The Cost of Buying Cheap

Posted on Friday, August 27th, 2010 at 2:43 pm by Engine Communications

There is always a lot of discussion regarding where it is best to shop. We often see campaigns telling us to buy locally owned, but how much difference does it really make?

The majority of consumers look for the cheapest prices when shopping, or the store they perceive to have the lowest pricing. While it feels great to save a few dollars on a shopping trip, lets take a quick look at the actual cost of buying cheaply.

It only takes the most basic economics to figure out that larger chains and box stores can usually undercut the prices of an local or independent store. Here is where it gets tricky, larger stores do incredible amounts of market research to figure out what products people price compare most often, then they make sure those items are priced low, and they make up for these loss leaders in other hidden expenses.

But lets look at the cost apart from the bottom line of your bank statement. What most people don’t think about is the costs to their local community, the environment and their country’s economy. I find it ironic that the same people who talk the most about recession and economic downturns typically tend to be those the most guilty of causing the problem.

Every dollar you spend locally, in a locally owned businesses more than triples in its monetary benefit to your local economy. Local business owners are making long term investments in their/your community, the least we can do is support them and in turn support our own community. The more your purchase locally, the more it also reduces our impact on the environment. Every product or service we import, burns fossil fuels and costs money to transport. Really no matter how you look at it, buying locally is a win-win. The cost of not supporting local companies is simply too high; we voluntarily destroy the future of our own community and country.

I recently got married and I challenged myself to see how much I could support friend’s businesses and local businesses. Where are you shopping?

Check out some people who helped me out with the big day!

Amanda Benton
Thompson Tents
Glamour Junkie
Dresses & Dreams
Richard Davis
Jenna Simpson
Polish Day Spa
Rob Rapino
Studio DK
Avondale Florists

– Sandra

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