By Scott Thomas
KFVS12 Vice President and General Manager
Tis the season to do some serious shopping. Black Friday has become an American shopping tradition. Last year we spent more than $10 billion on Black Friday, and more than $3 billion on Cyber Monday. That's a huge chunk of change.
There's no doubt, big box stores and online retail giants can offer you deep discounts locally owned stores may not be able to compete with. But the benefits of buying local by far outweigh the money you save at the register. Consider this: buying local supports your schools, your local police and fire departments, and most of our neighbors. What you pay in sales tax stays right here in your community instead of lining the pockets of another overpaid CEO or internet millionaire far from here.
But the benefits to your hometown go well beyond that. When you buy from a locally owned business 68 out of every 100 dollars you spend stays in your community. If you buy from a local branch of a big box store only 43 dollars out of 100 sticks around. And when you buy online almost all that money is going out of town.
In fact small businesses provide 55% of all jobs and 66% of all new jobs since the 1970's. Small businesses are truly the backbone and engine of our local communities and economy. We must support them. Now I'm not saying don't shop at the big box stores this season because you will find me there too. But this holiday season share the love with your locally owned stores. And before you click "buy now" and send your money out of town, shop around. You might be surprised to learn some retailers will price match what you find online so you can save big and still support locally own business.
I'm Scott Thomas, and that's our ViewPoint.