Liberis, who provide small business advance loans, wanted to find out what consumers’ attitudes are towards independent businesses so they surveyed over 200 people about their buying habits. The responses revealed that a large proportion are keen to up their spend with small businesses this year and beyond, with many overlooking price to make a conscious decision to shop small or using services from an independent provider.
Liberis has discovered that 8 out of 10 consumers included in the survey have planned on using independent businesses. Consumers have said that they are more likely to choose independent businesses over larger businesses. The research has also shown that 65% of consumers were aware of the greater expense that comes from shopping with independent businesses, however the responses indicate that the benefits outweigh the costs.
Nearly half of the consumers included in the research wanted to support their community and boost the economy when deciding where to buy their goods. 58% of the respondents suggested that they use grocery and convenience stores the most. The Older generation, 55-64 year olds, select these types of stores as their most used independent store. The second most used independent businesses were Clothing, Jewellery, books, music and gift retailers, with 45% of respondents using these types of businesses. Close behind at 44% is the is cafes, bars, pubs and eateries. It could be suggested by the research that consumers focus on spending their disposable income on leisure focused businesses.
The study found that the main reason consumers used independent businesses is because of convenience. Therefore, location could be key for securing some business. The data showed that almost 50% of the consumers involved in the study shop in order to support independent business. 51% of those polled have said that there is a difference between the customer service offered in smaller businesses as opposed to larger stores.