This holiday, small retailers seem poised for a big boost.
Some 80% of consumers say they are likely to shop at a small business this holiday season, according to a survey released last week by American Express.
In addition, 70% of consumers agree they are more conscious about making sure that they shop at small businesses this year, compared to previous years.
These shoppers are not just being altruistic: 79% of those surveyed agreed that the best and most unique holiday gifts come from small businesses. And 75% of consumers agreed that “shopping in person at a small business brings them joy and drives excitement for the holidays.”
Another survey found that consumers don’t just want to shop at small businesses this year, they want to spend more money at them.
A Small Business Holiday Omnibus survey from Wells Fargo found that 74% of holiday shoppers say that they are willing to spend more to support a small business.
Of those who said they would spend more, nearly 78% said they’re willing to spend as much as 10% or more. The other 28% are willing to spend 25% or more to support a small business.
Shoppers hoping to support a small business this holiday season had a variety of reasons, Wells Fargo found:
– 64% said they wanted to support the local community
– 40% hoped to find more unique shopping options
– 39% said they found better customer service provided by small businesses.
Shoppers haven’t turned their back on large businesses, but they are looking to them for different items, Wells Fargo found. The top items shoppers prefer to buy at a small business included flowers, plants, or personalized gifts. For larger businesses, they wanted to buy food items, holiday outfits, and costumes.
The survey also found that if there’s no price difference, younger shoppers would prefer to shop online versus in-store. Older shoppers feel exactly the opposite: All things being equal, they prefer the in-store experience.
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