Mom And Pop Shops Hope For Big Profits On Small Business Saturday
LOS ANGELES (CBS/AP) — Small business owners Saturday, hoping to reel in holiday shoppers, promoted the second annual Small Business Saturday in Los Angeles and 14 other U.S. cities.
American Express launched the nationwide shopping event in 2010 to boost revenues and the economy.
It takes place the day after Black Friday, the traditional start of the holiday shopping season. It is intended to encourage shoppers to patronize independent local businesses.
Last year the effort helped businesses pull in an extra 28 percent in sales.
Promotions were also being held Saturday in 14 other cities including New York, Boston, Philadelphia, Miami and Detroit.
An estimated 89 million consumers nationwide had said they planned to shop small this weekend.
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