- Market researcher says a “shop local” message should be a key part of independent retailers’ post-pandemic strategy
- Surveys indicate that consumers are looking to break reliance on larger companies, with some explicitly looking to give more support to local businesses
- Small businesses are increasingly forming networks and other alliances for support and advocacy
Summary by Dirk Langeveld
Independent retailers should continue pushing the “shop local” message after the COVID-19 pandemic to remain competitive against larger retailers and e-commerce companies, according to a market researcher and senior Forbes contributor.
In a recent article, Pamela N. Danzinger says major companies gained a stronger market share as government-mandated lockdowns closed smaller retailers and drove consumers to online companies or big box stores better able to adapt to pandemic conditions. However, she says many consumers are also eager to support their local businesses as well.
- Some surveys show that consumers want to reduce their reliance on major retailers and e-commerce giants, especially Amazon
- One survey finds that consumers were motivated more by the desire to find better quality products, but 12 percent said they want to offer more support to other retailers
- Small businesses are increasingly forming alliances and networks to lend each other support and advocate on key issues
- Small Business Saturday became a year-round campaign last year to encourage consumers to support local businesses during the pandemic