As Black Friday approaches, the holiday shopping season officially begins, with consumers having the opportunity to take advantage of early deals both online and in-store. Shoppers can explore platforms such as Amazon and Etsy, or visit popular malls in New Jersey like Garden State Plaza, American Dream, and Willowbrook Mall. However, there’s also a compelling case to shop locally at small businesses on Main Street. Notably, this year’s Small Business Saturday, which falls on November 30, emphasizes the importance of supporting local enterprises. The U.S. Small Business Administration reveals that small businesses constitute 99.6% of all businesses in New Jersey, underscoring their pivotal role in the state’s economy.
Small businesses are significant employers, accounting for nearly 1.9 million jobs, or about 48.8% of New Jersey’s workforce. A substantial number fall within the small business category, with over 168,000 businesses employing between one and 19 staff members, while an additional 21,705 employ 20 to 499 personnel. In 2021, around $3 billion in loans were provided to businesses with revenues under $1 million, highlighting the financial support available for budding entrepreneurs. According to recent data, approximately 50% of Americans plan to shop on Small Business Saturday. Vincent Vicari, from the New Jersey Small Business Development Center, emphasizes that small businesses thrive on the personal touch and passion of their owners, which large retailers often lack. However, concerns about pricing persist; consumers frequently find larger retailers more appealing due to lower prices, whereas small businesses excel in delivering customer service and unique products.
In the context of New Jersey’s evolving shopping landscape, downtown areas have experienced significant revitalization, particularly after witnessing economic downturns in the 1980s when many people migrated to suburban malls. Marketing professor Marc Kalan from Rutgers University points out that younger generations, notably Millennials and Gen Z, now seek vibrant downtowns, leading to a resurgence in city centers which have transformed from stagnant environments into bustling hubs of activity. For instance, Hackensack’s downtown area has undergone a revitalization with new apartment developments and businesses, earning accolades such as being named a “Great Downtown” by the American Planners Association.
During the holiday season, various events are organized in downtowns across North Jersey to promote local businesses, especially on Small Business Saturday. American Express is spotlighting individual businesses participating in this initiative. For example, in Closter, a festive shopping event will take place at the Closter Senior Center featuring local vendors. Fair Lawn residents can enjoy various Small Business Saturday events, including free tote bag giveaways and holiday pop-up shops showcasing local talents. In addition to these events, several communities, such as Englewood and Hopatcong, are hosting unique markets to engage shoppers and highlight local offerings, demonstrating a collective effort to support small businesses.
Each North Jersey town is embracing Small Business Saturday with distinctive events and activities aimed at attracting shoppers. Montclair’s Wellmont Arts Plaza will host a special event full of kids’ crafts and celebrity guests like Santa, while Nutley will encourage local shopping through an annual egg hunt filled with deals hidden in plastic eggs. South Orange will feature a street fair aligned with the holiday spirit, including opportunities for local artisans and craftspeople to showcase their work. Additionally, the Montclair Flea Holiday Market will occupy the Lackawanna Terminal, fostering a space for local vendors and artisans to connect with the community.
The efforts to revitalize local economies through such events and initiatives not only highlight the inherent value of small businesses but also stress their importance in enhancing community identity and fostering connection. In a time when many consumers are drawn to large retail chains for convenience and pricing, the charm and unique offerings of local businesses provide a compelling alternative. This holiday season, as shoppers navigate various purchasing options ranging from online giants to local stores, there’s a vital opportunity to make a difference by choosing to support small businesses, ultimately contributing to the growth and sustainability of local economies in New Jersey.
