We’ve all heard it before, “Shop Local,” but have you ever stopped to ask why? Each holiday shopping season, thousands of residents pile in their vehicles and venture out to shop for holiday gifts, or they jump on their smart phone and order all of their gifts from an out-of-state retailer.
For many, it’s a tradition. It’s a shopping experience. It can be fun and even convenient, but it hurts the local economy.
Imagine, if you will, that between Thanksgiving and Christmas 50,000 Eastern Idaho residents shop online for holiday gifts. If those residents spend just $100 per person on gifts, that is a loss of $5 million in gross retail sales. That’s a lot of stocking stuffers! But what if they just 5% of those 50,000 shoppers decided to stay local and invest $100 of their hard-earned money back into the communities where they live? They would inject $250,000 back into the County. The change in shopping behavior would have a positive impact on our local economy. Many national studies have shown that a dollar spent in the local economy can turn over as many as four times. Using that estimate, the $250,000 in new local spending could become $1 million as it works its way through the hands of local residents.
To showcase the impact of local holiday spending, the Idaho State Journal, is launching the $2 Bill Shop Local Challenge. We are challenging local residents to take $100 that they would typically spend on holiday gifts online or outside our county and spend it right here. We’re not saying spend more; we’re saying spend local. We are asking those who agree to participate to convert their $100 commitment into $2 bills as part of their change to make a conscious effort to put them back into the local economy.
To accept our challenge, log onto www.idahostatejournal.com/2buckchallenge/ . As a supporter of the $2 Bill Shop Local Challenge, your name will be published several times throughout the holiday season as part of our campaign to encourage local holiday spending. Once you sign the online commitment form, simply stop by our participating financial institutions and they will convert your $100 into $2 bills for free. Please don’t wait until the last minute, as the supply of $2 bills is limited.
You are committing to spend $100 in $2 bills locally in our community to show your support for our local businesses…Thank You!
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