US Consumers Say They Plan to Spend More at Locally Owned Stores

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In the Retail World: now 75% of consumers say they plan to shop at businesses whose values line up with their own, a study from Mastercard SpendingPulse shows.

Consumers say they will prefer to spend at local establishments and those owned by minorities and women, according to the survey. And just over 50% of those interviewed said they prefer no gift at all over receiving 1 from a retailer whose views differ from their own.

The study indicates that rapid change in shopping habits, fueled in part by this year’s global pandemic and unrest related to racial inequality, have staying power.

While it’s not unusual for younger generations of consumers to make a political statement with their shopping list, that trend is now widening to new demographics.

The chaos has also helped to fuel shoppers’ COVID migration toward e-Commerce.

This does not mean consumers will necessarily follow through when it’s time to open their wallets. This is the 1st time Mastercard SpendingPulse has asked about these issues.

Despite uncertainty related to the chaos, Mastercard projects that holiday spending will rise 2.4% over the holiday period.

The survey was carried out online with 2,017 US residents from 8-13 October

Have a healthy day, Keep the Faith!