‘Shoppers rallying around small businesses amid tough times’

Britons are rallying around small independent retailers as the economy comes under cost-of-living pressure, says a recent analysis by American Express.

According to the research conducted by Opinium on behalf of American Express, over half (52 percent) of small businesses believe customers are choosing to shop with them even more to extend support during the current challenging trading environment, brought about by a range of cost and supply chain pressures.

The report further adds that more than half (55 percent) of small businesses report seeing a rise in new customers purchasing from their business over the last six months. 

When it comes to the future, two-thirds (66 percent) of small business respondents say they are expecting sales to grow over the next year, with over a third (35 percent) stating they are optimistic about prospects for their business.

“After the many challenges of the last few years, it’s heartening to see that customer support for the nation’s valuable small businesses remains strong.

“We’re proud to champion these businesses, which is why we’re encouraging our Cardmembers to show their appreciation by shopping locally with the return of Shop Small this month, available at more locations than ever before,” reports quoted Dan Edelman, vice president and general manager, UK Merchant Services at American Express, as saying.

Michelle Ovens, Director of Small Business Saturday UK, adds, “Such optimism shown towards small businesses is fantastic to see, especially as we navigate through a challenging time when they need our support more than ever.”

“Choosing to back campaigns such as Shop Small and Small Business Saturday is an excellent way to get behind our nation’s independents and give them the recognition they deserve.”