M
ADE IN
MN
THE VALUE OF BUYING THE VALUE OF BUYING THE VALUE OF BUYING THE VALUE OF BUYING LOCAL THIS HOLIDAY S LOCAL THIS HOLIDAY S LOCAL THIS HOLIDAY S LOCAL THIS HOLIDAY SEASON EASON EASON EASON
Lee Egerstrom
●
Minnesota 2020 Fellow November 20, 2007
I
NTRODUCTION
&
K
EY
Buying Minnesota-made prodfamilies spent 25% of their holiday seffect would feel more like a tidal wav reduced “carbon footprint,” an increa
conscious effort to buy Minnes
•
Even as little as a 10 percent dentrepreneurs adding jobs and
•
The National Retail Federatioto $474.5 billion, which woulof the national retail market is
•
When you spend $1 at a locallocal economy. In contrast, w home.
1
•
Minnesota small business own
Minnesotans who buy Minnesot
•
The typical holiday meal travepercentage of holiday gifts go
•
Buying local reduces packagin
1
Andersonville Study of Retail Economics, b2003.
F
INDINGS
______________
u
cts will improve Minnesota’s economy and eopping budget on Minnesota-made goods, the. Additionally, Minnesota-made goods represingly important Minnesota family lifestyle va
ota made products benefits the states ec
iversion of the Minnesota’s retail market to loboosting business with suppliers.has predicted a 4 percent increase in Novebe the weakest seasonal growth in five years.2 percent, translating to $9.49 billion.independent business, an average of 68 centshen you spend $1 at a national chain, only abers say they can create more jobs if sales incre
made products save money and carbon
ls about 1,200 miles from farm to Minnesotat least that far, with many arriving on a fast band transportation costs.
Civic Economics, October 2004 and MN Dept. of Rev
1
____________
nvironment. If Minnesotae small business ripplesent a dramatically lue.
nomy
cal products would haveber-December store salesMinnesota’s usual shareis re-circulated into theout 43 cents stays atse this holiday season.dinner table. A largeoat from China.
enue, Gross Retail Sales for
C
LOSE TO
H
OME
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The typical holiday meal travelspercentage of holiday gifts go at least tCome to think of it, some of ththanks to burgeoning product recalls.There is a better way to approaafter Thanksgiving: Buy local. Supportin Minnesota.“We [in Minnesota] don’t do Waskiewicz, executive director of thehelp you give your far-flung friends anIt isn’t clear just how big a seasconsensus forecast for seasonal retail salUniversity of St. Thomas researpercent this year. That negative forecaincrease nationwide in November-Decgrowth in five years.“That might be a bit optimisticeconomy, rising energy costs and problyear, he said.Minnesota’s usual share of thebillion sloshing through cash registers t
Homemade marshmalHomemade marshmalHomemade marshmalHomemade marshmallow low low lows from Laura’s Cans from Laura’s Cans from Laura’s Cans from Laura’s Can
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about 1,200 miles from farm to Minnesota diat far, with many arriving on a fast boat fromis year’s gifts will probably make round trips froh the annual holiday shop-athon that starts at sour own economy this year by buying and giviuch to support local businesses like some otheretro Independent Business Alliance nonprofitOther states opromotions, business“Wisconsin docheese promotions,” nmarketing professor atThomas in the Twinand promotion of Mimean more profits, anfor the holidays, he adToday, Minnedirectory of Minnesotproducts that could filcover the floor aroundholiday feasts for famirelatives a taste and touch of Minnesota this hnal market there might be for Minnesota-madees, either in Minnesota or across the nation.chers are forecasting that Minnesotans will cutt contrasts with the National Retail Federationmber store sales to $474.5 billion, which woul,” said Minnesota state economist Tom Stinsonems with home mortgages all point to consumeational retail market is 2 percent, Stinson said.his holiday season if the retailers’ forecast prove
y
in St. Petery in St. Petery in St. Petery in St. Peter
2
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ner table. A largehina.m far-off places and back,tores and malls on the day g high-quality gifts madestates,” said Melissaroup in Richfield.tdo us with holiday giftnd trade observers agree.es a better job with itsoted David Brennan, athe University of St.ities. Effective marketingnesota products wouldd more jobs, staying homeded.sota 2020 unveils an onlinea entrepreneurs who offerl stockings by the fireplace,Christmas trees or add toy and friends. It can alsooliday season.products and there’s nooliday spending by 1prediction of a 4 percentbe the weakest seasonal. Minnesota’s laggingrs reining in spending thisThat would mean $9.49s accurate.
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Made in MN: The Value of Buying Local this Holiday Season
Buying Minnesota-made products will improve Minnesota's economy and environment. If Minnesota families spent 25% of their holiday shopping budget on Minnesota-made goods, the small business ripple effect would feel more like a tidal wave. Additionally, Minnesota-made…
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