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GOOD YEAR FOR INDEPENDENT BUSINESSES
INVOLVED WITH 'BUY LOCAL' CAMPAIGNS
An annual survey has found that independent businesses had strong sales growth over the holidays and appear to be benefitting from growing public interest in supporting locally owned retail stores, banks, restaurants, and others.
The fifth annual post-holiday survey of independent businesses by the Institute for Local Self Reliance in partnership with several business associations, gathered data from 1,768 independent businesses across 49 states over an 8-day period in January. Locally owned retailers, who were about half the survey respondents, reported stronger holiday sales than the industry average. While overall holiday sales were up 4.1% in 2011, the independents surveyed said their holiday sales increased 6.7% on average.
But here's the big take-away:
Independent businesses in communities with an active "buy indie/buy local" campaign run by a local business organization saw revenues grow 7.2% in 2011, compared to 2.6% for those in areas without such an initiative.