Shoppers flocked to online retail sites during the holiday season, as internet sales expanded 15 percent year over year and Cyber Monday spending surpassed the single-day online shopping record. However, it wasn't only large companies that experienced significantly higher revenues.

According to the New York Times, online shoppers used to favor large retail websites, but many consumers are now purchasing more products from small businesses. The report said some shoppers have opted for smaller companies because they're unhappy with the trend of large enterprises eliminating local retailers by offering discounted prices, free shipping and mobile applications.

"We know there’s only so much that we can do to compete against them, so you end up relying on what hopefully becomes an emotional or personal connection with the retailer online," Lacy Simons, owner of Hello Hello Books in Maine, told the source.

Michael Walden, an economics professor at North Carolina State University, said many Americans are supporting small businesses with online purchases, even if the retailer isn't located in their local region. The report said large ecommerce businesses experienced a 19 percent year-over-year sales increase this past holiday season, while small business online sales rose 7 percent.

According to a Capital One survey, 29 percent of small businesses have a website capable of selling products and services online.