An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
American Express and TikTok Launch the #ShopSmall Accelerator to Help Small Businesses Reach New Audiences on Small Business Saturday®
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
American Express (NYSE: AXP) has launched the #ShopSmall Accelerator in partnership with TikTok, aimed at empowering small businesses to engage Gen Z shoppers. The initiative provides access to resources, tools, and a $100 TikTok advertising credit, effective from November 14, 2022. This program coincides with Small Business Saturday on November 26, 2022, part of a broader goal to stimulate $100 billion in consumer spending at small businesses by 2025. The collaboration also includes a dedicated
Positive
Launch of #ShopSmall Accelerator to support small businesses in digital marketing.
Partnership with TikTok enhances visibility for small businesses to Gen Z consumers.
Provides $100 advertising credit and resources to encourage small business engagement on TikTok.
Goal to stimulate $100 billion in consumer spending at small businesses from 2021 through 2025.
Negative
None.
The #ShopSmall Accelerator gives small businesses access to tools, advice, and resources to help them be more effective TikTok marketers, including a $100TikTok advertising credit offer.*
Throughout November, the @AmericanExpress TikTok account will support and share content featuring small businesses.
NEW YORK--(BUSINESS WIRE)--
American Express (NYSE: AXP) today announced that it has partnered with TikTok to launch the #ShopSmall Accelerator, a new program to help small business owners reach a new generation of shoppers on Small Business Saturday, which is on November 26, 2022, and runs throughout the holiday shopping season. The partnership with TikTok builds on the ongoing support American Express provides small businesses year-round and its goal to drive $100 billion in reported consumer spending at small businesses from 2021 through 2025.1
Lifestyle creators Sofia Bella @iamsofiabella (left) and Anna Sitar @annaxsitar (center), along with small business owner Brandon Blackwood @brandonblackwoodnyc (right), teach small business owners how to use TikTok as a search engine; leverage sounds, trends, hashtags and communities; and drive engagement with users. Courtesy of American Express
Starting November 14, the #ShopSmall Accelerator will include an offer for eligible small business owners to earn a $100TikTok advertising credit*. In addition, small business owners will be given access to tools and resources to think like TikTok creators, including a tutorial at AmericanExpress.com/ShopSmallAccelerator on how their businesses can stand out on the platform.
Lifestyle creators Anna Sitar@annaxsitar and Sofia Bella@iamsofiabella, along with small business owner Brandon Blackwood@brandonblackwoodnyc, will teach small business owners how to use TikTok as a search engine; leverage sounds, trends, hashtags and communities; and how to drive engagement with users. To help small businesses get discovered by new audiences, American Express has also partnered with musical artist Chlöe Bailey@chloebaileywashere to create a “Shop Small Soundtrack,” which TikTok users can add to their content.
“The #ShopSmall Accelerator will help give small merchants the tools they need to reach the next generation of consumers on TikTok, where our Shop Small Impact Study found that 67% of Gen Z users have shopped from a small business that was displayed on their For You Page” said Elizabeth Rutledge, Chief Marketing Officer, American Express. “Shopping small has a significant impact on helping local communities, with two-thirds of every dollar spent at small businesses staying within the local community. Last year, consumers reported spending more than $23B shopping small on Small Business Saturday, and we want to exceed that in 2022.”
"More and more American small businesses are turning to TikTok to take us inside their world in a fun authentic way, and as a result, they are reaching new customers, hiring more employees and growing their business. The real world impact is undeniable, with 44% of TikTok users saying that they discovered something on the platform and immediately went out to buy it, according to our Global Retail Path To Purchase Study," said Sofia Hernandez, Global Head of Business Marketing for TikTok. "This holiday season, the TikTok community is ready to #ShopSmall and support small businesses."
Based on data in the Small Business Economic Impact Study from American Express, if every Gen Z and Millennial shopper spent $10 at a small business on Small Business Saturday, it would support $2 billion in local economic activity throughout the US.2 The study also found that $0.68 of every dollar spent at a small business in the US stays in the local community and that every dollar spent at small businesses creates an additional $0.48 in local business activity as a result of employees and local businesses purchasing local goods and services. 63% of small business owners said they want to grow their Gen Z and Millennial customer base this holiday season, and 50% agreed that Small Business Saturday is more critical than ever for their business this holiday shopping season.
Small Business Saturday was created in 2010 to help small businesses and communities thrive. Since then, it has turned into a nationwide Shop Small movement that is celebrated annually and is critical for small businesses during the holiday shopping season.
