Own Business Remain Attractive
Surprisingly, despite the current challenging conditions, many aspiring entrepreneurs still see the prospect of opening their own business as attractive. In Germany, for example, only 2% of people who had planned to start a company before Covid-19 now want to abandon those plans. A significant number, however, are putting them off until next year (40%). At the same time, many established, independent operators have called on their creativity and fighting spirit to adapt their business models to the new normal – such as with deliveries, take-away options, online shops as well as digital events and vouchers.
These offerings are popular for many consumers. In Germany, for instance, 50% of customers are willing to use restaurants’ pick-up and delivery services, which also lets them support hospitality businesses.
Growing Trust in Local Brands
But that’s not all – during the coronavirus pandemic, appreciation for local, independent enterprises and brands has been growing all over the globe. In Australia, for instance, 80% of consumers say their preference for local brands has increased, and customers in India also shop more frequently at local supermarkets (+25%), greengrocers (+28%) and Kiranas (+39%). Likewise, around 80% of Germans make the choice to support local suppliers and buy more regionally-sourced products (58%). Fully 85% intend to keep doing so post-pandemic. This is a clear sign that supporting local businesses ranks high on their list of priorities. Consumers in the USA and the United Kingdom are also demonstrating great loyalty to local retailers: 39% of Americans and 36% of Britons have started ordering food from independent, local restaurants more frequently during the coronavirus crisis than before the pandemic. And digital channels, that customers can use to communicate with restaurants and place their orders, are an ever more important part of that.