Founded to support local and independent businesses who have a hard time competing with large corporations on Black Friday or Cyber Monday, Statista's Felix Richter reports that Small Business Saturday drove an estimated $17.9 billion in spending at independent retailers and restaurants last year, according to the 2022 Small Business Saturday Consumer Insights Survey commissioned by American Express.

"This year, we know that small businesses need our support now more than ever as they navigate, retool and pivot from the effects of the coronavirus pandemic," the Small Business Administration wrote to underline the importance of the initiative.