A study of 2,000 adults revealed the revival of the high street could be underway – thanks to Gen Z and independent stores.
Young adults, aged 18 to 27, are more inclined to shop at independent retailers than any other age group, with a whopping 74% favouring them over chain stores.
They’re more willing to shell out extra for products sold by these boutiques with the most popular items they purchase from independent shops include clothing (29%), gifts (23%), and home decor or homewares (17%).
Charlotte Broadbent, UK general manager at Faire, the company behind the research, commented: “The independent retailers we work with tell us that it’s often their youngest shoppers who most value the uniqueness and personal touch that independent stores offer over larger retailers.”
She added: “The fact they’re also prepared to pay extra for products sold by independent stores shows just how strongly they feel and how optimistic we should be for the growth of the independent retail sector in years to come.”
In total, 56% of all those surveyed expressed a desire to shop more at independent stores than they currently do but the cost-of-living crisis is pushing them towards bigger chains.
However, 27% reported shopping at independent retailers more frequently than they did two years ago.
The perceived benefits of shopping at independent shops include boosting the local economy (55%), the range of unique items on sale, and better customer service (both 45%).
A whopping 82% of all adults surveyed believe their local high street needs a revival, according to research conducted by OnePoll. As pver six in 10 (63%) claim that “a lot” or “a fair amount” of shops in their local area have shut down over the past year.
Charlotte Broadbent from Faire commented: “The number of people who want to see local high streets thriving again is huge. We believe that supporting independent businesses is key to making this happen because they offer so many unique products and experiences that bigger retailers can’t.”