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Research supporting the growth of independent retailers, specifically in the gift and home industry. Research also found more growth for independent retailers who were located in an area that supported independent business associations (IBAs).
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Independent Retailers in the USA:Some Positive Indicators!
Prepared by: Crystal Vilkaitis
SnapRetail Director of Social MediaApril 28th, 2011
Research Objectives:
• Find evidence of the health of independent retailers
• Determine whether the concept of “Buy Local” is having an impact on the health of independent retailers
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I. There is evidence that independent retailers are growing!
II. Purchasing from independent retailers boosts local economies
III. There are an increasing number of organizations focused on promoting “buying local”
IV. “Buy local” initiatives increase the growth of independent retailers within their community
V. The Opportunity is huge because almost 50% of independent businesses are retailers
VI. SnapRetail is riding the “buy local” wave and needs to align itself as much as possible to this sentiment
Summary: Conclusions
Supporting Research Findings
I. There is some evidence that independent gift and
home retailers are growing
Considerable Wholesale Sales Growth at 2010 and 2011 Dallas Winter Markets
Source: Brandwise and The Gift and Home Association
And in Atlanta , despite the January 2011 blizzard….
Sales Were Slightly Up over 2010
Source: Brandwise and The Gift and Home Association
Signs of Change: Almost ¾ of 2009 Pharmacy Openings were Independents!
Source: Localism Index, March 2011
Note: Independent Pharmacies Sell Many Gift and Personal Care Items!
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78% of consumers shop locally-based home accent stores at least a few times a year;
31% at least once a month
Source: Home Accent Today and HGTV Consumer Survey; 3,531 consumers surveyed
II. Purchasing from independent retailers
boosts local economies!
$$ spent w independents goes back into local economy > 2x more than $$ spent at Target!
Source: Localism Index, March 2011
Multiplier effect: Spending higher % locally puts even more $ back into local economy
Source: Yes Magazine
The Public Now “Gets” the Benefit of Local Spending!
Survey gathered data from 2,768 independent, locally owned businesses during an 8-day period in January.
Consumers care about shopping Locally
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Why Consumers Shop Locally“Specialists offer more unique items, not just cookie-cutter items you find at chain stores.” – 45-year-old, California
“Specialty stores tend to have more unique pieces that you won’t get at a big-box store and I am contributing to the local small businesses” – 23-year-old, Georgia
“They sell unique pieces that have character” – 30-year-old, Ohio
“The products tend to be more unique and not so mass-marketed. Also, store personnel are more knowledgeable” 39-year-old, North Carolina
“I like to support our local economy and I like being able to speak face-to-face with someone if I’m having a problem” -59-year-old, Missouri
Source: Home Accent Today and HGTV Consumer Survey
III. There are an increasing number of organizations
focused on promoting “buying local”
Almost 7x Increase in Independent Business Alliances and Local First groups in 5 Yrs!
Source: Localism Index, March 2011
IV. “Buy local” initiatives increase the growth of independent
retailers within their community
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Independent business associations increase Sales!
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Holiday Sales Higher in Cities with Buy Local Programs!
V. The Opportunity is Huge Because almost 50% of independent
businesses are retailers
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• Surveyed 2,768 independent, locally owned businesses in Jan, 2011
•All 50 states
•Included a range of business types:
Big Opportunity for Snap: Almost 50% of Independent Businesses are Retail!
VI. SnapRetail is riding the “buy local” wave and needs to align itself as much
as possible to this sentiment
Share Socially. Buy Locally.
SHARE SOCIALLY; BUY LOCALLY!