July is recognized as Independent Retailers Month. At First Bank, we like to highlight the importance of shopping locally. Below are some of the many reasons that customers shop local, plus a few ways that small businesses can promote and enhance these key benefits.

Why Do Consumers Shop Local?

By supporting independent retailers, customers can discover unique offerings, get attentive personalized service, and help to strengthen their communities.

• Your Money Stays Local: For every $100 spent at local shops, two-thirds of that stays in the community in the form of wages, taxes, and support for other small businesses. At national chains, local reinvestment drops to around half — and online shopping contributes almost nothing locally.

• Experience Matters: Experiential retail and immersive shopping are more than buzzwords; they’re the future of commerce. Brick-and-mortar Main Street businesses are perfectly positioned to embrace these trends.

• In-Person Is Still In Style: It might seem like everything is going virtual, but many consumers still value meaningful human connection.

• Shopping Small Generates Jobs: Collectively, U.S. small businesses are a job-growth powerhouse. While representing less than half the total workforce, they create two-thirds of all new jobs. That means local shoppers can directly contribute to a revitalized workforce.

• Unique Offerings: While national chains must base their offerings on broad consumption patterns and supply chains, local businesses can offer distinctive, thoughtful goods and services that are designed to delight one customer at a time.

• Small Is Sustainable: Shop small, shop green. Local products don’t have to be transported as far, which can reduce their CO₂ footprint. Plus, by supporting a vibrant retail core, shoppers can save time, money, and emissions.

What can businesses do to stand out?

Here are a few ideas to consider:

• Start by sharing your story: use your physical and online presence to tell customers who you are and why you’re passionate about your business. Treat product descriptions as local tales: Think “handcrafted black hickory from Pleasant Grove” instead of “wooden handle.” On social media, use videos to showcase the process behind your products.

• Show how your business’s revenue circulates within the community: Highlight donations to local charities, partnerships with local suppliers, and your support of nearby merchants. Consider posting a simple pie chart to illustrate the two-thirds statistic.

• When it comes to offering personalized shopping recommendations, you’ve got the competitive edge – no big data required: Make sure that your frontline staff is adequately trained and empowered to offer one-on-one guidance to your customers. You can reward repeat visits with a creative loyalty program.

• Introduce your team on your website and social media to show your customers how you’re hiring people in the area: Highlight the benefits of working for a small business, like the chance to develop a more varied skill set. Consider offering work experiences through local schools.

Collaborating with other local businesses and organizations is another great way to multiply the benefits of the shop-small movement. For more tips and resources, visit First Bank. First Bank is committed to doing its part to help grow the economy and create value for shareholders and stakeholders. With new branches, markets, products, and technology all under consideration, First Bank is equipped to help you reach your financial goals.