Thursday, October 10, 2013

Holiday Spending is Important to Local Businesses

Each year as the holidays approach, we start making our holiday shopping list and checking it twice! Those lists seem to get longer as we add the new baby, the additional relatives and those new friends.  As the lists get longer and the prices of things increase, it is no surprise the average holiday spending grows yearly. This is good news for retailers. But how does that translate locally?

Be watching your mailbox this November for a flyer like this one. 

According to the American Research Group, shoppers planned on spending $854 for gifts during the 2012 holiday season.  But, the American Consumer Credit Council said Americans actually spent $935 on Christmas. And, in 2013 the industry anticipates 3.5% growth putting those numbers closer to $1000 per family spent on Christmas.

What does that mean to retailers?

The National Retail Federation stated that for some retailers, the holiday season can represent 20-40% of their annual sales. In 2012, holiday sales represented 19.3% of total retail industry sales.

Now, break that down even further to local retail businesses in Knox County. The majority of their shoppers come from right here in Knox County.  Have you thought about how you could take some of your holiday budget and spend it locally? You may not be able to get every item you need, but with a little creativity and planning, you might be surprised just how much of it you could find locally.

Big box retailers can't give you the personalized attention that a local business can. If you are looking for particular items, ask them if they can order them. Or, ask them when they will be going to market to get their holiday items and see if they are willing to help you find a particular item. They want your business so communicate your needs to them.

The last two years, the Knox County Visioning Group has put together a one-page flyer that is sent to each mailbox in the county. It lists all the businesses that have something to sell during the holiday season and a creative gift idea. There is not enough room to list every item available, but simply one or two things you might not have thought about.

This year, the KCVG will be doing another holiday flyer reminding you to shop local. Be watching your mailbox in November for a flyer that looks like the photo above. And, take a moment to read it and stop in and say hello to a local business. You might be surprised at what you find, and you will be helping to save a local business.  For more information contact us at 940-459-4121.

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