Frequently Asked Questions
Q: Why does it matter where I make my purchases?
A: When you spend close to home, more of your money stays within the community. That includes the donations retailers and other businesses make to area charitable organizations that continue to help our citizens and enhance our quality of life.
Q: What is Retail Merchants’ goal for the Think. Shop. Buy. Local® campaign?
A: As the business association of choice for successful retail businesses, we hope Retail Merchants Association members will take part in the Think. Shop. Buy. Local program and promote efforts to keep the local economy vibrant. We encourage non-member businesses to look into services we offer to members, such as support with campaigns like this one that can help drive traffic through their doors.
Q: How is shopping local businesses good for my community?
A: Local businesses employ local people and pay taxes that support the local community. Buying goods in your work and home neighborhoods helps keep stores open, retail corridors healthy, builds relationships -- and it is convenient. Shopping close to home can reduce pollution created by driving out of the area, and can support public transportation.
Q: What are the statistics that back that up?
A: Studies have found that for each $1 spent at a local business, 45 cents is reinvested locally. Spending at companies that have no stores or ties to our community results in little to no local revenue benefit.
Q: Can you put that into perspective?
A: Certainly. The government’s latest Consumer Expenditure Survey found that an average Southern metropolitan household with 2.5 residents spent $45,225 per year, the majority of that on housing, transportation and food. If that one household bought only from stores and businesses with locations in the area, its spending would return at least $20,350 to the local economy in wages, manufacturer’s products, taxes and giving to non-profit groups. And if each of the Richmond region’s 510,000 households did likewise, the return to the area would represent nearly $10.4 billion.