Why Shopping Small Has Big Impact
Shop Small. You see the signs every November in local store windows and beyond reminding you of the importance of supporting your local community. This grassroots effort began with American Express back in 2010 as a way to infuse dollars into local communities as we began to rebuild in a post-recession economy.
By 2012, all 50 states began to participate in this worthwhile initiative. It’s estimated that during the first nine years alone, customers have spent over $85 billion at independent retailers and restaurants. That’s billion with a capital B!
In 2018, over 7,200 individuals and local business organizations rallied neighborhoods across the country to get out and shop small. The day has grown into an annual holiday shopping tradition and the Chambers of Commerce in Brevard County have proudly been a part of these many celebrations.
According to the Small Business Economic Impact Study from American Express, consumers’ impact at the local level during the all important holiday season is staggering. According to the study, “an average of two-thirds of every dollar ($0.67) spent at small businesses in the U.S. stays in the local community. Every dollar spent at small businesses creates an additional 50 cents in local business activity as a result of employee spending and businesses purchasing local goods and services.”
Essentially, when you infuse your money locally, these businesses then turn around and spend them locally. It’s the perfect recipe for a symbiotic relationship between consumer and community.
Furthermore, according to the fourth quarter 2017 MetLife & U.S. Chamber of Commerce Small Business Index, 55% of retailers report that their overall profit hinges on the holiday season. As we head into the season, we feel reinvigorated in the spirit of giving. Charities aside, I think it’s most important for us to come together as a community and focus our dollars locally. According to the Business Alliance for Local Living Economies, for every $10 million spent locally, 57 new jobs are created at local businesses.
Let’s keep our money in Brevard this holiday season and spur job growth together. Shop local!
Jennifer Sugarman, president and CEO of the Cocoa Beach Regional Chamber of Commerce, is a busy working mom to son, Emmett. She formed the Cocoa Beach Chamber’s Young Professionals Group in 2016, currently serves on the board for United Way of Brevard and is an active member in Brevard County’s business community.
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