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<ul> <li> Gen Zs are an outlier in spending habits and perspectives: less emotionally attached to local businesses, but more willing to pay a premium for them <br/> </li> <li> Millennials are the most empathetic: most willing to pay a premium for local products, most forgiving of poor customer experience, and care most about sustainability <br/> </li> <li> Gen Xs tend to be driven by their desire to support the livelihoods of the local community <br/> </li> <li> Baby Boomers are the most loyal in supporting local businesses <br/> </li> </ul><b/> <br/> SINGAPORE - <a href="https://www.media-outreach.com/">Media OutReach</a> - 31 July 2023 - Singapore: Most Singaporeans are supportive of local businesses, with each generation showing their support differently, according to the fourth <i><b>Shop Small Research f ....
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Amex Shop Small back for the third year to continue supporting local businesses SINGAPORE, Aug. 1, 2022 /PRNewswire/ While businesses are optimistic in 2022, consumers are more cautious, revealing headwinds may be on the way for the second half of the year. This is accordingto the third Shop Small Research for Singapore conducted with 304 local business leaders in May 2022, which for the first time also included 510 consumers to understand their spending habits and sentiments. Almost three in four businesses (73%) expect annual revenue to recover to or exceed pre-pandemic levels, compared with only 57% of consumers who expect to resume or exceed pre-pandemic spending levels. This difference is also seen in their sentiments for the second half of 2022, where only 60% of consumers expect to be optimistic, confident or excited, compared to 79% of businesses. In fact, 65% of consumers are taking a more conservative spending approach due to rising costs and economic uncertainty - with Gen ....