The holiday season is upon us, and suddenly, retailers all around the globe have redoubled efforts to secure our patronage. However, while buying from e-commerce giants can be cheaper, should we go back to the humble local store?
Black Friday, Cyber Monday, pre-Christmas day sales -- major retailers use a number of promotions, advertisements and delivery deals to make sure we go to the top dogs, often spending millions in the process.
While we may think we're getting a great deal in times where belts have tightened, are we doing harm to our local environment by taking advantage of such promotions?
According to a new infographic from CustomMade, an online marketplace for custom items, the impact may be more widespread that consumers realize. If we choose to buy local, not only can this keep independent stores alive and the entrepreneurial scene thriving, but according to the Andersonville Study of Retail Economics (.pdf), local businesses generate over 70 percent more local economic activity than big, brand-name retail giants.
According to the data below, while spending $100 at a local store, you generate $68 in local, economic activity. However, choosing a larger international retailer nets only $48. In addition, it is estimated that money spent at local businesses generates 3.5 times more wealth for the local economy than chain stores.
Perhaps these figures are worth keeping in mind this holiday season.