Most Americans are skipping Black Friday for Small Business Saturday, economists say
CHICAGO (CBS) -- More people are expected to shop local this weekend as part of Black Friday and Small-Business Saturday.
Of the two days, a Bankrate survey found most Americans are planning to skip today, and instead shop tomorrow.
Economists say it means more holiday shoppers are warming up to the idea of investing in small mom-and-pop shops in their local community.
"Gen Z is actually a big part of that. There's a statistic that about 67% of TikTok users are buying items from small businesses that show up on their for-you page," said Kathy Korman Frey, director of the Center for Entrepreneurial Excellence at the George Washington University School of Business.
That's good news for small businesses.
A QuickBooks survey found 80% of shop owners say this holiday season is more important to their bottom line than it was last year.
