The Benefits of Shopping Locally
Shopping small, locally based businesses is a mindset that’s gaining momentum. There’s now a Shop Small movement with American Express debuting Small Business Saturday, falling the day after Black Friday, in 2010.
It’s obvious that supporting our local businesses supports our community, but how?
The Benefits
For every dollar spent locally, 68 cents stays in your community, whereas for every dollar spent at a non-local (chain) store, just 43 cents stays within your community.
What that means is shopping at a locally owned small business generates almost four times as much economic benefit for your community than shopping at a chain retailer, including an increase in jobs.
Not only that, according to the Small Business Administration, about 63% of new jobs opportunities between 1995 and 2021 were created by small businesses.
You’re also likely to enjoy better customer service!
An easy way to support local businesses without spending money.
Whether you’re out of spending money or super committed to minimalism, you can still support your favorite small businesses without spending a cent. Here’s how:
Write Reviews
Word-of-mouth marketing is alive and well. In fact, 92% of consumers believe recommendations from friends and family over advertising, according to Nielsen.
Furthermore, 23% of online shoppers are influenced by social media recommendations, so taking to the time to write a Facebook review or telling your friend about a funky local shop is a great way to boost the local economy.
Are you a small business owner? Here’s how to request reviews on: Google | Facebook
Engage With Their Posts
The more people comment and share a business’ posts, the more the algorithm will promote them. And when you share a post, your family and friends will discover - and maybe even support - that business!
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