July is National Independent Retailer Month

The entire month of July is dedicated to celebrating independent retailers. The National Month of Independent Retailers is used to recognize independent retailers who support local economies.

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

The number of small specialty retail industry companies in the U.S. has grown by an average of 0.9% annually over the five years between 2017 and 2022. In fact, opening a retail store is a popular way to start a business thanks to its simplicity. Business model.

Therefore, if you are an aspiring entrepreneur, you can open a retail business either in person or online without the need for much capital. In addition to providing much-needed products to the local market, independent retailers create vibrant local interactions that encourage outreach and participation from the local community.

National Month of Independent Retailers in July 2022

The celebration is designed to support younger retailers and allow them to compete on an even playing field. It means supporting neighborhood stores, mom and pop stores, and other independent retailers to grow and stay resilient.

Small retail companies are considered the backbone of the U.S. economy, but the recovery, inflation, and rising gas prices after the covid continue to slow their growth. About 51% of local retailers are currently concerned about rising inflation forcing them to close their businesses, while only 36% of retailers have fully recovered, generating the same monthly income they earned before COVID.

  • READ MORE: Make the most of the month of independent retailers

In addition, a recent rental report reveals that most small U.S. businesses (52%) have experienced rent increases over the past six months, up 6% from April’s 46%. In addition to other inflationary trends, higher rents are raising delinquency rates. Of this 52% majority, 18% say their rent has increased by 10% to 20%, and another 14% say it is more than 20% more than six months ago.

Retail sales in the first quarter of 2022 are $ 959.2 billion, more than the $ 887 billion recorded in the first quarter of 2021. They are down 52.1 billion from the $ 1,011.3 billion recorded in the fourth quarter of 2021.

Why should you support small retailers?

Small local retailers add a lot of value to the local community. Here are some of its benefits:

Stimulation of the local economy: It is estimated that a dollar spent on an independent retailer is typically spent six to fifteen times in the community before leaving the city. Only $ 1 can create $ 5 to $ 14 in value in the immediate area. In addition, small retail businesses are leading local entrepreneurs who hire people from a nearby environment, the community receives the taxes that keep the money within the community, and the local economy is still alive.

Buying locally is good for the environment: In addition to local shops that employ locals, they have a relatively minor impact on the environment when it comes to cars or public transportation, thus lowering carbon emissions. In addition, as they are located within the city, it makes them more accessible and within walking distance for everyone, while most of their products come from proximity.

They offer a better shopping experience: Unlike multinational retailers, local retailers are a source of creativity and originality. Small businesses are mostly customer-oriented and understand the needs of their community while offering unique products or services that can be customized and personalized according to customer desires.

Support local entrepreneurship: A local retail business is run by normal people, who are often our friends, family, neighbors or acquaintances. These entrepreneurs have committed everything they have to building a thriving business, which is why we must make their dreams come true.

Some ideas to make the most of the national month of independent retailers

If you are an independent retailer, you can access resources available on the Independent Retailer of the Month website that include logos, posters, and postcards designed to make the entire month of July the national month for independent retailers. You can also increase your marketing game by offering discounts, gift cards, special offers, social media to share your company history, and organize community events with other local retailers.

Ways to Celebrate Independent National Retail Month:

  • Don’t get caught just by offering discounts. Remember that the month is for celebrating independent retailers, trying to showcase your unique offerings, your background history, and why customers need to buy from you.
  • Focus on offering your customers unique experiences they can’t get anywhere else.
  • Take the opportunity to connect even more with your customers by offering them to sign up for your email marketing to get future deals available to them or the opportunity to send out your monthly newsletter to keep the conversations going and do grow your email list.

If you are a customer, you can go to the shopping district of your city and buy them. You can also support your local retailers by helping organize shopping trips within your community to encourage local shopping.

If you want to take advantage of the many calendar days that celebrate different occasions, here is the full list for 2022.

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Image: Depositphotos

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