For four consecutive years, Stacy Mitchell of the Institute for Local Self-Reliance (ILSR) has undertaken a unique research project, surveying thousands of independent businesses about their sales figures from year to year. The results of ILSR’s latest survey offered encouraging news for entrepreneurs battered by the recession and for organizations working to sustain vital communities.
Independent businesses in U.S. communities with an active Buy Independent / Buy Local (BIBL) campaign reported the strongest figures since the surveys began—a 5.6 percent increase over the previous year. This increase was more than two and a half times the gain (2.1 percent) reported by independent businesses located in areas lacking such a campaign.
Among independent retailers, which comprised just under half of nearly 2,800 surveys tabulated, the contrast was even more dramatic during the holiday season. Those in communities with BIBL campaigns experienced a 5.2 percent increase in holiday sales, while retailers elsewhere reported an average gain of just 0.8 percent.
The most influential community campaigns inspire residents to recognize their power and responsibility to guide the community’s future.
While the survey proves correlation, not causation, the consistently positive numbers each year for businesses served by these local alliances is powerful evidence that sustained and sophisticated campaigns can shift local culture.
In addition to the sales figures, nearly two-thirds of survey respondents said public awareness of the benefits of supporting locally owned businesses had increased in the last year and 55 percent said their local campaigns had made existing customers more loyal.
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1 comment:
This is an excellent thing-- one that the Chamber and Economic Development people should be all over.
We send more than enough of our hard-earned money to Bentonville, Arkansas.
Let's keep a lot more of it right here by seeking out local businesses that can meet our needs.
But the local business people have to keep it real, too.
I know of a local health food store that sells the supplements I need, but they charge full retail.
I can get the exact same stuff for about 40% less online.
They need to buy smarter, so they can sell cheaper. If they just bought from the same place I do, they could cut their price by at least 20%.
LORA does pretty well promoting local restaurants. Maybe that model could be applied more broadly.
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