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Mom And Pop Shops Hope For Big Profits On Small Business Saturday

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LOS ANGELES (CBS/AP) — Small business owners Saturday, hoping to reel in holiday shoppers, promoted the second annual Small Business Saturday in Los Angeles and 14 other U.S. cities.

American Express launched the nationwide shopping event in 2010 to boost revenues and the economy.

It takes place the day after Black Friday, the traditional start of the holiday shopping season. It is intended to encourage shoppers to patronize independent local businesses.

Last year the effort helped businesses pull in an extra 28 percent in sales.

Promotions were also being held Saturday in 14 other cities including New York, Boston, Philadelphia, Miami and Detroit.

An estimated 89 million consumers nationwide had said they planned to shop small this weekend.

(TM and © Copyright 2011 CBS Local Media, a division of CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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