Newly released research from Westpac suggests that the majority of Aussies consider themselves to be loyal supporters of their local small businesses, and that nearly half of us have increased our spending at such businesses over the last 12 months.
With Aussie patriotism economically and emotionally driven, the second annual Westpac Australia Day Index found that consumers are especially loyal to their local grocery stores (39 per cent) and pharmacies (37 per cent), followed by restaurants (21 per cent), bakeries (20 per cent) and butchers (20 per cent).
“It’s great to see nine in 10 Australians are loyal to small business and nearly half (45 per cent) are spending more with local suppliers than 12 months ago,” Gai McGrath, General Manager Retail Banking, Westpac said. “We hope this support continues, especially in the lead up to Australia Day.”
Westpac’s survey, which involved 1,035 Australians and was conducted in late November last year, found that 71 per cent of Australians buy locally as they believe it supports their community, while 68 per cent would feel like they had lost part of their local community if a small business closed down in their area.
In addition to shopping with them, the report found that 50 per cent of Aussies support their local businesses by recommending them to friends, family and colleagues. Further findings from the 2014 Westpac Australia Day Index include:
▪ 49 per cent of Australians believe buying from local, Australian businesses is the most important thing they can do to support the economy.
▪ 58 per cent of Australians believe small business is the backbone of the Australian economy.
▪ Nearly half (45%) of Australians are spending more with local businesses than 12 months ago.
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