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Did American Express dropping Small Business Saturday credit hurt sales?

Posted at 11:06 PM, Nov 28, 2015
and last updated 2015-11-28 23:17:48-05

RICHMOND, Va. -- Millions of shoppers across the U.S. participated in Small Business Saturday, the annual shopping day in which the focus shifts from major corporations to locally owned shops.

Even President Obama got in on the action shopping at a local DC book store.

READ NOW: The Obamas reveal 2015 Small Business Saturday book 

"We live in the area and like to support our local retailers," Susan Robertson said.

Monkees

Shoppers at Monkees

Robertson told CBS 6 she came out to Monkees, a woman's clothing store, because of the promotion surrounding the day.

"I feel like it definitely attracts a lot of people," Ethan Moore, a sales associate, said.

Moore said Saturday sales were some of the highest the store had seen all year. However, not everyone was breaking records.

Jim Compton, President of J. Emerson Fine Wines and Cheese.

Jim Compton, President of J. Emerson Fine Wines and Cheese.

"I think we were down just a little bit," said Jim Compton, President of J. Emerson Fine Wines and Cheese.

Compton put the blame on American Express which is not offering a credit to customers like previous years. He attempted his own $5 rebate program.

"Not the same effect that it would have had, had  American Express had given a rebate," Compton said.

Compton said he day is a great to promote small businesses, which in the era of online sales, still thrive.

"You can't trade this experience for an online experience," Compton explained.

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Compton and WTVR CBS 6 reporter Joe St. George