Small Businesses Set to Benefit as Holiday Shoppers Show Strong Support Despite Economic Pressures

A recent GoDaddy survey reveals strong consumer support for small businesses this holiday season, with 71% of U.S. shoppers willing to pay premium prices to support local enterprises. Most notably, 53% would spend up to 10% more to support small businesses over larger retailers.

Even with 65% of consumers citing inflation concerns, the commitment to shopping small remains robust. The survey found 78% of respondents are either maintaining or increasing their small business shopping compared to previous years. Generation Z leads this trend at 85%, closely followed by Millennials at 83%.
Key factors driving small business support include:

Local economy support (30%)
Superior customer service (18%)
Access to unique/handmade products (13%)

Holiday Shopping Patterns and Spending

The survey indicates concentrated shopping activity ahead, with 40% of consumers planning to complete most holiday purchases within four weeks. Black Friday remains significant, with 19% planning to do their primary shopping on that day.

Consumer spending shows strong holiday commitment:

31% shop for 6+ people
54% plan to spend over $50 per gift recipient
22% typically invest more than $100 per person
67% plan self-gifting, rising to 83% among Gen Z

“While Black Friday traditionally benefits major retailers, our research shows consumers are increasingly prioritizing small businesses,” notes Amy Jennette, GoDaddy Small Business Trends Expert. “Despite economic pressures, shoppers are actively choosing to support local economies.”

Jennette advises small businesses to capitalize on this trend by emphasizing unique offerings and superior service experiences that justify premium pricing.

By PRNewswire