Responsible Gift Giving
In 2016, shoppers spent an average of $929 on presents.
Much of that money went to big retailers like Amazon, Target, and Walmart rather than small and local businesses.
This year, more than ever, small businesses need your support. The temptation of going to Walmart and buying a heap of small gifts for your family members might be hard to resist, especially with holiday ads filling the space between our favorite TV shows and Christmas music blaring on the radio. But I hope that you’ll consider buying one or two meaningful and special gifts for loved ones from a small or local business instead.
Small businesses are quite literally the backbone of our country:
There are 28.8 million small businesses in the US
They account for 99.7% of all businesses in the US
They were responsible for 64% of new jobs created in the US between 1993 and 2011
They donate 250% more than larger businesses to non-profits and community causes
If you spend $100 at a local business, roughly $68 stays in your local economy. If you spend the same at a large business, only $43 stays in your local economy.
What do we mean when we say “stays in your local economy”? Well, those small businesses often source materials and goods from other small businesses in your community. They hire from your community. They pay taxes in your community. They donate to community fundraisers and causes. They have a vested interest in bettering the community.
In this week’s episode of Do What You Can For The People, I chat with my dear friend, Diana Farmer, and a small, sustainable business owner, Terrance Williams, about some of the challenges and opportunities around responsible gift giving. We dive into shifting consumer preferences around our culture of consumerism, why it’s so important to support small businesses, and share some of our best tips for alternative (and creative) solutions to traditional gift giving.
THINGS MENTIONED
Retail spending in November & December: https://nrf.com/insights/holiday-and-seasonal-trends/winter-holidays/winter-holiday-faqs
Black Friday stats: https://www.pixlee.com/blog/10-stats-from-black-friday-and-cyber-monday/
Gift-giving guilt: https://www.bankrate.com/personal-finance/holiday-gifting-survey-november-2018/
Small businesses most vulnerable to COVID-19: https://www.mckinsey.com/featured-insights/americas/which-small-businesses-are-most-vulnerable-to-covid-19-and-when
Small business stats: https://grasshopper.com/resources/articles/small-business-saturday-statistics/
Consumer demand for transparency: https://www.businessofapps.com/news/consumers-demand-increased-transparency-from-brands-on-social-media/
USPS holiday shipping deadlines: https://www.usps.com/holiday/holiday-shipping-dates.htm
Increased demand for personalized gifts: https://www.entrepreneur.com/article/356056
Consumer trends on holiday gift giving: https://www.marketwatch.com/story/americans-are-fed-up-with-giving-one-another-gifts-for-the-holidays-2017-12-01
Gift exchange ideas: https://www.mydomaine.com/gift-exchange-ideas
DIY gift ideas: https://www.countryliving.com/diy-crafts/tips/g645/crafty-christmas-presents-ideas/
Sustainability in fashion: https://www.forbes.com/sites/ellevate/2019/10/07/why-sustainable-fashion-matters/?sh=280c791a71b8
GET IN TOUCH WITH DIANA
GET IN TOUCH WITH TERRANCE
Website: https://terrancewilliamsdesigns.com/
Instagram: @terrancewilliams_
LinkedIn: https://www.linkedin.com/in/terrance-williams-8385b8b4/
BE MY GUEST!
If you or someone you know would like to be featured on the show, please get in touch!