Around half of Brits plan to spend their money with small and local businesses in the wake of the coronavirus pandemic, a major study has revealed.
The research, published by British futurist Andrew Grill in collaboration with Vistaprint, suggests that the high street may return to its former glory over the next five years.
According to the poll of 2,000 adults, more than one in two (51 per cent) say they would now rather shop at local and small businesses than nationwide chains where the option is available.
The study also reveals that over a third of adults spent more money with small businesses during the lockdown, and a similar number will continue to primarily shop with small and local businesses – even if it means spending more.
A further 63 per cent of participants said they are keen to support the local high street and play an active part in helping independent businesses recover.
This is especially true among young people aged 18 to 34-years-old, with around half of Gen Z and approximately four in 10 millennials preferring to shop local.
Commenting on the findings, Mr Grill says a focus on local retail means the high street could return to a “more traditional mix” of independents shops rather than national chains.
“Localised and more personal options will become essential to allow small businesses to compete on a more even footing with their national counterparts, as consumers will expect to deal with their local businesses in a more digital way,” he said.
“The survey highlighted that younger people are discovering the benefits of shopping local, and this will lead the local revival, as those millennials, Gen Z and soon Gen Alpha will experience the benefits of shopping local and will in turn, tell their friends via social media in ways not seen before.”
The most popular independent businesses for Brits included butchers, bakeries, coffee shops, small corner shops and greengrocers.