How Buying Locally Strengthens The Economy?

Buy Local! We hear this phrase a lot these days, but what does it mean really?

Did you know that shopping locally at the neighborhood stores not only keeps your hard earned money within community, but it also makes a great economic impact. This phenomenon is called economic multiplier, which means that your money circulates through the local economy.

Shop Local, Buy Local campaigns have been on steady rise across the world giving inspiration to encourage customers to shop at their neighborhood stores. As more consumers are shopping local and more entrepreneurs are choosing to open local businesses, local shopping movement is gathering the momentum. Shop local helps small independent businesses to compete against big box chain stores that dominate the market.

A study reports that in a population of 7, 00,000, a 10 % shift in spending from big box chain stores to local businesses would generate 137 million dollars in a new economic activity. Spending locally brings a positive impact on our communities and offers a great number of benefits.

Think outside of the big box!

Going local doesn’t mean walling off the outside world, but it means nurturing the locally owned business in your neighborhood which serves to local customers. Buy Local campaigns support individual businesses in spreading a word about its benefits.

Shop local movement is about educating the consumers on the importance of shopping local. Today, the small stores in our neighborhood are going through tough times and facing challenges from the big box chain stores, online shopping websites and a tighter economy. If we think outside of big boxes and shop at locally owned stores, money will be reinvested within our community.

Shop Local and Buy Local is one of the best initiatives to encourage small business owners and you know this campaign is really creating the difference.  We can help strength our economy by shopping at local shops.

So take the pledge and join the movement. Research shows that Indian consumers are taking interest in these campaigns and supporting independent businesses.

Why shop local?

Every time you are going to spend money to buy any goods or services, by shopping locally you can really make the difference. Shopping locally at the neighborhood stores means you are directly helping to create a stronger economy. Buying local helps to create more jobs as well.

Every small business has a story to tell. As we visit the local neighborhood stores, galleries, restaurants or bakeries, we have conversations and connections with them. Local shopkeepers respect and value their customers.   That’s why buying locally really makes a difference.  And when it comes to buying food, shopping local has even more benefits.

An advice for shoppers

We usually make our purchases according to the price, but if we spend a little at local shops, it will really make a huge difference. Shoppers need to be made aware of the huge benefits of shopping at local stores in their neighborhoods. It’s time to move on now and spread the word – Buy Local, Shop Local and Think Local!