Local businesses are gaining traction among a growing group of U.S. consumers, 82% of whom report a preference for Shopping Local, according to a Mint survey released earlier this year.
For bricks and mortar operations and many digital sellers, the small business moniker is a strategic, if not an underutilized asset, according to Larry Berg, the CEO of CBD Marketing Hub l Cannabis Marketing-Hub.
Although the majority (97%) of the nation’s CBD and (many) Cannabis brands fit within the Small Business Administration’s (SBA) definition of a small business, only a very small minority capitalize on the asset.
The pandemic has shifted shopping patterns and consumer values, according to Berg, who notes although consumers value and appreciate Big Box chains and the convenience of mega malls, they want to protect a vital part of America’s economy – small businesses.
“Shop Small is no longer just a marketing slogan,” says Berg. “It’s a rallying cry and call to action across America.”
“Qualified Main Street merchants and e-commerce sellers should incorporate their small business status into their seasonal holiday campaigns and beyond, particularly this year,” says Berg, who reports that consumers are looking to make up for last year’s ‘lost’ holiday.”
“Whether online or in-store, shoppers are actively seeking authenticity,” Berg adds. “And they are willing to spend big with brands that deliver highly personalized messaging, services, products and experiences, particularly if they are a small business.”
Although many CBD and cannabis brands exude authenticity, originality and a passion for their products, their marketing and messaging efforts don’t always capitalize on these assets, according to the marketing expert.
“Brands shouldn’t hesitate to put themselves out there,” says Berg. “With the average American planning to spend $1,000 or more this holiday over the last year, there’s tangible incentive to invest in messaging local ownership.
“Small businesses are integral to America’s economy and among its most treasured assets,” says Berg. “And we are beyond proud to stand among them.”
Lead image courtesy of Flickr