Residents can boost Michigan’s economy by $1.5 billion simply by shifting 10% of their spending to local retailers. This is the compelling potential revealed in the annual Buy Nearby economic study, conducted by the Michigan Retailers Association (MRA) and Public Sector Consultants (PSC).
The study, leveraging 2023 and 2024 data from the U.S. Census and Bureau of Labor Statistics, illustrates that this 10% increase in Michigan-based sales could simultaneously generate 15,367 new jobs and enhance labor income by over $690 million.
"Supporting local businesses not only propels economic growth but also cultivates job creation and community well-being," said William J. Hallan, president and CEO of the Michigan Retailers Association. "Let’s embrace this opportunity to fortify our state by shopping Michigan-based retailers. Together, we can create an impact that goes beyond just financial gains."
Launched in 2013, the Buy Nearby campaign aims to keep Michigan’s money within the state. When shoppers Keep Your Money in Michigan™, they support essential local businesses that employ your neighbors, contribute to community fundraisers, and sponsor local sports teams.
From October 4-6, retailers across Michigan will celebrate Buy Nearby Weekend, an annual event encouraging consumers to shop local. During this period, many retailers will offer special events or sales to enhance the shopping experience.
As part of the celebration, MRA will host a Willy Wonka-themed Golden Ticket contest. One lucky MRA member will receive a Golden Ticket in the mail, redeemable for a $750 gift card. Additionally, a non-member will also receive a Golden Ticket, redeemable for a one-year free MRA membership. Businesses must order a free Survival Kit in order to participate in the contest.
PSC conducted the Buy Nearby analysis by estimating the economic benefits to Michigan from consumers switching 10% of their purchases from remote sellers to local retail stores. The study also examines the indirect and induced jobs and economic activities related to retail industry spending and local expenditure by retail employees in Michigan. PSC utilized national-level data to generate these Michigan-specific estimates.
Michigan Retailers Association represents more than 5,000 member businesses and their 15,000 stores and websites. For additional information, visit Retailers.com.
The study, leveraging 2023 and 2024 data from the U.S. Census and Bureau of Labor Statistics, illustrates that this 10% increase in Michigan-based sales could simultaneously generate 15,367 new jobs and enhance labor income by over $690 million.
"Supporting local businesses not only propels economic growth but also cultivates job creation and community well-being," said William J. Hallan, president and CEO of the Michigan Retailers Association. "Let’s embrace this opportunity to fortify our state by shopping Michigan-based retailers. Together, we can create an impact that goes beyond just financial gains."
Launched in 2013, the Buy Nearby campaign aims to keep Michigan’s money within the state. When shoppers Keep Your Money in Michigan™, they support essential local businesses that employ your neighbors, contribute to community fundraisers, and sponsor local sports teams.
From October 4-6, retailers across Michigan will celebrate Buy Nearby Weekend, an annual event encouraging consumers to shop local. During this period, many retailers will offer special events or sales to enhance the shopping experience.
As part of the celebration, MRA will host a Willy Wonka-themed Golden Ticket contest. One lucky MRA member will receive a Golden Ticket in the mail, redeemable for a $750 gift card. Additionally, a non-member will also receive a Golden Ticket, redeemable for a one-year free MRA membership. Businesses must order a free Survival Kit in order to participate in the contest.
PSC conducted the Buy Nearby analysis by estimating the economic benefits to Michigan from consumers switching 10% of their purchases from remote sellers to local retail stores. The study also examines the indirect and induced jobs and economic activities related to retail industry spending and local expenditure by retail employees in Michigan. PSC utilized national-level data to generate these Michigan-specific estimates.
Michigan Retailers Association represents more than 5,000 member businesses and their 15,000 stores and websites. For additional information, visit Retailers.com.
