Each year brings more national chains displacing locally-owned businesses throughout the country.
Local business owners are more likely to give back to your community. Beyond actual dollars being kept within your local community – which is significantly higher when dollars are spent at a local business vs. corporate one – small business owners are also more likely to “do good” for your community, as well. Small businesses deliver community character and economic advantages to the town they are positioned in, but also strengthen partnerships among neighbors, residents, other small business owners, community leaders and even schools by offering social and economic relationships. Many also support local causes, creating even more good within a community.
When you consider brand names like Lladro, Swarovski, or Michael Aram you have to also consider that the prices identified on them for sale are identified by the vendor – not the store. With some exceptions, stores primarily have no control over a product price but rather are provided a MSRP (Manufactured Suggested Retail Price) that tells them the price the product should be sold at. Over time, if the product doesn’t sell or a store has a promotional event taking place, this price may be lowered. But generally speaking, vendors want their products sold at their suggested rate, therefore retailers are not encouraged to lower them unless it’s discussed in advance – such as stores like Nordstrom do for their famous Anniversary Sale.