A good majority of Brits likes to support small businesses all the year round, shows a recent survey, suggesting affection for the UK’s small businesses remains strong.
According to a recent from American Express based on the survey of 2,000 adults, two-thirds (63 per cent) of consumers believe it is important to support small independent businesses all year round, and not just during seasonal peaks like Small Business Saturday, which in 2024 saw a collective £634m spent in-store and online.
Consumers highlighted various reasons why they would continue shopping small, including how these businesses boost the appeal of their local high street (53 per cent); the personalised experience they enjoy when shopping (50 per cent); and a desire to support their local community (43 per cent).
Brits will be taking an increasingly savvy approach to their spending, the research found.
Half (50 per cent) of all respondents say they will buy from alternative retailers if they feel they can get a better deal elsewhere, with a third (33 per cent) stating they would be encouraged to do so by specific offers.
Shoppers plan to lean into ways of achieving greater value for money this year, compared to last; buying pre-loved items, maximising seasonal sales, and using payment cards that offer rewards and points on their purchases were among the top ranked tactics.
Furthermore, Gen Z and Millennial shoppers ranked as the most thorough when it comes to their research before spending, particularly if planning to purchase big ticket items like furniture. Almost three quarters (73 per cent) of this age group said they either always or sometimes seek recommendations in advance.
Dan Edelman, UK general manager, merchant services at American Express, said, “The one guarantee with retail is that it never stands still, and it’s the retailers who best meet ever-evolving customer expectations that will succeed.
"Our research identifies some distinct priorities that are likely to influence consumer spending behaviour in the months ahead.
“For small businesses, it’s hugely positive to see continued recognition of, and affinity for, shopping small highlighted by the research.
"Small businesses pride themselves on the unique experiences and service they offer, something that clearly appeals to consumers.”
