Wednesday, August 24, 2011
August 24, 2011
In his week’s continuing series of providing information service to your clients, I came across this article that applies to many local businesses. Cut and paste this and send it to your client with a note that says something like, “I saw this and thought of you!”
Survey Finds 'Buy Local' Message Benefitting Independent Businesses
For the fourth year in a row, a national survey of independent businesses has found that those in communities with an active "buy local" campaign have experienced markedly stronger revenue growth compared to those located in areas without such a campaign.
The survey, which was conducted over an eight-day period in January, gathered data from 2,768 independent businesses, including retailers, service providers, restaurants and others. It found that those in places with a "buy local" initiative reported revenue growth of 5.6% on average in 2010, compared to 2.1% for those elsewhere.
Among independent retailers, which accounted for nearly half the respondents, there was a similar gap in holiday sales performance, with those in "buy local" communities seeing a 5.2% increase in holiday sales, while those elsewhere reported an average gain of 0.8%.
"Buy local" campaigns run by Independent Business Alliances and Local First groups are now underway in about 140 cities nationwide.
Nearly two-thirds of respondents said that public awareness of the benefits of supporting locally owned businesses had increased in the last year, while 24% said it had stayed the same and only 3% said it had decreased.
Business owners in cities with active "buy local" campaigns reported a wide range of positive impacts on their business. Almost half reported that the campaign had brought new customers to their business and 55% said it had made existing customers more loyal. More than two-thirds said local media coverage of independent businesses had increased and 51% said that local government officials were now more aware and supportive of the needs of independent businesses.
Source: The New Rules Project
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