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July is #IndieRetailerMonth – Join in to Support Small Business

July 2, 2020 | Entrepreneurship
July is #IndieRetailerMonth – Join in to Support Small Business, CDC Small Business

Shopping local and supporting small businesses has become more important than ever.  With July being Independent Retailer Month, it’s the perfect time to learn more about how shopping with local businesses affects the community and the greater economy.

One inspiring fact: If every family in the U.S. spent an extra $10 a month at locally owned, independent businesses instead of national chains, over $9.3 billion would be returned to local economies. 

Understanding the impact of your dollars gives you all the more reason to get out there or go online to shop local.

Independent Retailer Month was started by two small business retailers who joined forces in 2011 to create the movement, which starts July 1 each year.  Of course, shopping local is encouraged year round, but July is a time to celebrate independent retailers.  They help build our economy, creating more sustainable cities, towns and communities.

 

The Impact of Small Business on Communities

The leaders behind Independent Retailer Month collected several eye-popping facts about the effects shopping local can have on communities.

Studies by Civic Economics, a Chicago- and Tulsa, Okla.- based firm found:

  • In New Orleans, the researchers identified that if residents and visitors shifted 10 percent of their spending from chains to local businesses, it would generate an additional $235 million a year in local economic activity. Not just spending either – job creation too.
  • Independent retail returns 46.9% of all revenue to the local economy. Major chains, though recirculate 13.6% of revenue within local markets.

 

Shopping during #IndieRetailerMonth

There’s many options, not only to help but to discover new independent retailers too:

  • Stop by your favorite shop in July – at their location or online. You probably already were planning to, so this one is easy.
  • When you check in, take time to learn about other local shops nearby.  Stop by, call or send a request online asking the owner of your favorite spot for recommendations. Odds are you’ll find at least one new favorite based on that advice.
  • Post photos and messages of support to social media. Use the hashtags #IndieRetailerMonth, #IndieRetail and #ShopSmall so your followers can join in. Others viewing the hashtag might discover a community gem based on your post – and you might too.
  • Remember to share an online review. Letting people know about your experience with local shops leads to positive word of mouth. Reviews are especially helpful for independent retailers, who often have a limited advertising budget. And the post will remain up far beyond July, so your support will keep on generating good vibes.
  • If you’re able, commit to spending that $10 extra a month at independent retailers. The proceeds from your purchases won’t just make an impact at the shop – they will ripple into the local economy as well. That in turn creates jobs and contributes to community prosperity.

 

Independent Retailer Month Small Business Tips and Resources

Organizers also offer a variety of tools and ideas to help small retailers join in.

Visit the resource center  for logos, posters, postcards, promotion ideas and more.  Use logos to affix to social media posts or newsletters, signs for shop windows and postcards to distribute and remind customers of what’s coming up. Small business owners also can tap an “Activity Idea Bank” to spark their creativity for Independent Retailer Month. The hints include:

July is #IndieRetailerMonth – Join in to Support Small Business, CDC Small Business

A poster shop owners can download from www.indieretailermonth.com

  • Badges. Offer buttons to employees, and shoppers too, to spread the word about Independent Retailer Month.
  • Bonus buck. Give customers a $1 coupon for every $10 they spend in your store in July. The coupon is redeemable in August.
  • Host or join a live or virtual event. Events can be in-store, virtual or in collaboration with another business. Try a happy hour partnership between a bar, shop or restaurant or invite a popular brand rep to appear for a meet and greet. Shopping crawls (virtual or live), where several businesses take part to promote what Main Street has to offer, are a great way to meet other independents and forge bonds for more events. Shoppers receive maps or links of participants and the businesses often offer special deals or prizes for those who take part.
  • Check-in deals. Offer every shopper that “checks in” or tags to your store on social media an exclusive promotion.
  • Charity giving. Offer to make a donation of 10% of the purchase price for each customer to a local community charity.
  • Media outreach. Proudly promote your involvement with Independent Retailer Month to your local magazines, blogs, TV and influencers to receive coverage and help attract more customers.

 

CDC Small Business Finance is a trusted small business lender, award-winning nonprofit and advocate for entrepreneurs. Over more than four decades, we have provided $18 billion in funding to over 11,000 borrowers … and counting. Unlike a traditional lender, we have the flexibility to offer affordable loans to underserved small business owners. Our lending also plays a role in bolstering economic development, and has helped to create or preserve more than 200,000 jobs in California, Arizona and Nevada.

 


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