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Published on July 19, 2023 | LPL Financial
July is Independent Retailer Month, which is the perfect time to show your support for locally owned businesses that rely primarily on community support. Independent retailers are essential to communities as they are more likely to put money back into their local economy than national retailers.
Every dollar spent at an independent retailer may pass through the community five to 10 times before moving elsewhere. For each dollar spent at a local independent retailer, the estimate is that $45 of local spending occurs versus only $14 for a national chain.1
Independent retailers are more likely to hire locally and spend their revenue dollars on other community businesses. These retailers not only directly help the people in their community but other businesses in the local economy as well.1
While you may support your community’s independent retailers by patronizing their businesses throughout the year, you might also show additional support during Independent Retailers Month. Get started by telling others about Independent Retailers Month and why supporting local businesses is essential for the entire community.2
If you are a business owner, consider creating a section on your website for Independent Retailers Month and list the local independent retailers in your community. Perhaps spread the news on social media to show your support for local businesses.2
If you are an independent business owner, Independent Retailer Month may be the ideal time to try to attract more customers and promote local spending.
Here are some ways to promote your business during Independent Retailer Month.
Whether you are an independent retailer yourself or simply want to shop locally, Independent Retailer Month is the perfect time to show your community support.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy.
This article was prepared by WriterAccess.
LPL Tracking #1-05278088