In 2015, a survey by UPS found that upwards of 93 percent of all consumers preferred small and local businesses over their larger, multinational counterparts. While trends in the global economy might certainly make it appear as if our world is being taken over by the corporate behemoths present everywhere from New York to New Delhi, small businesses continue to provide employment for billions of people around the world while also creating more jobs than the large, transnational corporations. Even despite their massive advertising and publicity power, consumers continue to prefer the local mom and pop store. Below, we offer a quick synthesis of the eight main reasons why small and local businesses are still a cornerstone of our economy.
1. Neighborliness: Despite our mobile nature and the fact that many of us might not know our physical neighbors by name, there is something inherently special that comes with knowing the shop owner where you stop for your morning coffee and doughnut.
2. Customer service: Nobody enjoys talking with robots or answering machines. Customer service at small and local businesses is profoundly personal and allows consumers to make their grievances (and appreciation) known.
3. Unique Products: The global corporate economy might be great at efficiency, but the products it spits out are common, repetitive, and monotonous. Small, local businesses inevitably add local flavor which allows for product uniqueness that can define a small business.
4. Easy to Find and Shop: Walking around Wal-Mart or another huge megastore to try and find a single product can seem like you´re in a never ending maze. Local businesses usually specialize in a small amount of products making it easy to find what you´re looking for.
5. Support Your Local Economy: Keeping money flowing through your community usually means that everyone in the community benefits.
6. Enjoy Trying New Shops: Another unique benefit of small shops is that there seems to be infinite variety. That new deli on the corner will almost certainly contain a new menu item that you can´t find anywhere else in town.
7. Innovative Shopping Experiences: Small and local businesses go beyond straight lines of shelves and the checkout line. Innovative shopping experiences are another reason that many customers prefer local businesses.
8. More Trust: People generally trust local shop owners whose face you intimately known more than the anonymous global corporations.
These eight reasons are testament to the fact that small and local businesses will only continue to grow in years to come.
