October 21, 2017

Survey discovers consumers support for small businesses

A recent survey conducted by Liberis, who provide small business loans, polled over 200 consumers for the reasons why they shop small and found that 8 out of 10 consumers are planning to use more independent businesses this year. The survey revealed that 41 per cent shop at small businesses at least once a week and look to support local business and boost economy. The findings showed how an increasing number of consumers are turning away from larger stores to encourage growth locally and highlighting how SME’s are continuing to drive consumer spend.

The superior customer service in small businesses hasn’t gone unnoticed. 51 per cent of those polled said there is a significant difference in the customer service offered by small businesses compared to larger stores. And 27 per cent said that customer service is extremely important to them allowing smaller businesses the opportunity to build stronger relationships with their clienteles.

Consumers were also asked whether shopping small has its downsides. The main disadvantages highlighted in the poll were a limited selection of products and smaller stores are often thought of as more expensive. However the overall data supports consumers will shop locally or independently to purchase unique products and for better valued service. Here are the key outcomes to consider for any small business that wants to be successful.