• Local business community

What are benefits to shopping local?

1 Answer, 0 Replies
Rachel Williams
Rachel Williams  replied:

One meaning of “shopping local” is shopping at independently owned local businesses rather than chain stores or big box retailers. 

Research shows that on average, the dollars from 48% of each purchase at a local independent business is re-circulated locally, compared to less than 14% percent at chain stores. This has a huge beneficial multiplier effect and means that independent retailers return more than 3x as much money per dollar of sales than chain competitors.  

Buying from locally owned businesses also means that tax revenue stays local and it gets reinvested in the community in schools, public safety and libraries or parks. This strengthens communities and leads to increases in local real estate prices. 

Shopping local can also result in a greater diversity of creative products since they are tied to local themes, events, teams, and resources. For example, if you want to buy T-shirts, memorabilia, or other items related to America’s horse harness racing’s premier annual event – the Little Brown Jug – then you’ll need to shop at an independent store located in the mid-western city of Delaware, Ohio and not some national chain. 

Fanbank works hard to be a champion for small and main street businesses and we recently launched shoplocaleveryday.com with free graphics, tools, and resources to help communities promote shopping local throughout the year. https://www.shoplocaleveryday.com