As of Tuesday, November 26, 2013
Idaho County merchants are preparing for the holiday season and many have Black Friday specials running.
These merchants rely on local support to keep their businesses up and running.
Why is shopping locally such a big deal? Idaho-Lew Economic Development Specialist Melisa Bryant has some answers to that question.
“Independently-owned retailers return more than three times as much money per dollar ... to the local economy.”
— Melisa Bryant
Ida-Lew Economic Development Specialist
“Multiple studies show locally-owned independent retailers return more than three times as much money per dollar of sales to the local economy than chain competitors,” she explained. “Even eating locally makes a difference: independent restaurants return twice as much per dollar of revenue to our local economy than chain restaurants.”
According to pre-holiday polls, the average U.S. family plans to spend $800 on Christmas presents.
“Let’s consider what kind of an impact spending just 10 percent of that — $80 — locally would have. If each local dollar spent creates $.68 of additional local economic activity, that adds up to a huge difference in creating local jobs and local wealth,” Bryant said.
“Bottom line, if you spend just 10 percent of your Christmas budget locally, you could contribute an additional $54 to local economic activity. If that $54 is spent locally, you can imagine how it is the gift that keeps on giving,” Bryant added. “So what is my advice for your shopping during the holidays? I encourage you to think of shopping locally as giving your community a Christmas present!”