American Express provides ongoing support to small businesses year-round through the Shop Small Resource Hub where small business owners have access to complimentary marketing supplies and resources; Amex Offers for Merchants for services ranging from technology to shipping solutions; a new, dedicated Small Business Saturday page fromBusiness Class, featuring insights, tips, and inspiration; and more.
U.S. consumers can find American Express accepting independent retailers across the nation through the Shop Small Map and Card Members can access special Amex Offers from Small Merchants on the Shop Small Offer Hubhere.
*New U.S.TikTok advertisers can enroll by December 24, 2022 to earn a $100TikTok promotional ad credit after purchasing $50+ in TikTok ads within 28 days of receiving the TikTok offer details e-mail. Terms apply. Learn more here.
November 26 is the 13th annual Small Business Saturday, proudly backed by American Express. Dedicated to supporting the diverse range of local businesses that create jobs, help boost the economy, and enhance neighborhoods around the country, Small Business Saturday was created by American Express in 2010 in response to small business owners’ most pressing need: getting more customers. Learn more at and connect with us on ShopSmall.com, instagram.com/ShopSmall, facebook.com/SmallBusinessSaturday
ABOUT SHOP SMALL
Shop Small is a year-round movement that supports small, independent businesses and calls attention to the valuable and distinct contributions they make to their communities and the economy. Shop Small celebrates small businesses ranging from retail stores and restaurants to fitness studios and salons, and everything in between. The Shop Small movement was spurred by the widespread participation in Small Business Saturday, a day founded in 2010 by American Express. This national holiday shopping tradition is dedicated to celebrating small businesses and driving more customers through their doors on the Saturday after Thanksgiving. November 26, 2022 marks the 13th annual Small Business Saturday, proudly backed by American Express. Learn more at and connect with us on ShopSmall.com, instagram.com/ShopSmall, https://facebook.com/SmallBusinessSaturday
ABOUT THE AMERICAN EXPRESS SHOP SMALL IMPACT STUDY
The American Express Shop Small Impact Study consisted of two studies conducted by Teneo on behalf of American Express. The consumer survey was an anonymous online survey conducted from September 26-28, 2022 among a sample of 1,008 adults 18 years of age and older. Consumer data is weighted by five variables: age, sex, geographic region, race and education to ensure reliable and accurate representation of the total U.S. population, 18 years of age and older based on U.S. Census data. The small business owner survey was conducted online among a sample of 506 small business owners/managers in the U.S. from September 26 – October 5, 2022. Respondent companies must conduct sales in a physical location in one of the following industries: arts/entertainment/recreation, retail trade, restaurant/bar/coffee shop/hotel/hospitality, or personal services.
ABOUT THE SMALL BUSINESS ECONOMIC IMPACT STUDY
The 2022 Small Business Economic Impact Study was conducted by Econsult Solutions, Inc. (ESI) on behalf of American Express. ESI calculated the share of national Gross Domestic Product (GDP), employment and employee compensation that small businesses with under 100 employees provide to the economy based on an analysis used by the U.S. Small Business Administration. ESI also estimated how much of each dollar spent at the average small business remains in their local community, and used input-output analysis across 100 representative U.S. counties to calculate the additional impact that is generated locally as the result of the spending of employees and the spending of the small business with local suppliers and service providers.
This release includes forward-looking statements, which are subject to risks and uncertainties. The forward-looking statements contain words such as “expect,” “estimate,” “goal,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,” and similar expressions. Actual results may differ from those set forth in the forward-looking statements due to a variety of factors, including those described in American Express’ filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. American Express undertakes no obligation to update or revise any forward-looking statements.
Source: American Express Company
Location: U.S.
___________________________
1 Based on spend as reported by consumers in surveys commissioned by American Express (not actual receipts or sales).
2 Based on projection of a one-time $10 per person spend by total US Gen Z and Millennial population and applied to the analysis of additional impacts outlined in the 2022 Small Business Economic Impact Study by ESI.
What is the #ShopSmall Accelerator program by AXP?
The #ShopSmall Accelerator is a program by American Express designed to help small businesses effectively market themselves on TikTok, providing resources, tools, and a $100 advertising credit.
When does the #ShopSmall Accelerator start?
The #ShopSmall Accelerator program starts on November 14, 2022.
What is the goal of American Express's #ShopSmall initiative?
The goal is to drive $100 billion in consumer spending at small businesses from 2021 to 2025.
How does the #ShopSmall Accelerator benefit small businesses?
It offers small businesses tools and resources to enhance their online marketing capabilities, particularly on TikTok.
When is Small Business Saturday in 2022?
Small Business Saturday occurs on November 26, 2022.
