New Research Report: The Impact of Online Shopping on Local Businesses

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Just in time for the 4th annual BC Buy Local Week, LOCO BC launches a new research report highlighting a growing trend in online shopping, how BC businesses are competing online, and what motivates online shoppers. Here are some of the highlights from the report:

  • Online shopping is a growing trend in Canada. Sales are expected to double by in the next four years, from $22 Billion in 2014 to $40 Billion by 2019.
  • B.C. retailers cite “competition from internet retailers” as one of two top challenges they face (tied for top issue at 64% along with “big competitors receive better pricing & terms”).
  • Very few businesses feel they are marketing themselves effectively. The majority of them are spending less than $200/year on advertising.
  • 2 out of every 3 dollars spent online by Canadians goes to a U.S. retail website.
  • Cross border online shopping reduces the amount of money circulating in the local economy by up to 32%.
  • The higher the volume of online purchasing a consumer does, the more likely it is that they purchase with chains versus local businesses. Those whose online purchases make up less than
  • 50% of their overall consumer spending are spending approximately equal amounts with chains as local businesses. However, those spending between 75-99% online shop with chains twice as often as with local businesses.
  • Consumers value local. Of Canadian consumers surveyed, 69% valued Canadian ownership as “Most Important” or “Important” when shopping. Over 50% of consumers are seeking locally made products and nearly 50% prefer to buy from companies right in their Province or City.
  • Consumers would spend more money online with local businesses if they offered convenient shipping, e-stores and a better consumer experience navigating their online stores.

Download the report

Events

First Tuesday Monthly Business Mixers

Our events are hosted by our members. Think factory, store and warehouse tours with good local food, drink and business connections old and new. It’s a chance for our members to get to know each other, strengthen community and leverage our network to support a stronger local economy.

Events are on the first Tuesday of each month. Drinks and food are included in the ticket price. For event notifications, make sure you sign up for our newsletter (bottom right corner).  

6-June-2017 From Surviving to Thriving: A Dialogue on the Future of Granville Street’s Independent Businesses (Hungry Guys Kitchen 988 Granville Street, Vancouver)

LOCO and the Downtown Vancouver Business Improvement Association partner on this event, hosted by Hungry Guys Kitchen. Granville Street plays a vital role as Downtown Vancouver’s “Main Street”. It’s historic buildings, arts and entertainment venues, and its neon strip, welcome local and tourists alike into the heart of the city. During the 2010 Olympics, its pulse beat brightest, providing a place for gathering and celebration.

In recent years, some of the storefronts between Robson and Drake Street have remained empty. LOCO has been working with the DVBIA to investigate some of the issues for area businesses and leasing agents, in the hopes that independent businesses will continue to find affordable spaces there, and maintaining retail diversity.

In this fun, informal panel, LOCO will briefly review our research outcomes, and we’ll hear directly from the DVBIA, businesses, leasing agents and the City of Vancouver about the challenges and opportunities in the area. People are passionate about doing business on Granville St., and this evening is an opportunity to exchange ideas and help impact the way business is done in downtown Vancouver’s Entertainment District. Together we are building a vision for Granville – listen, get involved, and meet some of the entrepreneurs who have built or are investing anew in the future of Granville Street.

Program:
5:30-6:30pm  Mingling, Food & Drinks

6:30-7:30pm  Panel (details below)

6:30  Introduction & Review of Empty Storefront Research Findings, LOCO BC
6:40  Grit and Glory, a panel with DVBIA, Granville Street’s Championing Businesses, Leasing Agent and City of Vancouver Representative. The panel will discuss:
                            – Challenges & Opportunities for Granville Street
                            – Vision for the Future of Granville Street
                           DVBIA: Charles Gauthier
                           8th & Main: Scott Hilton
7:30-8:30pm Mingling, Food & Drinks
Register using the ticket widget below, or on the event page (mobile devices). Activated DVBIA members can contact William at for an exclusive discount code

Workshops

Ladner Area Businesses – Buy Local Marketing Workshop for Business

  • Learn About Your Community Impact
  • Connect Your Business To Consumers Who Love Local
  • Meet Other Ladner Business Owners

Businesses create jobs, circulate profits and support local service providers. Whether your business is locally owned or not, it has an impact on the economy of Ladner, the region and beyond. Join us to learn what community impact your business has, and how to market your local attributes to consumers who love local. Several businesses will be sponsored to complete a Community Impact Assessment with LOCO BC, and their story promoted in a local promotion.

Date: Thursday, June 15th

Time: 5:30 pm-7:30 pm

Location: Envision Financial – Ladner Community Branch (5155 Ladner Trunk Road, Delta)

Free of charge

Light Refreshments will be served

Register using the ticket widget below, or on the event page (mobile devices).