Black Friday and Cyber Monday may draw many shoppers to big box stores, but local shops are being highlighted this week during the fourth annual Buy Local Week.
The event, organized by non-profit Loco BC, puts the spotlight on small businesses and the benefits of spending money at B.C.-based businesses.
A recent Vancity report showed that local stores are losing out to online shopping. According to the report, this year $1.6 billion will be diverted from brick-and-mortar stores to online shopping, and local retailers are lagging behind when offering online shopping options.
The study also found that British Columbians check out products at local stores, then buy them through an online retailer, at a higher rate than other regions in Canada.
Loco BC and Vancity argue that buying from local businesses recirculates more money into the B.C. economy and contributes more to the local tax base.
Today Loco BC is holding an event focusing on how local retailers can tap into online shopping.