SHOP AROUND THE BLOCK
The many benefits of buying locally
Buying locally is a great way for consumers to find the products and services they’re looking for and help their local economy. The small businesses in your community may be owned by your next-door neighbor, who relies on fellow townspeople to keep the business going strong.
Shopping at local stores is not only beneficial for local business owners, but buying locally benefits consumers and members of the community in a number of ways. Here are some of the upsides of shopping close to home.
BUYING LOCALLY CREATES JOBS
The number of unemployed men and women has gradually declined in recent years, but those figures are still high in many communities. Buying locally creates jobs in your community, potentially creating a job for you or a friend or family member.
BUYING LOCALLY HELPS THE ENVIRONMENT
Buying within your community reduces the amount of fuel you are likely to use for a weekend shopping trip, while also reducing pollution. In addition, many local store owners use local materials and ingredients, reducing the amount of fuel consumed to get products into the store.
BUYING LOCALLY CREATES A MORE CLOSELY KNIT COMMUNITY
Juggling a career and family can make it hard for men and women to get to know their neighbors and other members of their community. Buying locally creates an opportunity to strengthen the bond with your neighbors, creating a close-knit community in which residents may feel safer and more comfortable.
BUYING LOCALLY IS MORE CONVENIENT
Convenience is paramount to many consumers, and shopping at locally owned businesses saves both time and money. Driving to a faraway mall or shopping center or paying costly online shipping fees is not nearly as quick or convenient as shopping in your community, where you can purchase and take home items on the same day without depleting the fuel in your gas tank or paying for shipping.
BUYING LOCALLY BENEFITS THE LOCAL ECONOMY
A few years ago, the consultancy Civic Economics was commissioned by Chicago’s Andersonville Chamber of Commerce to examine the economic impact of 10 local businesses against that of chain businesses. The study found that of every $100 spent at local businesses, $68 remained in the local economy, while only $43 of every $100 spent at chain stores remained in the local economy. That is a significant boost to your local economy, and all it requires is shopping at local retailers.
BUYING LOCALLY CAN INCREASE YOUR PROPERTY VALUE
Homeowners might be able to increase the value of their homes by buying locally. A joint study from the independent We Stand and Civic Economics found that cities with a strong centralized small-business district had a 54 percent greater increase in property values than communities that did not have such a district. A more thriving local community, including a thriving shopping district, is no doubt attractive to prospective homebuyers.
The reasons for shopping locally are many. In addition to helping local business owners, consumers who shop locally are also helping themselves.