PHILADELPHIA (KYW Newsradio) — It’s Small Business Saturday and store owners are slashing prices to encourage more customers to buy their goods.
Despite the growing popularity of online shopping, a cluster of businesses in Olney are hoping for a big turnout.
Justin Lee has experienced the shift to online retail firsthand. He’s owned Fern Rock Hardware at North 5th Street and West Champlost Avenue for 30 years now and says business has been changing on and off because of the online market — “You know, they’re taking my customers.”
Although Lee has been the owner for three decades, the shop has been open since 1929.
Lee says the in-person shopping experience is more personal for the customer, and on Saturday, he’s offering a 10% discount.
“We can take care of them in person — so whatever they want. And if I don’t have it, I can ask them to give me some more time so I can get it for you,” Lee said.
Research suggests younger generations, like Gen Zers and millennials, plan to take advantage of Saturday’s deals.
According to Bankrate Senior Industry Analyst Ted Rossman, about 59% of people in those age groups plan to buy something, versus 46% of Gen X and 40% of boomers.
“This shows that in-person retail is not dead. I mean, not by any means,” he said.