Gen Z Flock to Trending Indie Businesses on Social Media
New research from American Express reveals that Gen Z consumers are driving an emerging 'viral pilgrimage' economy, where social media discovery is translating directly into visits and spending with small, independent businesses.
The study found that four in five (80%) Gen Z consumers have visited an independent business after discovering it on social media, with the longest journey averaging 95 minutes.
Nearly two-thirds (62%) of Gen Z actively research businesses on social before deciding to visit, and more than half (53%) visit within a week of first seeing a business online.
The 'viral pilgrimage' trend is leading to increased footfall for small, independent businesses, with analysis from Retail Economics estimating that they now capture almost half (47%) of all social-influenced high street spending by Gen Z.