According to an American Express survey, half of Australians respondents said they felt compelled to support their local economies and 48% said they were buying more local goods than a year ago. This sentiment is particularly strong in the food, homewares and skincare sectors.
The survey also asked Australians what they were looking for in a brand. “Trustworthy” was the top answer with 67%, followed by “responsible” with 52%, “ethical” with 35% and “environmentally friendly” with 33%.
“There has been a shift in spending with more consumers searching for meaningfulness from their purchases,” said Melbourne-based social researcher Jeff Gilling. “These consumers can more readily find what they’re looking for in a local retailer.”
According to Jason Fryer, Head of Small Businesses Services at American Express, “people are looking to increase their sense of community and belonging.”
“This provides a fantastic opportunity for local retailers and suppliers to show customers how much more rewarding face-to-face shopping can be,” he added.
Small businesses should take the time to get to know their costumers individually and ask for their feedback, they should investigate how they can contribute to their local communities and should develop incentives to encourage customers to return.
“Australians may be thinking globally, but they are increasingly shopping locally,” stated Jason Fryer.
Photo by Rudakshra