Online shopping is much talked about for its convenience, wide selection, and competitive prices.
However, they only account for about 16% of retail sales.
And this is positive, since physical stores, like the alternative, offer many important products that are not available online. Especially the companies that make up the downtown business districts of Nassau County, Long Island.
This is a timely reminder for local residents to keep in mind during the holiday shopping season, as it is crucial for many businesses to have a successful year.
Let’s consider all the benefits that independent shops and restaurants offer:
– Income:
Independent businesses and restaurants retain a significantly larger share of revenue in the local economy compared to national chains. Studies show that independent stores recirculate between 45% and 65% of their revenue locally, compared to chains, which typically generate between 10% and 20%. This means that every dollar spent at a local store generates more local economic activity, jobs and tax revenue.
– Jobs:
Small independent businesses and restaurants provide first jobs for many teenagers and young adults. They also offer flexible work environments for part-time and second-job employees.
– Sense of community:
Chains make all towns look the same. Mom-and-pop shops and independent restaurants define the flavor, personality, and walkability of a neighborhood. They create places where residents interact.
– Sense of belonging of a people:
This is often built around its independent cafes, bookstores, boutiques, hardware stores and family restaurants.
– Support to the local community:
Independent businesses and restaurants also support local causes, school fundraisers, youth sports teams and nonprofit organizations. They join chambers of commerce that organize community events, such as street fairs, and service organizations such as Rotary and Kiwanis, which provide assistance to dozens of local organizations. We wouldn’t expect Amazon CEO Jeff Bezos to do the same.
– Support to commercial districts:
Foot traffic from small businesses also increases street activity, makes downtown areas feel safer, and encourages investment. These districts are the foundation of downtown revitalization efforts in places like Great Neck, Port Washington, Roslyn, Mineola, Glen Cove, Hicksville, Farmingdale and other communities in Nassau.
– Products:
Independent retailers also offer unique products, personalized service, and alternative pricing. This keeps large chains and online platforms competitive, helping to prevent market concentration. Much of the innovation in retail and restaurants originates in small, independent businesses before being copied by national companies. Independent retail businesses are also rooted in the community. Because they are resident-owned, profits and decision-making stay local, not in another state or at corporate headquarters.
– Service:
Perhaps most important to consumers is service. The operators, who own their own businesses, offer a personalized service not found online or in malls. They are members of the community who have a strong incentive to maintain a good reputation.
This doesn’t mean we shouldn’t enjoy the obvious benefits of online shopping or the shopping experiences that Nassau County shopping centers offer.
However, we must not forget the many independent businesses and local restaurants that offer products that cannot be found anywhere else and that are essential to the downtown business districts.
