Consumers set to spend £4.4 billion with small businesses this Christmas

According to the latest research, British consumers are set to spend £4.4 billion with small businesses this Christmas.

One in five UK shoppers are set to purchase from small retailers over the festive period, with an average spend of £88 per person.

The research comes from the Direct Line for Business survey, which found that 90 per cent of consumers believe that supporting local businesses is imperative to ensure the future of small and medium-sized enterprises (SMEs) in the UK.

The study also found that 93 per cent of people find supporting local businesses ‘extremely important’, while nine in 10 people believe that local businesses define local character.

Over the Christmas period, consumers will spend an average of £140.4 million every day with small businesses. The British Retail Consortium expects the total spend this Christmas to be £82 billion, a slight increase on the £80 billion spend in 2018.

The 18-24 age group spends the highest amount per person at small businesses over the Christmas period, spending £110 on average. But it is the 45-54 age group that contributes the highest amount, spending £1.1 billion at small businesses.

Three-quarters of consumers believe that the service is better at small businesses, with 60 per cent stating that the quality of goods from small businesses is better than larger businesses.

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Posted in Blog, Economy, SMEs, SMEs / Business.