To one business owner, rising costs and high inflation aren’t going to stop people from supporting local businesses.
It’s why she’s bracing for her busiest time of the year: holiday shopping.
“Small businesses make up the community and the vibrancy in our downtown and the other neighbourhoods,” said Tara Davis, owner of the Winnipeg-based Tara Davis Boutique.
“I think lots of people are focused again on shopping local and a lot of people really want to add to the vibrancy of downtown. We are seeing that a lot of shops have closed, and people want the ones that are there to still be there.”
Davis said she’s hoping for a repeat of a great holiday season last year. At the time, she found that a lot of people wanted to support local. As a business owner, she takes pride in selling other local products.
“The best part of my business is getting to work with local makers,” she said.
Davis said she first opened the business in 2010 in British Columbia. She moved back to Winnipeg in 2012 and opened the store here soon after. What started as merely a studio selling products made by her friends has now turned into a store offering products from more than 100 Canadian vendors.
The significance of shopping local, she said, is such that the support goes not only to the business but to the city and community as well.
“In all the shops you’re actually meeting with the owner of the stops or a small staff and all the money you’re putting into the businesses, much of it is going back into the city as well,” Davis said.
‘The big win’
One expert believes the continuing effect of inflation suggests that businesses could be experiencing a softer consumer shopping period this year. Retail analyst Bruce Winder said it is harder for consumers to support local businesses with affordability being such a big concern.
“There’s a lot of people who want to buy local, but unfortunately some people have had a really hard time. Their heart wants to buy local, but their pocketbook says, ‘I can’t afford to buy local. I have to buy from the big box store to get what I need at the lowest price,'” Winder said.
He noted that through shopping locally, consumers help to keep local communities and neighbourhoods “vibrant,” while at the same time stumbling on unique items.
“The big win is you’re helping to support local people,” Winder said.
The analyst further stated that people are more likely to spend on experiences rather than physical products, such as consumer electronics or home improvement items. A possible reason, he added, could be that consumers already spent so much on such products during the pandemic.
“I think the most important thing is to set a budget before you shop,” he said. “Don’t get emotionally involved with all the hype of the day or the season. Be rational.”
— with files from Global’s Teagan Rasche.