Why championing small businesses helps local communities thrive

Britain’s independent retailers are more than shopfronts — they’re crucial contributors to a winning high street experience, bringing vibrancy, variety, and community spirit to the neighbourhoods they serve. These local businesses do more than meet basic consumer needs, they have a far greater significance to our everyday lives.

This was reaffirmed by research conducted by American Express this year, finding that the presence of independent retailers makes for a ‘great’ high street in the eyes of consumers. Our research told us that the majority of shoppers prize variety most highly when it comes to their overall high street experience. While this variety can be driven by retailers large and small, over half (54%) of shoppers believe that independent shops are key to a winning experience.

We also found, in separate research conducted in conjunction with the Small Business Saturday campaign, that 49% of consumers believe small businesses give their local high street a sense of identity, whilst 45% said they made them more vibrant. We know that consumers understand the importance of supporting independent retailers; with three fifths (62%) recognising their value in boosting the local economy.

What fuels consumer support for independent retailers?

Today’s consumers are looking beyond the transaction and, according to our research, they are also keen to support businesses where they feel known. Almost half (49%) of shoppers also told us that small retailers offer great customer service, whilst over a quarter (27%) said good customer service in-store boosts their loyalty to the retailer. Shoppers appreciate the familiarity they have with small retailers in their local area, with a quarter saying they have a friendly relationship with the ones they visit regularly nearby.

This means that the personal, friendly service independent retailers provide is key to them winning the repeat custom, loyalty and encouraging positive word of mouth referrals and recommendations from their customers. 

Shop Small: Our commitment to backing small businesses

American Express has a long history of championing the high street through its Shop Small campaign and is proud to be the founder and principal supporter of Small Business Saturday, a key moment every year to highlight the valuable contribution these businesses make. 

This year, we’re taking our support even further through Champion Small, which calls on our Cardmembers to show appreciation for their favourite local businesses by nominating them for a £10,000 business grant. Plus, when they submit a nomination, Cardmembers will also be entered into a prize draw to win a £1,000 statement credit. 

When people support small businesses, they are investing in more than just a store; they’re investing in community identity. With three-quarters (73%) of consumers saying the high street will still be a big part of their lives in ten years, it’s clear that small, independent retailers are essential to keeping these spaces engaging and relevant into the future. This is why we’re dedicated to backing them, helping these small businesses continue their role in energising Britain’s high streets for years to come.

Discover more about the American Express Champion Small initiative