New research has revealed the UK’s top high streets for independent shops, with multiple London locations on the list.
American Express and GlobalData considered factors such as the quantity of independent shops, the street’s vibrancy, and its overall aesthetic appeal. The findings were revealed ahead of this year’s Small Business Saturday, which takes place on December 6.
American Express created the marketing initiative in 2010 in the US.
“Small businesses bring character and individuality to their communities and to the whole nation, so it’s great to see young people celebrating that through their conscious shopping choices,” Michelle Ovens, Director of Small Business Saturday, said.
The survey also measured Gen Z spending habits by comparing purchasing frequency, usage and average spend in different businesses to other age cohorts.
Here’s what the survey found:
Which London streets made the list?
Two London high streets, Coal Drops Yard and Stable Street, were ranked number four on the list, and Broadway Market was ranked number six.
Coal Drops Yard at night
Alamy Stock Photo
Top 10 Independent High Streets:
- Brighton (Trafalgar Street, Sydney Street, Kensington Gardens)
- Sheffield (Devonshire Street, Division Street & top of Cambridge Street)
- Manchester (Oldham Street)
- London (Coal Drops Yard & Stable Street)
- Birmingham (Gibb Street & Floodgate Street)
- London (Broadway Market)
- Edinburgh (Deanhaugh Street, Raeburn Place)
- Liverpool (Bold Street)
- Bristol (Gloucester Road)
- Leeds (Central Road, New Market Street, and part of Call Lane)
What else did the study find?
The survey also revealed the top five independent sectors being boosted by young adults’ spending, revealing Gen Z’s penchant for all thing vintage. These were:
- Vintage Camera Shops (58.2%)
- Non-alcoholic Drink Spots (39.1%)
- Vintage Clothing Shops (38.6%)
- Health and Wellness Spots (25.1%)
- Record Shops (22.9%)
Dan Edelman, General Manager of Merchant Services at American Express, said: “Small businesses play a vital role in shaping vibrant communities, so it’s exciting to see younger shoppers driving this trend with their enthusiasm for distinctive, retro-inspired products and experiences.”
The survey also revealed that Gen Z were more likely than any other generation to say that socialising was the main reason for visiting their local high streets. Over half (53%) of participants aged between 19-28 reported this to be true.
“It’s wonderful to see Gen Z returning to the high street and frequently spending in our identified sectors,” said Matt Piner, Research Director at GlobalData.
He added: “Spend among Gen Z shoppers is set to increase in the future as they climb the career ladder and grow their income, providing a great opportunity for businesses in these sectors.”
