This Friday, millions of people around the country will throng to big chain stores to buy $12 plasma TVs and stock up on 50-cent cashmere sweaters.
We don’t begrudge anyone who wants (or needs) to save money this holiday season. We’re right there with you. But the long-term cost of throwing the better portion of your economic weight behind chain stores far outweighs the short-term savings.
For example, one local-first study showed that when you spend $100 at a locally owned business, $68 stays in your community. When you spend the same amount at a chain store, only $43 stays in the community.
OK – no one wants to hurt local businesses, but we’re all watching every penny. How does keeping that $25 in your community directly benefit you?
It makes for a stronger economic ecosystem. Dollars spent at the locally-owned retailers support the shop owners and allow them to offer their employees competitive wages. More importantly, your financial support enables them to be more responsive to your needs and stock the kinds of things you would otherwise buy at the big chains.
If you want a different view on that stuff, have a look at this fast-paced little film:
The folks here at Paperkite are passionately committed to vibrant, sustainable local economies. Over the next few months, we’ll be talking a lot more about this subject and about how we’re working to make a difference in our own community.
In the meantime, have a great Thanksgiving and think local as you head into the holiday frenzy.