact, Yoder wants that and likes it because it fosters personal interaction with customers.
“They can understand the quality of the furniture when they see it and compare photos of it. At the same time, I think you can build a better relationship with your customers by talking to them in person,” Yoder says. says. Said.
Meanwhile, the Youngstown/Warren Regional Chamber plans to proactively remind the public and its members about Small Business Saturday through social media and email newsletters.
Approximately 90% of the chamber’s members are small and medium-sized businesses, which the chamber defines as having fewer than 100 employees. Approximately 80% of companies have fewer than 30 employees.
“By shopping local at small businesses, you’re supporting them in quite a few different ways,” said Joe Merlo, the chamber’s director of member engagement.
Doing so will keep your dollars local and help your local economy thrive. The same small businesses also help communities thrive by employing neighbors and friends and supporting youth groups, sports teams, schools, churches and programs, Merlo said. spoke.
“These are places that keep neighborhoods vibrant and local economies moving,” Merlo said.
