'Buy Local' Message Benefits Independent Businesses
Playthings Staff -- Gifts and Dec, 1/27/2011 9:53:09 AM
Minneapolis, MN - A national survey of independent businesses conducted by the Institute for Local Self-Reliance, a nonprofit research and educational organization, has found that businesses in communities with an active "buy local" campaign have experienced markedly stronger revenue growth compared to those located in areas without such a campaign.
The survey, conducted over an eight-day period in January 2011, gathered data from 2,768 independent businesses, including retailers, service providers, restaurants and others. Among independent retailers, which accounted for nearly half the respondents, the survey found that those areas with active "buy local" initiatives had a 5.2 percent increase in holiday sales, while those elsewhere reported an average gain of only 0.8 percent. Overall, places with a "buy local" initiative reported revenue growth of 5.6 percent on average in 2010, compared to 2.1 percent for those elsewhere.
Business owners in cities with active "buy local" campaigns reported a wide range of positive impacts on their business. Almost half reported that the campaign had brought new customers to their business and 55 percent said it had made existing customers more loyal. More than two-thirds said local media coverage of independent businesses had increased and 51 percent said that local government officials were now more aware and supportive of the needs of independent businesses.
"Independent Business Alliances and 'buy local' campaigns are becoming a basic tool for independent businesses to help differentiate themselves from their big-box and Internet competition by highlighting their meaningful connection to the community," said Kathleen McHugh, president of the American Specialty Toy Retailing Association. "Once consumers understand why supporting local business is important to their community, they connect it to why they live where they do."
The survey was conducted in partnership with dozens of national and local business organizations, including the American Booksellers Association, Alliance of Independent Media Stores, American Independent Business Alliance, American Specialty Toy Retailing Association, Business Alliance for Local Living Economies, National Bicycle Dealers Association and TriMega Purchasing Association.
"Buy local" campaigns run by Independent Business Alliances and Local First groups are now underway in about 140 cities nationwide.
To read the complete results of the survey, click here.
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