Shoppers turn to small businesses during challenging economic landscape

Over half (52 percent) of small businesses are receiving “much-needed support” from customers as they choose to shop small to support them during the current challenging trading environment, according to new research from American Express.

The research, conducted by Opinium on behalf of American Express, also found that the support for small businesses is also being reflected in the number of new customers, as 55 percent of small independents have seen a rise in new customers purchasing from their business over the last six months.

This current customer support during tough times has resulted in 35 percent of small business leaders feeling optimistic about their future, with two-thirds (66 percent) adding that they expect sales to grow over the next year.

Dan Edelman, vice president and general manager, UK merchant services at American Express, said in a statement: “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.”

The research coincides with American Express’ ‘Shop Small’ campaign that returns this month, from June 20 to 26, which incentivises Cardmembers to spend at participating small and independent businesses across the UK.