Risk & Business Magazine Nesbit Agencies Spring 2020 | Page 14

BUYING LOCAL
WHAT BUYING LOCAL DOES
FOR YOUR COMMUNITY
I
nstead of buying products from
superstores and national chains,
consumers are being encouraged
to consider purchasing food
and other things from the
communities in which they live. In
addition to buying food from local
farmers markets, consumers are
looking to such local businesses as
area craftspeople and antique dealers,
for example, to keep their purchasing
dollars within their own communities.
By supporting the local community, it
is possible to get some benefits that
may not be obtained when buying from
a nationally recognized chain. Let’s
look at some reasons for buying local.
LOOK AFTER YOUR FAMILY’S HEALTH
You can enjoy a lot of health benefits
when you buy your food locally. If you
purchase fruits and vegetables from
local farmers, you can ask them how it
is grown and it becomes easier to know
whether food is chemical-free. Besides
fruits and vegetables, you can find
meat, fresh eggs, and dairy products in
most local markets as well. Unlike most
supermarkets, farmers markets usually
only sell produce that is seasonal, at
the peak of its growing season. And the
benefits of consuming raw honey can
be ensured by buying locally also.
IMPROVING THE LOCAL ECONOMY
When products are bought from a local
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business, the money is usually retained
within that community. It has been
reported that 60 percent–70 percent of
the money spent locally stays within
that community. On the other hand, it
is estimated that only 40 percent of the
money spent on chain retailers stays in
the community. pollution caused by trains, ships, trucks,
and planes undeniably is contributing
to an increase in global warming. As a
result of imports, 25,000 tons of gases
are released that contributes to global
warming. So buying from the local
market can reduce the amount of fossil
fuels being consumed.
Local business owners often offer
incentives to other local businesses to
do business together. Conversely, chain
retailer buying decisions are often done
on a macro level, which usually leaves
out local businesses. GETTING TO KNOW THE PEOPLE
BEHIND THE COUNTER
Another example of this symbiosis can
also be found in the insurance industry.
Independent insurance agents within
your community are well integrated
into the community and motivated
to connect you with better rates and
coverage than a large-scale franchise
would be. And a community-driven
insurance broker will likely turn around
and reinvest premium commissions back
into the local economy, furthering the
impact of buying insurance locally.
DECREASE FOSSIL FUELS
If you purchase goods from local vendors,
the product most likely has less distance
to travel than if you purchase from
national chains. So the price you pay
probably reflects lower transportation
costs. Another concern with longer
travel distances is climate change as
Purchasing from the local market
makes you aware of the people behind
the counter. You are more likely to feel
a connection to that local business than
you are a national chain. The success
of a local business can be a source of
pride in the community. And if a local
business is going through tough times,
loyal local customers are likely to rally
around to help them pull through.
PERSONALIZED SERVICE
The presence of a local owner provides
locals with someone who knows their
likes and dislikes. Therefore, they
may able to offer you a customized
product or alert you to when items
you are interested in are back in stock.
This improves the consumer’s buying
experience. You are no longer just one
of many passing through a register lane
but a valued customer whose repeat
business is appreciated. +