For some, the shop-local experience is worth paying a few dollars more, even if an online search can turn up a cheaper price on an item.
But while savings may be found if your’re only searching the price tag of a particular item, the bigger picture could sway even the most cost-conscious person of the benefits to the “buy local” argument. Here’s why:
Follow the money
Studies consistently show that money spent locally tends to remain in the area, says Matt Cunningham of nonprofit Civic Economics in Evanston.
His group’s most recent stats show that 52.3 percent of every dollar spent at an independent retailer remains in the local economy, and 15.8 percent of every dollar spent at a local branch of a chin retailer stays local.
Each dollar that stays close to home helps keep you and your neighbors employed and boosts the local tax base, which in turn helps fund schools and community services. and all those factors helps support housing prices, benefiting area homeowners, says Olivia LaVecchia of the Institute for Local Self Reliance, Washington, D.C.
In contrast, when you buy online, your purchase is pulled off the shelf of a warehouse (which might be hundreds of miles away), piled into a truck and shipped, eventually arriving at your front door.
It’s difficult to estimate the local impact of the massive increase in online shopping, Cunningham says, because it depends whether warehouses are located nearby. But even if the delivery route wasn’t long, the impact of an online purchase is significantly less than any spending in-store, he add.
The farther removed people are from seeing their actual dollars change hands, the less aware they are of the fact they are even spending money, says New York University marketing professor Priya Raghubir.
While paying in cash is more painful than using a card, there are now options that remove shoppers even further.
For example, online retailers encourage customers to register at the site, and store their shipping and credit card information. Then the pain of even inputting a card number is eliminated, because all the purchase takes is one click to place an order.
So, if you want to enjoy picking out the perfect home furnishings without incurring a jolt when your credit card bill arrives, consider drawing up a budget and stocking your wallet with cash, Raghubir advises.
Then, head to your local shops where you can see items up close and keep spending to a comfortable level.
Essential Facts about the new DOL Overtime Exemption Rules
by Samantha Yurman, JD,
As published in the Summer 2016 Issue of ACCE Chamber Executive Magazine
In May, the U.S. Department of Labor (DOL) announced the publication of a final rule amending the white collar overtime exemptions to the Fair Labor Standards Act (FLSA). The final rule, increases the threshold salary for the exemption to $913 per week ($47,476 per year), the standard salary level at the 40th percentile of earnings of full-time salaried workers in the lowest-wage Census Region (currently the South). The new rule also increases the total annual compensation requirement needed to exempt highly-compensated employees (HCEs) to $134,004 per year and established a mechanism for automatically updating the salary and compensation levels every three years to maintain the levels at the above percentiles and to ensure that they continue to provide useful and effective tests for exemption. READ MORE
When you hear the word, what do you think of? If your answer is Steve Jobs, Elon Musk or Google, you’re not alone. In an ever-changing world, innovation is the key to staying ahead of the game. By sitting back and sticking with what may have worked a couple years ago, you’ll quickly find yourself left behind by the people who knew better than to become complacent. Complacency is one trait you won’t find an innovator. They are always looking for ways to improve the way we do things, whether it’s a new product, a new process, or just a better approach altogether.
At Leadercast, we celebrate The Brave Ones who, with unrelenting boldness, dared to challenge the status quo. These people are who have paved the way for life as we know it. Innovation isn’t something that happens by accident. The greatest innovators in history were intentional about the change they wanted to see.
So what exactly does it mean to be an “innovator?” Three things we’ve noticed that separate the innovators from the rest of the world: vision, bravery and accountability. The greatest innovators of our time were unapologetic about their vision because they could see something the rest of us couldn’t. They were usually their own toughest critics and were constantly evaluating how they could do better. One of the most nerve-wracking things you can possibly do is put your life’s passion out there to be subject to the criticism of the world. Instead of worrying about the “what if’s,” they had the courage to put it all on the line. And we are thankful they did.
Additionally, it’s important to know that an innovator isn’t someone who never fails; it’s someone who has probably failed time and time again, but refuses to accept defeat. Take Steve Jobs for example, he was actually fired from Apple in 1985. He admitted in his famous 2005 Stanford speech that it was a very public failure, but without that event, he probably wouldn’t have gone on to be as successful as he was.
If there is one thing you can always count on, it’s that things will change. If you’re not on the front end of that change, you must at least be ready to embrace it. Read more about innovation in our free report or hear it first hand from innovators around the world on Leadercast Now.
Advocate Good Shepherd Hospital Presented with Prestigious Lantern Award from the Emergency Nurses Association
Barrington, Ill – Advocate Good Shepherd Hospital has been recognized for its commitment to exceptional patient care as a recipient of the Emergency Nurses Association Lantern Award. The award recognizes a select group of emergency departments that exemplify exceptional practice and innovative performance in the core areas of leadership, practice, education, advocacy and research. All emergency departments are eligible to apply for the Lantern Award, but those selected must meet the highest excellence standards. The Good Shepherd Hospital ED is only one of 11 hospital EDs nationwide to receive the Lantern Award this year.
Inaugural Servant Award Goes to Local Business Woman
Crystal Lake, IL, May 28th 2015—The Inaugural Tom Stock Servant Leadership Award was presented to Katie Van Diggelen, owner of Achieve Footwear and New Balance Crystal Lake, at the Crystal Lake Chamber of Commerce 75th Annual Dinner Party. The annual dinner is designed to celebrate the history, leadership and success of local businesses leaders. Men and women who dedicate their time to improving their communities.
Such a man that embodied those values was the late Tom Stock, passing at 55 years of age. Tom was as dedicated a man as they come, having spent his entire working career at Northwestern Mutual and his personal life with his one love of 30 years, Julie. Religious education, Salvation Army bell ringing, serving on zoning boards, raising funds and volunteering with the Crystal Lake Chamber of Commerce are just a few of the many ways Tom served his local communities. A person that touched more lives than he likely realized.
So too is our award winner Katie. Citied at the event was Katie’s volunteering in the community and helping tirelessly in charity work for; Girls on the Run, Babe Ruth, seniors, veterans, students, park districts, com-munity harvest, raffles, expos, party in the plaza and local library reading programs, as well as a dedicated presence in the Crystal Lake Chamber of Commerce. Much like Tom, Katie literally does too much to adequately represent the time and energy put into their local communities and all the individuals they help.
If this short write up reaches you and you are someone that is either already dedicating your energy, time or money for a good cause or are a person looking to get involved, then please reach out to Katie and her staff (815) 444.7239, the Crystal Lake Chamber of Commerce (815) 459.1300 or you may follow the wishes of the family and direct memorials to the Tom Stock Educational Fund at Chase Bank 1000 S. Algonquin Road, Algonquin.
Please feel free to contact us with ideas or ways we can partner for your Fundraisers or Charities!
New Balance Crystal Lake