As Blended Sense is a startup and community-based business that relies on local support, the idea of shopping locally is one that hits close to home. Local businesses have a steep challenge from the get-go: to compete with larger, household-name brands that have already established a long-term audience. This is something that we experience ourselves, and so we have empathy for the small business owners of the world.
There are some serious benefits of nurturing business in the local economy, including (but not limited to): boosting employment rates and discretionary income, tax income increases for local governments, and a loyal customer base. That’s why we want to address the importance of shopping local and highlight why it’s vital for all of us to start shopping small whenever, and wherever we can. Let’s #takebacklocal in 2020!
When you shop local, you’re affecting the local economy in a positive way because you’re investing in it. Simply put: money spent locally is re-spent locally. Though a small purchase may seem trivial in the grand scheme of things, you’re still contributing towards the creation of local jobs with decent wages, less reliability on imports, and an increase of self-sufficiency in the area.
According to Fundera, $68 for every $100 stays in the community when spent at a local business. When spending the same amount at a non-local business, such as a national chain, only $43 stays in your community.
Shopping small is a win-win for the business owners of the neighborhood as well as the residents. Why not make a few changes in your spending habits to help out? Acts such as purchasing groceries from a community farmer’s market, buying seasonal clothes from the local boutique, or sipping coffee at the neighborhood coffee shop mean that you’re doing your part to put money back into the economy that (in)directly supports you. When there’s a better promise of economic growth - something you do not get with retail chains - there’s really no losing here.
Another reason it’s so important to shop local is because you are investing in entrepreneurship.
Take our hometown: Austin, Texas. There was a recorded number of 44,163 small businesses in 2013 alone, with that number surely on the rise as consumer trends have swayed to favor smaller, D2C businesses over their corporate competitors. When an event such as the cancellation of SXSW 2020 happens, these businesses take a serious hit in the income department. Considering many cities are built on the foundations of entrepreneurship, it’s imperative that the locals do their part to sustain that culture.
So, why buy into this? Because your local small business owner is far more likely to curate their products to fit the needs of the community than a chain store would. One of the top reasons that people shop local in the first place is due in large part to unique product selection. Product diversity is meaningful because it creates more options, therefore putting choice into the consumer’s hands. In other words, you’re going to have a much better shopping experience because your needs are actually taken into consideration.
Something else to consider is that local businesses are consistently incentivized to fortify other local businesses. If you’re a new business owner or setting out on your own journey of entrepreneurship, you’ll soon realize how supportive your hometown SMBs can be during those fledgling years. So when you can, take active steps to contribute to this beautiful cycle of businesses supporting businesses - you’ll be so happy you did.
Let’s call this “local flavor”.
When you decide to shop local, you are taking a big step towards nurturing the community that you live in. Supporting SMBs gives you an opportunity to network with local business owners and make lasting connections. After all, they are your neighbors!
Think long-term here for a minute. The ILSR (Institute of Local Self-Reliance) puts it this way: “Locally owned businesses build strong communities by sustaining vibrant town centers, linking neighbors in a web of economic & social relationships, and contributing to local causes”.
The unique character of your community is defined in large part by local businesses. This is a bit along the lines of “you are the company you keep”. Small business owners contribute to the experiences, home-making, economy, community welfare, and environment of their hometowns. Making small purchases around town will actually help to preserve the area’s self-image and allow it to continue growing into a vibrant, self-sustaining community. Yes, that means that a purchase at a shop on South Congress is helping to #keepaustinweird
So next time you’re about to run your errands, grab a host gift, or stock up on groceries - considering shopping small! You’ll feel better about your conscious buying decisions, and your community will thank you for it.
The Blended Sense business model generates an ecosystem of local support that stimulates both the small business and the creative economy. We invite you to schedule a demo with us in order to learn more about what we do, and how we can help YOUR business grow!
* We want to take this time to ask you to download & share the below template on your IG stories! Tag your favorite local brands to show your support and help us in our initiative to #takebacklocal *
