The one consistent reason people cite as why they don’t shop local is price. They say they can’t afford to pay more for items they need on a daily basis. But shopping local isn’t more expensive if you take into account the following aspects:
Loss Leaders
Big box stores run hugely expensive, glossy 4-color ads featuring front-page loss leaders to get you in the doors. These loss leaders are sold at a reduced revenue, or loss, in order to attract customers. The box stores sacrifice money on some items in the hopes you’ll buy others. While some savvy shoppers come in just for the loss leaders, most decide to do all of their shopping at the store making up for the revenue lost on 1-2 items. Once you know that about box stores and negate the price of those 1-2 items, you will see local stores are more competitive than you think.
The Cost of Fuel
Currently gas prices are low but not always. If you’re driving 20+ miles to go to a box store or mall, you’re using about a gallon of gas each way, which adds between $3.25-$5.00 (depending on fuel prices) to what you are purchasing.
The Cost of Revenue
If no one shops in your community, your businesses will close. If your businesses close, you lose revenue from shopping tourists, your tax base (which goes to schools, EMT, fire stations, sheriff, your local library, and others), and your little league sponsor. Are you willing to shell out the money to replace the revenue lost? People don’t want to live in a town where everything is boarded up.
Advice
If you need expertise, local store owners have it. A local bait shop can tell you the best places to fish in the area, saving you time and frustration. A local knitting store may offer classes to improve your skill and help you get to know other knitters in the area. These bonuses often come free of charge.
Shopping local isn’t all pricey, high-end boutiques. Even people on a budget can find value in buying local when they consider the hidden costs of the alternatives.
What other ways do you know of that your local stores save you money?
