July is National Independent Retailer Month

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The whole month of July is dedicated to the celebration of independent traders. National Independent Retailer Month is used to recognize independent retailers who support local economies.

In the United States, there are some 143,853 small retailers selling a diverse range of products. From groceries and furniture to clothes and shoes to books and art supplies and everything in between.

The number of businesses in the small specialty retail store sector in the United States grew by an average of 0.9% per year over the five years between 2017 and 2022. In fact, opening a store of retail is a popular way to start a business thanks to its simplicity. business model.

So, if you are a budding entrepreneur, you can open a retail business in person or online without requiring a lot of capital. In addition to offering much-needed products to the local market, independent retailers create vibrant local interactions that build local community awareness and engagement.



National Independent Retailer Month in July 2022

The celebration is designed to garner support from smaller retailers and enable them to compete on a level playing field. This means supporting neighborhood convenience stores, mom-and-pop stores and other independent retailers to grow and remain resilient.

Small retail businesses are considered the backbone of the US economy, but the post-covid recovery, inflation and rising gas prices continue to stifle their growth. Some 51% of local merchants are currently worried that soaring inflation will force them to close their businesses when only 36% of retailers have fully recovered, generating the same monthly income as before COVID.

  • READ MORE: Make the Most of Independent Retailer Month

Additionally, a recent rent report reveals that the majority of U.S. small businesses (52%) have seen rent increases in the past six months, up 6% from 46% in April. In addition to other inflationary trends, rising rents increase rates of rent default. Of that 52% majority, 18% say their rent has gone up by 10% to 20%, and 14% say it’s more than 20% higher than it was just six months ago.

Retail sales in the first quarter 2022are at $959.2 billion, up from the $887.0 billion recorded in the first quarter of 2021. They are down $52.1 billion from the $1011.3 billion recorded in the fourth quarter of 2021.

Why should you support small retailers?

Small local retailers bring a lot of value to the local community, here are some of their benefits:

Boosting the local economy: It is estimated that a dollar spent at an independent retailer is typically spent six to fifteen times in the community before leaving town. Just $1 can create $5 to $14 of value in the immediate area. Plus, small retail businesses are top local employers who hire local people, the community collects the taxes that keep money in the community, and the local economy continues to buzz.

Buying locally is good for the environment: Besides local shops employing locals, they have relatively less impact on the environment when it comes to driving or public transport, thus reducing carbon emissions. Also, because they are located in the city, it makes them more accessible and within walking distance of everyone, while most of their products are locally sourced.

They provide a better shopping experience: Unlike multinational retailers, local retailers are a source of creativity and originality. Small businesses are primarily customer oriented and understand the needs of their community while offering unique products or services that can be customized and customized to the wishes of customers.

Support local entrepreneurship: A local retail business is run by everyday people, who are often our friends, family, neighbors or acquaintances. These entrepreneurs bet everything they had to build a thriving business, which is why we owe it to them to make their dreams come true.

Ideas for making the most of National Independent Retailer Month

If you are an independent retailer, you can access the resources available at Independent Retailer Website of the Month which include logos, posters and postcards designed to make the whole month of July National Independent Retailer Month. You can also step up your marketing game by offering discounts, gift cards, special offers, social media to share your business story, and hosting community events with other local retailers.

Ways to celebrate National Independent Retail Month:

  • Don’t just offer discounts. Remember, the month is all about celebrating independent retailers, try to show off your unique offerings, your story, and why customers should buy from you.
  • Focus on giving your customers unique experiences they can’t get anywhere else.
  • Take the opportunity to connect more with your customers by offering them to sign up for your email marketing to get future offers available to them or the option to send out your monthly newsletter to continue conversations and grow your broadcast list.

If you are a customer, you can go to the shopping district in your city and buy there. You can also support your local retailers by helping organize walks in your community to encourage local shopping.

If you’re looking to capitalize on the many days on the calendar that celebrate different occasions, here’s the full list for 2022.

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Image: Depositphotos


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