A Retail Times’ sponsored post
By Dan Edelman, general manager, UK Merchant Services at American Express
Small, independent retailers play a huge role across the UK, bringing vibrancy and acting as the heartbeat of local communities. Research from American Express this year confirmed their importance, revealing that almost two-thirds of UK consumers visit their high street weekly and almost one in 10 visit every day, with independent retailers called out as one of the key elements that, in their eyes, make for a ‘great’ high street.
Independent retailers bring vibrancy to our high streets
Part of the appeal of independent retailers is that there is no ‘one type’: in Britain we’re fortunate to be home to a huge range, from corner to gift shops, boutiques to bookstores.
Our research told us that over two thirds (67%) of shoppers prize retail variety most highly when it comes to their overall high street experience. Furthermore, over half (54%) said local independent shops are key to delivering a great experience, while 52% referenced the importance of independent pubs and restaurants. Further research from this year, in conjunction with the Small Business Saturday campaign, also found that half (49%) of people say small businesses give their local area a sense of identity.
Crucially, these venues rely on continued support from the customers and communities they serve so they can continue to flourish.
What shoppers love about independent retailers
We know that consumers understand the importance of supporting independent retailers; with three fifths (62%) recognising their value in boosting the local economy.
For small businesses, every customer interaction is personal. Their passion and dedication shines through in the service they deliver, and that’s something shoppers really value – in fact, over a quarter (27%) of shoppers say good customer service in-store boosts their loyalty to the retailer, while half (49%) say small retailers offer great customer service. This bespoke, personal level of service is highlighted further by the fact that a quarter (25%) of respondents also say they are friendly with their local small business owner.
Backing small businesses through Champion Small
American Express has a long history of championing the high street through its Shop Small campaign and is proud to be the founder and principal supporter of Small Business Saturday, a key moment every year to showcase the valuable contribution these businesses make.
Every time customers shop small with independent retailers, they make an investment in the future of our communities. And their support for small businesses can take many forms. It could mean choosing to spend with them and helping boost their bottom line. It could also mean simply raising awareness of a particular small business by recommending them to family and friends.
This year, shoppers have a unique opportunity to show their appreciation for small businesses through Champion Small, a new American Express initiative that calls on Cardmembers to show independent retailers how much they are valued.
American Express merchants can encourage their customers to show their support by nominating their business for Champion Small, for a chance to win a £10,000 business grant that could make a huge difference in the future. Plus, when they submit a nomination, Cardmembers will also be entered into a prize draw to win a £1,000 statement credit.
Encouragingly, our research found that almost three quarters (73%) of consumers believe the high street will still be important to them in 10 years’ time – further proof, if needed, that small, independent retailers will play an integral role in these locations remaining relevant and vibrant in years to come.
Discover more about the American Express Champion Small initiative
