This year's Independents Week, Local First Arizona's annual summer celebration of local businesses, was a record breaker! For this year's campaign, presented by Credit Union West, nearly 500 businesses signed up to accept the 20% discount Golden Coupon, up from 300 businesses last year. With such a selection of local businesses, Arizonans were more excited than ever before to shop locally during Independents Week. Based on feedback from businesses, we can estimate that Independents Week had an economic impact of more than $97,000, more than doubling last year's impact!
[Tweet "2016 #IndieWeeAZ records $97,000 economic impact, doubling last year's impact! #BuyLocal @LocalFirstAZ"]
When you spend your money at a local business, up to four times more money stays in the local economy than if that money was spent with a national chain business. The tens of thousands of dollars that were spent with Golden Coupons (printed this year by Think! Graphic and Printing Solutions) will go towards the salaries of local business owners and their employees, supporting local jobs right in your community. Those businesses will spend their revenue on services and goods from other local businesses, and employees will use their salaries at local businesses as well. Tax revenues will be generated on these purchases to support important community initiatives and services. This "multiplier effect" keeps these dollars circulating in Arizona's local economy for an extended amount of time, having a huge impact on communities across the state. So the total economic impact of Independents Week is actually much greater than the $97,000, as the multiplier effect takes place!
Independents Week was also hugely successful in reminding people to shop local and support local businesses throughout the week and beyond. Thousands of people were exposed to the "Buy Local" message and Independents Week through our promotion and marketing efforts. #IndieWeekAZ was trending on social media all week long, with our top Facebook post getting nearly 20,000 views and 170 shares! Tons of people shared their Independents Week purchases and stories on Twitter and Instagram as well. Our website also saw nearly 150,000 people throughout the duration of Independents Week!
We were also prominently featured throughout many local media outlets, including AZTV's Morning Scramble, 3TV's Good Morning Arizona, Arizona Jewish Post, KVOA, KJZZ, KPHX, Casa Grande Dispatch, Ahwatukee Foothills News, Phoenix New Times, Downtown Phoenix Journal, and more!
We're always inspired to see everyone show their support for local businesses during Independents Week. The summer season can be slow for many local businesses, so it's especially important to think Local First with your purchases during the summer months. How you spend your money could go a long way to keeping your favorite local business in business.
How did you spend your Golden Coupons this year? Let us know in the comments section!