In 2019, shoppers spending at small businesses instead of department stores increased by 3 million. $12.9 billion was spent during Small Business Saturday in 2020, down 65 percent from 2019 ($20 billion).
Why do consumers prefer small businesses?
Along with consistently good customer service, consumers value the “personalized experience, unique products or services and a sense of familiarity” that small businesses provide. Trust is paramount, as 95% of respondents said they are more likely to be loyal to a small business that they can rely on.
Do people prefer small business?
The Big Expectations, Small businesses: What Customers Want survey (PDF) indicates that 91% of respondents prefer small businesses when convenient, while 74% actively search for opportunities to support SMBs even when it is not convenient. …
Do people like supporting small businesses?
Majority of Consumers Shop Small to Keep Money Local
Our survey showed 57 percent of consumers say they shop local to keep money close to home, and 38 percent of consumers support local businesses to feel connected with their community.
Why do people prefer local businesses?
Here’s what people said local businesses offer:
More personalized service: 96 percent. Being trustworthy/treating me fairly: 91 percent. Customer service: 80 percent. Delivering quality work: 86 percent.
Why small businesses are better than corporations?
Small businesses are more nimble than larger businesses, and are better able to adapt as market conditions change. … With a small business, employees are more likely to be cross-trained; often, small companies do not have the resources or the need to hire dedicated employees for every business function.
Why do people shop small?
Small businesses create a sense of community
You’re much more likely to get to know a small business owner in your neighborhood. According to a study conducted by Trulia and noted in Forbes, the second most popular desire amongst urbanites is a stronger sense of community – number one being more local restaurants.
Why is it better to shop locally?
Increased Expertise—Shopping at a local store means you can get an expert opinion about the products that you’re purchasing. … Better Service—Local business owners do what they do because they are passionate about their products and typically take more time to get to know their customers.