July is Independent Retailer Month, which celebrates small businesses throughout the country. The prevalence of “big box” stores such as Target and Wal-Mart often hurt “mom and pop” stores, frequently putting them out of business. Independent retailers work hard to compete in today’s market, looking to superior customer service and higher quality items to compensate for more expensive prices. Small businesses are still a vital part of our economy, with a report from the American Express Open Independent Retail Index showing that nearly half of the total retail sales in the U.S. come from independent businesses.
Spending locally also strengthens small communities, with studies showing that money spent at small businesses is more likely to remain within the area. Independentretailermonth.com reports that when $1 is spent at a small business, anywhere from $5 to $14 in value is created within that community. This contrasts to national chain stores, where 80% of money leaves the town immediately.
Small business owners are also likely to be dedicated to their communities in other ways, with more than 9 in 10 small-business owners nationally giving back to their communities through working with nonprofits, coaching youth sports teams or holding public office, according to Ron Aldridge, Mississippi director of the nonprofit nonpartisan National Federation of Independent Business.
Small businesses owners work to remind consumers of these benefits. In 2010 American Express began Small Business Saturday, a shopping holiday following Thanksgiving that generates billions for small businesses. Publicity for Independent Retailer Month and Small Business Saturday play an important part in the success of small businesses. Social media has also become a large part of the local spending movement, with business owners and shoppers alike using Facebook, Twitter, and Foursquare to share events geared for the local community.
Independent retailers are doing what they can to compete in the marketplace and contribute to the community. Show your support by checking out a few mom and pop shops this month, and know that money spent is working for you and your community.
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Elizabeth McCumber is a marketing professional and freelance writer. Elizabeth specializes in email marketing and content strategy. She also enjoys writing about career development, entrepreneurship, and women in business. Connect with Elizabeth on LinkedIn.
