Independent Retailer Month, is a month-long celebration in July that encourages everyone to shop locally. It highlights the positive economic and social impact that independent retailers make, at the local, national, and global levels.
The month is designed to build support for small businesses and allow them to compete with big-box stores on a more even playing field. This means choosing to shop at neighborhood corner shops, mom-and-pop stores, and other independent retailers, so they can grow and stay resilient.
The importance of small businesses
There are over 32 million small businesses in America, making up 99% of all US businesses. They are often considered the backbone of America’s economy – it is estimated that a dollar spent at a local business is spent six to fifteen times in the community before heading out of town. Just $1 can create $5 to $14 of value in the immediate area. Moreover, small retail businesses are leading local employers that hire people from close surroundings, the community gets the taxes which keeps money within the community, and the local economy keeps buzzing.
However, post-COVID recovery, inflation, and gas price hikes continue to stifle their growth. Some 51% of local retailers are worried that skyrocketing inflation could force them to shut down their businesses. In comparison, only 36% of retailers have fully recovered, generating the same monthly income they earned before COVID.
This month is an excellent opportunity to highlight small businesses’ contributions to the local economy. Make it a priority to shop local this month, and avoid the big box stores throughout July.
Ideas for small businesses to celebrate
The official Independent Retailer Month website has some great resources for small businesses, including an idea bank for different promotions they can run this month. Some of the ideas include:
- In-store event: Bring your community together by hosting an Independent Retailer Month kick-off event, in-store gathering, and special promotion to celebrate your customers and local supporters
- Meet and greet: Invite your customers to meet brand owners/representatives at your store
- Community talent: Support local designers, artists, and DJs by hosting a joint in-store activity
- Shopping crawl: Team up with neighboring independent retailers to host a shopping crawl providing a map and prizes for participants
- Charity giving: Offer to donate 10% of the purchase price for each customer to a local community charity
The Bottom Line
At Markaaz, our mission is to help small businesses succeed. With our Dashboard, small businesses can have a bird’s-eye view of their business and connect to resources that can help their business grow.
Learn more about how the Dashboard changes the game for small businesses, and join Markaaz today!