Gen Z Fuels Independent Retail Boom: Younger Shoppers Embrace Local Over Chains
The younger generation, specifically those aged 18 to 27, are leading a renaissance in independent retail. A recent study reveals that a whopping 74% of Gen Z shoppers prefer independent retailers over chain stores, showcasing a strong preference for unique products and a personalized shopping experience.
This trend extends beyond just preference. Gen Z shoppers are also willing to pay a premium for items from independent boutiques, particularly for clothing, gifts, and home décor. This demonstrates a deep commitment to supporting local businesses and a willingness to invest in quality and craftsmanship.
Charlotte Broadbent, UK general manager at Faire, the company that commissioned the research, sheds light on this phenomenon. “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 explains. “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.”
While the cost-of-living crisis might be pushing some consumers towards larger chains, the study reveals a widespread desire to shop more at independent stores. A remarkable 56% of respondents across all age groups expressed this sentiment. Interestingly, almost a third of shoppers report frequenting independent retailers more often now than they did just two years ago, highlighting the growing appeal of these local havens.
The benefits of shopping independently are clear. Respondents cite boosting the local economy (55%), the availability of unique items, and superior customer service (both 45%) as key draws. These factors emphasize the value that independent retailers bring to communities.
However, the study also reveals a pressing need for high street revitalization. Over six in 10 respondents claim that a significant number of shops in their local area have closed down over the past year. An overwhelming 82% believe that their local high streets require a revival, underscoring the need for support and revitalization.
To revive these struggling high streets, respondents advocate for a wider variety of shops (57%) and, crucially, more independent businesses (40%). Charlotte Broadbent of Faire reiterates the importance of supporting independent businesses, stating: “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.”
This research paints a hopeful picture for the future of independent retail, demonstrating Gen Z’s commitment to local businesses and their desire to see vibrant, thriving high streets. The unique products, personalized service, and community support offered by independent retailers are resonating strongly with the younger generation, creating a wave of optimism for the future of local commerce.
