Most small retailers (51 percent) believe there is a growing ‘buy local’ sentiment in the U.S., according to the American Express OPEN Retail Economic Pulse, a survey of retail small business owners with storefront locations. A majority of those surveyed (55 percent) believe that ‘buy local’ campaigns can help small businesses compete in challenging economic times.
Most small retailers (57 percent) are planning local campaigns in 2011. One in five small retailers also say they plan to give more of their business to local businesses (20 percent) in 2011.
More than one third (36 percent) of small retailers say the biggest incentive for consumers to buy at local, independent businesses is ‘better customer service’. The second biggest incentive is supporting the community by creating local jobs (16 percent).
Local market and the web
The Retail Economic Pulse revealed half of small retailers currently advertise on local business review sites such as Yahoo! Local and Yelp. At least one in five will use social media to offer local promotions (22 percent).
Overall, half (51 percent) of small retailers will use social networking sites such as Facebook and Twitter for their businesses in 2011. Most retail small business owners expect to increase social media in 2011 (37 percent) or keep social media plans the same as 2010 (14 percent).
For key findings from the survey, download the American Express OPEN Retail Economic Pulse Fact Sheet.