Lifestyle

Buy a local “potentially double the amount” that stays in your community

Buying more Christmas dinner ingredients, gifts, and festive decorations from your local retailer can double the amount of money left in your local community.

Research shows that for every £ 10 spent on a local company, more than one-third (£ 3.80) of that amount remains in the area.

Shoppers are willing to spend half the money locally

The average UK shopper now spends just over a fifth locally, or £ 2.26 for every £ 10, according to figures compiled by the Center for Economic & Business Research (Cebr) for Visa. Of these, 86p is retained in the local area.

However, when consumers were surveyed about their shopping habits, they revealed that on average they were willing to spend £ 4.98 for every £ 10 locally. Analysts believe that increasing local spending to this extent will leave £ 1.90 locally.

People in London spend the most locally and give £ 3.05 for every £ 10 to a nearby independent company, while people in Wales and southwest England spend the least, £ 1.90 for every £ 10 is a community company. will go. According to the survey results.

Contribution to the community

More than half (54%) of the 2,000 consumers surveyed said it was important to shop locally because they knew how meaningful the habits were, and 43% said they had a local shopkeeper. He reported that his support increased his sense of well-being.

Almost half (49%) of respondents believe that local businesses contribute to the community by hiring locals, and more than one-third find the area livable and vibrant. It is a lively place. The majority of those surveyed (62%) said they were worried that independent businesses would not survive without the support of the local community.

Avoid shops

Independent retailers in various sectors struggled to maintain ups and downs this year as national and regional blockades forced them to close for several months at a time as a result of the Covid-19 pandemic. Many people avoid visiting and prefer to order items online, even when the shop is open. Often from large chain stores or e-commerce businesses such as Amazon.

After Black Friday begins later this week, next month will be an important time for retailers of all sizes. What started as a day on the retail calendar has rapidly grown into a week-long promotional event for many companies in recent years. The UK-wide blockade and UK-wide Covid restrictions, which will not be lifted until December 2, are expected to bring more shoppers online than ever during important shopping periods.

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Last Posted on Christmas 2020: Royal Mail Schedule for UK and International Postage for the Year

Diane Wehrle, Insight Director of retail data firm Springboard, said: “Under the UK blockade, online spending will undoubtedly increase significantly as all products must be purchased online except for those available in the essential stores.

“Especially in UK physical stores, the opportunity to go beyond Black Friday is largely limited to the ability of shoppers to offer click-and-collect functionality, which is the only option to purchase products in non-essential stores.”

@kt_grant



Buy a local “potentially double the amount” that stays in your community

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