New research from the American Express Shop Small campaign has revealed the top five independent sectors being boosted by Gen Z spending. The generation’s love of all things nostalgic and retro has boosted spending at vintage camera shops by 58% thanks to the craze for digital cameras from the 00s, while vintage clothing stores (+39%) and record shops (+23%) have also received a major boost from young shoppers, according to a survey of Gen Z spending preferences conducted by retail experts GlobalData.
Non-alcoholic drink spots and health wellness spots also made the list, thanks to Gen Z’s passion for matcha, bubble tea, and Pilates. This comes as socialising with friends was named as a key reason for visiting their local high streets by more than half (53%) of Gen Z (aged between 19-28), the highest out of all generations surveyed.
GlobalData conducted a survey of UK adult consumers asking for respondents’ purchasing frequency, usage and average spend in a range of businesses, and then calculated total sector spend estimates. They then analysed Gen Z responses to determine how this age cohort is boosting specific retail sectors compared to the wider population, through their heightened engagement and self-reported spending in these businesses. This data does not represent American Express Cardmember spending.
The Top 5 Independent Sectors Boosted by Gen Z Spending:
- Vintage Camera Shops (58.2%)
- Non-alcoholic Drink Spots (39.1%)
- Vintage Clothing Shops (38.6%)
- Health and Wellness Spots (25.1%)
- Record Shops (22.9%)
The research also highlights the top 10 independent high streets in the UK that appeal most to Gen Z shoppers. The ranking was based on factors like the number of independent stores serving Gen Z interests, the total count of independent shops, the street’s vibrancy, and its overall aesthetic appeal.
Bustling high streets from cities across the UK including London, Edinburgh and Manchester also feature in the list.
Top 10 Independent High Streets:
- Brighton (Trafalgar Street, Sydney Street, Kensington Gardens)
- Sheffield (Devonshire Street, Division Street & top of Cambridge Street)
- Manchester (Oldham Street)
- London (Coal Drops Yard & Stable Street)
- Birmingham (Gibb Street & Floodgate Street)
- London (Broadway Market)
- Edinburgh (Deanhaugh Street, Raeburn Place)
- Liverpool (Bold Street)
- Bristol (Gloucester Road)
- Leeds (Central Road, New Market Street, and part of Call Lane)
Dan Edelman, General Manager, Merchant Services at American Express, said: “Small businesses play a vital role in shaping vibrant communities, so it’s exciting to see younger shoppers driving this trend with their enthusiasm for distinctive, retro-inspired products and experiences. Through our Shop Small campaign and support of Small Business Saturday we’re proud to champion local high streets, where more small businesses than ever before accept American Express.”
Since 2021, the number of UK locations that accept American Express Cards has tripled. Amex is now accepted by more small businesses than ever before, meaning there are now even more places for Cardmembers to earn rewards on everyday spending.
The research is released ahead of this year’s Small Business Saturday on 6 December, of which American Express is founder and remains principal supporter in the UK. Shoppers can make a big difference to small businesses by getting out and supporting them, on Small Business Saturday and beyond. Last year, Small Business Saturday saw £634m spent in small businesses nationwide.
Michelle Ovens, Director of Small Business Saturday, said: “Small businesses bring character and individuality to their communities and to the whole nation, so it’s great to see young people celebrating that through their conscious shopping choices. We look forward to seeing this energy translate into support for their favourite independent businesses on Small Business Saturday this December and beyond.”
Matt Piner, Research Director at GlobalData, commented on the findings: “It’s wonderful to see Gen Z returning to the high street and frequently spending in our identified sectors. Spend among Gen Z shoppers is set to increase in the future as they climb the career ladder and grow their income, providing a great opportunity for businesses in these sectors.”
Small Business Saturday is the UK’s most successful small business campaign and engages millions of shoppers every year as well as benefitting from widespread support from Government, MPs, charities and local communities.
