American Express salutes small business with a glimpse into the future of retail

It’s been a decade since the start of Small Business Saturday. American Express is celebrating the milestone by offering a glimpse into the future of retail.

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The event is called “The Big Future of Shopping Small,” will be held in New York City and showcases what stores will look like in 2035.

American Express created a mini-Main Street where people can experience firsthand how technology and innovation is making shopping easier while also helping businesses.

FOX Business’ Cheryl Casone visited the vibrant space occupied by mom-and-pop shops and was able to sample some of the featured artificial intelligence. One example of the technology was found in a donut shop -- it helped customers decide which treat is right for them.

A wine shop uses augmented reality for a tasting. In a clothing shop, there's an augmented reality clothing rack and tech that can also sell clothes of the future. The shop sells garments made out of sustainable materials.

(FBN)

Actor and "Hamilton" creator Lin-Manuel Miranda partnered with the brand and helped kicked off the event with American Express Chief Marketing Officer Elizabeth Rutledge. He discussed why he became a small business owner and what it means to his community.

“American Express created Small Business Saturday 10 years ago in response to hearing from our small business customers during the economic recession that where they needed the most help was attracting new customers into their stores,” he said. “Ten years later we are so proud that Small Business Saturday has become part of the culture and a staple on the retail calendar, but we know that the challenges that small business owners face are different than ever before and that’s why we created this experience.”

Small Business Saturday takes place on Nov. 30. According to American Express, over time, Small Business Saturday spending has reached a reported estimate of $103 billion.