Shop Small Spend Local
By Middagh Goodwin
Modesto’s population is approximately 216,810, making it the 19th largest city in California. So, what does that mean? It means that there is a significant number of people living in and around Modesto.
Statistics show that approximately 68% of the money spent locally is reinvested in the community. This statistic is important to remember. Independent businesses contribute more than three times as much money per dollar of sales back into the community compared to chain competitors.
How can we grow our local economy?
What I am suggesting is that if we all switch our spending, even just a little, it will have a huge impact. Even $5, which is the price of a cup of coffee at one of those corporate cafes, can make a difference. That small amount adds up significantly.
We want to ensure that our favorite places remain in business for years to come. Whether it’s going out to eat, getting a haircut, or enjoying a spa day, many of us are looking forward to these activities. However, we must acknowledge that not everyone in Modesto can afford to spend even an extra $20.
To simplify the calculation, let’s exclude the very young, old, and unemployed individuals, which make up approximately 40% of Modesto’s population. Let’s round that number up to 50% for convenience. This means that 108,405 people are still in a position to contribute. If each of us spends an average of $20 on gift certificates or dining out at local cafes, restaurants, hair salons, spas, and other locally-owned businesses, We can accumulate $2,168,100 in just one month. Over the course of a year, this amounts to $26,017,200. This is a substantial sum of money that can greatly benefit our community, our friends, and our neighbors.
Remember, I mentioned the statistic of 68%? The local businesses you support also contribute a significant portion of that back to your community through their patronage of your shops and restaurants, thereby providing employment opportunities for your friends and family. This results in an additional 1,474,308 each month being circulated within the local economy. This demonstrates the compounding effect of supporting local businesses.
Perhaps you are considering buying gifts for the holidays instead? There are numerous talented artists, crafters, and artisans who would greatly appreciate your support, and you can find unique gifts for your loved ones from them. Gift certificates to venues that host live music and plays also make excellent presents.
Also buying gifts or making a donation in someone’s name to local non-profits like the Graffiti USA Classic Car Museum, McHenry Mansion, or Museum are great gift ideas and support our community.
Shop local, shop small, and remember together we can make an incredible impact.
