Canadians value local businesses, spend elsewhere
Canadian shoppers are aware of the important role that small businesses play in their neighbourhoods and local economies, yet they continue to spend more money at large retail establishments, according to a study led by the Yellow Pages.
A majority of respondents report a preference for shopping local and say they would rather live close to local businesses than large retailers. Still, 64 percent report spending more than $100 at large retailers in the last month, while only 40 percent report spending an equivalent amount at small businesses.
Sixty-seven percent of Canadians cite higher prices as a deterrent to shopping locally. Eighty-two percent cite contribution to local economy as the top advantage of shopping at local businesses.
The study also found that Canadians are aware that large-scale shopping events such as Black Friday and Cyber Monday create further competition for local businesses, yet 39 percent still plan to spend their money at large retailers during such events.
The Yellow Pages is a Canadian digital media and marketing solutions company that supports neighbourhood economies.
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