WVXU: Just like businesses, shoppers need to 'pivot' too

In order to keep local favorites afloat, shoppers must change their behaviors

Local businesses are the bedrock of the economies of their respective communities. But the lean times created by the coronavirus pandemic has made it more important than ever before to shop local. 

In a news piece about the importance of shopping local, Cincinnati NPR affiliate WVXU turned to the expertise of University of Cincinnati associate professor Tom Dalziel, associate professor of strategic management and entrepreneurship at UC's Carl H. Lindner College of Business.

Dalziel, former head of UC's Center for Entrepreneurship and Commercialization, told WVXU that 90-95% of businesses in the U.S. economy are small- or medium-sized. Even through recessionary periods, those businesses create 67% of new jobs. During normal economic periods they create 70-75% of new jobs, he said.

"So really, the backbone of our economy and of job creation in our country are these small businesses," he says. "And therefore, as we look at our retail purchasing patterns, we need to be thinking about the impact this has on our neighbors and our community and the positive difference we can make by buying small and buying local."

Shopping local and shopping online aren't necessarily mutually exclusive, Dalziel said. Roughly half of all Amazon sales are through third-party retailers, and shopping directly from a small business's website cuts out the middle man. Websites such as Etsy are a good way to support local makers, he added. 

Featured image/Tim Mossholder/Unsplash

Related Stories

1

Clean Earth Rovers cofounders named to Forbes 30 Under 30 list

November 30, 2023

A pair of graduates of the University of Cincinnati’s Venture Lab program were recognized as being among the top entrepreneurs in North America as part of the 2024 Forbes 30 Under 30 list. Clean Earth Rovers cofounders Michael Arens and David Constantine were named to the 13th annual Forbes 30 Under 30 list in the energy category.

3

UC Learning Lab inspires College of Medicine to SIT

November 29, 2023

In a convergence of academic integration, the University of Cincinnati's renowned colleges — Design, Architecture, Art, and Planning, Lindner College of Business, College of Engineering and Applied Sciences and College of Medicine — recently joined forces at the 1819 Innovation Hub for an ideation session that exemplifies the institution's commitment to interdisciplinary collaboration.

Debug Query for this