Young consumers discover new small businesses IRL, not just online. An American Express Shop Small Impact Study found that 90% of Gen Z and Millennials find new small businesses simply walking in their neighborhoods, compared to 80% who discover them through social media. And now that it’s time to holiday shop, with 85% of all consumers likely to “shop small,” an +11pt increase over the past decade. Small business owners are optimistic for the season, too, with 95% expecting strong holiday sales—up +12pts from last year. They also believe about 25% of their annual revenue will come from Small Business Saturday, highlighting the impact of young consumers spending in their local economies and the desire for more in-person connections. (Fast Company)
📊 YPulse data: 67% of 13-39-year-olds agree, “I like to buy things from smaller, less known brands”
