Independent retailers are set to pocket around half a billion pounds this weekend as the second annual Small Business Saturday takes place on December 6, according to KPMG.
The event, which highlights small businesses and encourages consumers to support local companies in their communities, generated £460m last year.
“After all the fanfare of Black Friday, the UK is gearing itself up for Small Business Saturday,” said David McCorquodale, head of retail at KPMG. “This gives local retailers their turn in the spotlight and the chance to win the hearts and minds of their local community.”
Separate research by Direct Line for Business suggests 47% of people in the UK will support the campaign, spending an average of £24.39 each - equivalent to £543m.
Independent fashion retailers Drapers spoke to last week had mixed feelings about the campaign, which was launched in 2013 to drive footfall to small businesses. Some welcomed the initiative that encouraged people to ‘shop local’, while others remained unconvinced about its impact. Some had never heard of it.
Staffordshire-based menswear supplier Douglas and Grahame, which is behind brands such as Douglas, Daniel Grahame, Drifter and Wellington, is among those urging other big businesses to support their smaller counterparts on Small Business Saturday.