Consumers are choosing small businesses in final stretch before Christmas

Figures released this week show that more than half of consumers plan to support small businesses in the run up to Christmas. In a study from Paymentsense, in which 1,002 UK consumers were surveyed in December of this year, more than 28 per cent of consumers claimed they play to shop in small businesses regardless of location, where 23 per cent will do so locally.

Over a third of those surveyed (35 per cent) said they were supporting local retailers, coffee shops, restaurants and other businesses due to a concern about the decline of the high street.

Others believe that small businesses are important to the community (31 per cent), while more than a quarter said they support local businesses year-round. Nearly a fifth of respondents said they knew many of their local business owners, and wanted to support them during important trading times.

The research also found that consumers with higher incomes were more likely to support small businesses in the run-up to Christmas. Seven in 10 respondents earning over £75k annually said they would, compared with five in 10 for consumers earning between £35k and £49k, and four in 10 for those with incomes under £15k.

Survey results also suggested consumers are less concerned by slower service or higher prices when shopping locally. The study found that 38 per cent overlook these issues if the business is near their home.

Guy Moreve, CMO at Paymentsense, said: “There have been several supportive campaigns aimed at consumers which specifically promote buying from smaller, local businesses at Christmas. We're hoping our study is the first sign that these efforts are having a positive impact, and that consumers are rallying behind small businesses at this time of year.”

The research also indicated a growing consumer expectation for small businesses to take card payments. Compared to data gathered in December 2017, there has been a nine per cent increase in consumers reporting they would leave a small business if they were unable to pay by card. Additionally the study reported that if a small business does not accept card payments, 48 per cent of respondents would expect the owner to introduce card payment within three months.

More data and further reading can be found on Paymentsense's website, www.paymentsense.co.uk