Will we keep our local spending habits after lockdown?
There’s no doubt that many of us have valued the care, attention and innovation shown by our local, independent businesses over the last year as they’ve adapted to the challenges of the pandemic. Forced to spend much of our time close to home, we’ve come to more fully appreciate what’s on our doorstep – and we’ve been spending more locally.
Research from Lansons and Opinium during 2020 concluded that our spending habits are unlikely to return to our pre-pandemic normal, with 39% of those interviewed spending more [in 2020] with local businesses.
“As the local community becomes the core focus for people during the crisis, we are seeing a shift in consumer attitudes and a buoying sense of community around our local businesses. During this period of slowing down, taking stock and reflecting on what really matters, many of us are realising that the experience of shopping small, supporting local businesses and at the same time being more sustainable is worth an extra few pounds.”
77% believed spending with local businesses will continue after the crisis and 34% believed it will become the new normal.
But will this last as life opens up?
Well, so far the trend seems to be holding firm. A study published in March 2021 by the Policy Institute at King’s College London and Ipsos MORI for BBC News, shows that 30% say they would do more of their shopping locally after lockdown restrictions are lifted compared to the year before the pandemic, coming third behind walking (38%) and talking to family members (32%).
The challenge now for many local shops and suppliers is to be able to operate profitably and see a long term future for their business as restrictions ease. Many commentators say it is foolish to believe that we will all flock back immediately to our pre-Covid levels of activity and spending.
But we can still consciously choose to spend as much as we can locally with our independent suppliers – whether that’s through home delivery, click and collect, turning up in person, or gifting through Myndy.
Local businesses are not just another shop or service, they’re people’s livelihoods and they’re what makes our neighbourhoods uniquely ours. To say we’ll shop more locally is one thing, to actually keep on doing it is another. Let’s make sure our best intentions last.
More from Myndy
Google My Business: Why it pays to claim and manage your Business Profile
Confused by what Google is doing with your business information? Time to take control and spruce up your Business Profile. It could also give you a head start on Myndy.
How to account for VAT on Myndy vouchers
When do you account for VAT – at the point you sell the voucher or when it is redeemed? It’s pretty straightforward but does depend on your business, your customer and what you are selling.
Calling all local, independent business owners! Why join Myndy?
Calling all local, independent business owners! Why join Myndy? Myndy is a new wishlist and digital gift voucher system for local, independent businesses only –