Buying in your local community

If you believe that what goes around comes around, you may think twice about shopping at a big box. A CoolTown’s ‘coolness’ stems from being expressive of the people who live, work, play and employ there, not from a corporation on the other side of the country looking to mass produce its product.

A recent study tracked eight locally owned businesses and a major big box retailer in Maine. The results:

Revenue spent within the state:
Local businesses: 53.3% (44.6% spent within the immediate area)
National chain: 16.1%

Local revenue lost if national chains captured all retail growth in next four years:
$23 million

Percentage of revenue spent on charities/community programs
Local businesses: 0.4%
Walmart: 0.1%

A similar study in Austin had the following results:

Local economic return from $100 spending
Local businesses: $45
National chain: $13

Local economy revenue gain if just $100/household was redirected to local businesses:
$10 million