Even as major retailers like Costco, Target and Walmart compete for shoppers’ money as the year-end holidays approach, small businesses may be poised for a big season thanks in no small part to millennials and Generation Z.
A survey of American adults conducted by Bankrate in the weeks leading up to the biggest shopping weekend of the year, which started with Black Friday on Nov. 24, shows consumers overwhelmingly plan to support small and independent businesses. The proportion of young people planning to shop at such businesses was especially high.
Out of a sample of more than 2,300 people, 72% said they plan to patronize mom–and–pop stores this holiday shopping season, up from 65% last year.
Boundless Adventures, an aerial adventure course with locations in Purchase, New York; Berlin, Massachusetts; and Bristol, Wisconsin, is one of the beneficiaries of consumers’ largess. “We’re having a good season,” owner Lorrie Funtleyder said in a phone interview. “Holiday ticket sales are up about 40% versus last year.”
Nationwide sales figures for the full weekend aren’t available yet. But 56% of respondents said they planned to shop on Black Friday, while 61% said they plan to shop on Small Business Saturday, Bankrate’s survey found.
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