Gen Z Flocks to Viral Indie Businesses
A new study from American Express reveals that Gen Z consumers are willing to travel long distances to visit independent businesses they discovered on social media. According to the 'Hype to High Street' report, over 90 minutes is not uncommon for a trip to a trending business. In fact, 80% of Gen Zers have made such journeys, with an average distance of 95 minutes out of their way.
The study found that social media content played a significant role in introducing these consumers to new businesses they may not have otherwise discovered. Nearly two-thirds (62%) actively research businesses on social before visiting, while 53% visit within a week of first seeing a business online. Furthermore, 61% return after their initial trip.
Gen Zers are not just making one-off visits either; they're willing to spend time queuing for trending products and experiences. On average, they've spent almost an hour (56 minutes) waiting in line. This trend is having a positive impact on local businesses, with analysis from Retail Economics estimating that independent shops now capture 47% of all social-influenced high street spending by Gen Z.
General manager at UK Merchant Services at American Express, Dan Edelman, comments: 'Our research points to a fast-growing 'scroll to store' trend led by Gen Z consumers.' He notes that this trend is translating directly into visits and spending with small, independent businesses. With their growing influence and spending power, Gen Z are showcasing new opportunities for businesses to boost revenue, build loyalty, and bring more people onto Britain's high streets.