In today’s world, technology has made shopping immensely convenient. However, by taking the easy way out and shopping with massive corporations, local communities take a big hit.
Small businesses are being lost at a record rate in 2024. Over 50 percent of small businesses fail within their first year according to Oberlo. This is largely because for every locally based option, there is almost always an easier one online or within a major chain.
The problem revolves around ease of access and impressions. Rarely do small businesses have the ability to spend large chunks of their funds on marketing, as they have very thin margins to stay above water.
Many of these businesses rely on word of mouth and excellent customer service for the word to get out.
In the music industry for example, industry giant Guitar Center gets a high percentage of customers, over 34 percent according to IBIS World. This is done with a multimillion dollar advertising budget. Millard Music House, a staple in Millard for forty years, has no ad budget, and relies on google reviews and customer recommendations to survive.
Millard Music has a very loyal customer base, who turn to them in need of service or any new gear. But its growth is not fast enough to keep up with the giants who dominate their industry.
Often these businesses have only a few employees, with many having none at all. Over eight out of 10 small businesses have no employees, according to Forbes. For the shopper, this statistic may cause a doubt in the ability of these businesses to serve them as well.
In reality, the opposite is usually true. Eighty percent of people said that small businesses offer better customer service than their major counterparts according to SCORE. Small business owners take a major priority in making the people who choose to use their services happy.
Through shopping at small businesses, you are not only getting better service, but you are supporting your own community. Small businesses circulate three-times more money back into the local economy, according to LinkedIn. Shopping at these stores has a direct impact on the communities you know and love.
When looking at whether or not it is worth it to shop small, the answer is clear. If you choose to go beyond the normal and find local alternatives, you will find better customer service, great selections, and businesses that genuinely care about you and the community more. Consumers should certainly look to support their local businesses in an effort to make their community a better place.
