How To Keep Up to 67% of Money Local
It’s the tenth anniversary of Small Business Saturday this November 30th.
This newer holiday shopping tradition and trend to Shop Small® was started by American Express in an effort to keep more holiday dollars in local communities.
As shoppers hit their stride on holiday shopping, here is how to keep up to 67% of money local.
In a study of American businesses with less than 100 employees, commissioned by American Express, it was discovered that approximately 67 cents of every dollar spent locally stays in the community.
This really makes a huge impact on the health, stability, and growth of a community. And it isn’t hard to help out.
As the holidays approach, consumers are encouraged to contribute to the success of small businesses on this special day of November 30.
In addition to that concerted effort, “shopping small” is something everyone can do on a regular basis. Whenever you shop at a small, independent store, get your coffee at the local coffee shop or take a class offered near your home, you’re contributing.
Here are 7 suggestions to shop local:
1. Shop with independent consultants or direct salespeople. Many companies offer generous deals for the holidays so their reps can make more sales before the end of the year. They often offer bundles of items at a good percentage off the normal price compared to buying the items individually.
2. Attend vendor and craft fairs. Especially check to see what specials or clearance items are being offered. Maybe the items are simply a discontinued scent or pattern. You can save a bundle this way while supporting local vendors and crafters.
3. Buy a local experience. It could be anything from savoring a Saturday evening cook and dine session with a chef to getting fit at a weekly yoga class. Experiences make wonderful gifts.
4. Select gifts from a local artisan. Art comes in countless forms. When we think of art, we often picture paintings, drawings or sculptures. Of course, shop those too! But think beyond traditional art to people who make personalized shirts, specialty tea blends, gourmet baked goods and more. Not only will you get a quality product to make your own season bright, you’ll be making their Christmas a little merrier as well.
5. Order the components for your holiday meals from locally-owned restaurants. Whether you need a single delicious pie or an entire feast, you can get some of the most flavorful food from independent restaurants. As you choose your restaurateur, remember that not all of them have a regular store-front restaurant. Some operate a food truck or even do catering from their homes.
6. Engage a local service. Countless Americans own their own business offering services in every sector. You can have your home cleaned, your car serviced, your computer repaired, and even your dog walked. These everyday types of services may not be front-of-mind as holiday gifts but meeting the need of a family member, friend or neighbor is a gift that will be truly appreciated.
7. Give and shop. Nearly every community has a second hand or thrift shop that is locally owned and operated. It might be run by a civic or religious organization or a family with a passion to help others. Some are for-profit (such as consignment shops) and some are non-profit. You can help these small businesses stay in business by both shopping their store and giving them items you don’t need. Many shops can usually use volunteers to help serve the community as well.