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The majority of Americans are willing to spend more, on average $150 more a month, to keep their Main Streets thriving.
According to recently published research that we conducted in partnership with Wakefield, consumer motivations paint a hopeful picture for small businesses. And at Indie Retail Fest in Denver, Sarah Stuard, senior retail account executive at Faire, shared how shop owners can use tools like Faire to take advantage of consumers’ appetite for local shopping.
As a senior retail account executive, Sarah has partnered with both sides of Faire’s marketplace over the years and specializes in the retailer experience, where she helps shop owners discover and thrive on the Faire platform. In her session, Sarah shares:
- Broader industry trends and how they come to life in Denver and throughout Colorado
- The importance of connecting with your customers and using that engagement to curate your store, connect with the community, and create “third spaces” (outside home and work)
- How you can use a newsletter to drive loyalty and sales
- The importance of not only getting involved in the community but also showing how you’re engaging with local members and other retailers
- A refresher on different tools and operational tactics that you can access through Faire, including POS integrations, 60-day payment terms, free returns on opening orders, and more
63% of Americans are willing to spend more at local stores, and nearly 80% of consumers said that they’re willing to travel half an hour to make a purchase in a local store versus just buying something online.
Recent Faire research in partnership with Wakefield
In Forerunner’s 2024 Consumer Report, one of the biggest takeaways is that in 2023, small- and medium-sized businesses represented 44% of America’s GDP. When consumers spend money at local businesses, a significant portion—60 cents of every dollar—remains in the local community. This contrasts sharply with national retailers, where only 30 cents of each dollar spent stays local.
Small businesses are the lifeblood of local communities, driving economic growth and providing memorable experiences for shoppers. In a landscape where consumer trust in small businesses is uniquely on the rise, leveraging the right tools and strategies can set your store apart.
