2007 All-America City Awarded to Barnstable, Shop Local Day Hyannis Main Street, Saturday, May 10th
Published on Wednesday, April 23, 2008
Shop Local Day Highlights the Importance of Spending Your Dollars Locally
Main Street, Hyannis' Shop Local Day has been organized by the Hyannis Main Street Business Improvement District as a way to highlight the importance of spending your dollars locally. Over fifty businesses on Main Street will be offering sales, discounts and deals on May 10th for Hyannis Main Street’s first ever Shop Local Day—some are offering up to 50% off of their entire store.
Where consumers spend their money is extremely important, particularly in a slower economy. When people spend their money in a locally owned store, as opposed to a nationally owned store, it generates between 2-4 times more money for the local economy. This is because local businesses employ many local residents; in fact they are the largest category of employers nationally. In addition, local businesses use other locally owned businesses for their business and professional services, such as printing, graphic design, advertising and web design, thus recycling money back into the local economy.
Local businesses have a natural interest in Cape Cod’s long term health, and therefore they make significant investments in the community. They are the greatest supporters of local charities, schools, teams, and community events and fundraisers. On average, local businesses give three times the amount to a local community than national businesses. Robert Kennedy of Kennedy Gallery on Main Street, Hyannis “cannot remember ever turning down a request for a donation from any organization, particularly when it is related to children.” But Kennedy goes on to say “Main Street merchants are a lot more accessible [for donations] than stores at the Mall, but when shopping is the mission, the Mall usually wins out.”
People tend to do business where they perceive the best value for their time and money. Goods and services might be cheaper (but not always) in a national retail store however, it is important for people to realize that the money spent in a locally owned store adds much more value to the local community. Without these local businesses the Cape would not only lose part of what makes it so unique and attractive to visitors, but it would also lose the economic backbone of the community. By supporting local businesses, not only can the Hyannis and Cape Cod community survive, but it can thrive.
Join us on Main Street on May 10th to support the businesses that continually support the Cape Cod community. Check www.hyannismainstreet.com for more details and a complete list of Shop Local Day participants.
