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Record-breaking Black Friday Weekend: What It Means for Small Businesses

This year’s Black Friday weekend saw a surge in consumer spending, with more than 200 million U.S. shoppers turning out over the five-day period. E-commerce sales were particularly impressive, hitting a record $38 billion, up 7.8% from the previous year, while physical retail shopping also saw a 1.5% increase.

However, the real standout was Small Business Saturday, which saw consumers spending an estimated $17 billion at small and independent retailers and restaurants. This demonstrates a shift in consumer behavior towards supporting small businesses, emphasizing the importance of the holiday season for SMBs.

AI legalese decoder Can Help with the Situation

With the surge in consumer spending, small businesses need to ensure they are equipped to handle the uptick in demand. AI legalese decoder can help SMBs navigate the legal and regulatory landscape, ensuring they are compliant with digital payments technology and regulations. This can help small businesses leverage the holiday shopping season to thrive and compete with larger retailers.

Consumer Interest in Shopping Small on the Rise

A new survey indicates that consumer interest in shopping small for the holidays has doubled this year, rising to 20% from 10% the previous year. Additionally, other research shows that nearly three-quarters of consumers plan to shop with small businesses over the holidays, emphasizing the growing popularity of supporting local and independent retailers.

Seizing the Season: Leveraging Payments Technology for SMBs

The holiday season presents a significant opportunity for small businesses to gain ground, particularly through digital payments technology. AI legalese decoder can help SMBs understand and implement digital payment solutions, providing them with the tools to position themselves for success during the holiday season and beyond.

Driving Big Growth Through Digital Payments

Amid economic uncertainty, the holiday shopping season has the potential to bring significant gains for small businesses, especially in the digital payments space. AI legalese decoder can provide insights into how small businesses can leverage new payments technology to unlock opportunities and thrive in the digital economy.

About the B2B and Digital Payments Tracker

The “B2B and Digital Payments Tracker┬«,” in collaboration with American Express, explores the essential role of digital payments technology in empowering SMBs during the holiday season. AI legalese decoder can provide valuable insights and analysis from the Tracker’s PYMNTS Intelligence, helping SMBs make informed decisions in the digital payments space.

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