This post was originally published on On Deck
In our age of hyper-convenience, online stores and corporate giants offer quick, affordable purchases for anything from groceries to sports apparel. But choosing to shop local can provide a number of benefits to both you and your local community.
“Shopping local” means buying from independently owned businesses and neighborhood stores instead of big corporate chains. Doing so benefits the neighborhood socially and keeps your dollar circulating between local businesses and families. And while events like Small Business Saturday, Women’s Small Business Month and Small Business Week bring attention to small businesses, it’s year-round support that helps keep them in business.
To better understand American attitudes toward shopping locally, small business lender OnDeck asked a representative group of 2,000 consumers, including members of three key generations, about why, when and how much they choose to shop locally, in partnership with the research consultancy Censuswide.
Key Findings: Shopping local statistics The average Millennial (age 29 – 44) makes 158 purchases from local businesses each year — more than any other generation. Millennials spend an annual average of $19,173 locally, which is 4.7 times as much as Baby Boomers (age 61 – 79) ($4,077). Survey participants estimate they spend 37% of their
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