Tom Garrity

Posts Tagged ‘Small business’

Dancing on the Graves of NM Small Business?

In Messaging on August 17, 2017 at 1:48 pm

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The sticker on the morning newspaper (yes, I still get home delivery of two newspapers) caught my attention, but not the way advertisers intended.

Despite economic revivals in surrounding states, New Mexico continues to be mired in a multi-year recession. Some franchise stores have struggled, some have succeeded and others have even opened in New Mexico during that time.  Small businesses have been hit the hardest during this time.

Back to the sticker.

“we hear a store closed in your neighborhood. We’ve got you covered. KOHL’S® the best brands. The best savings. The best place to shop.”

The sticker left me with the impression that KOHL’S® is dancing on the graves of New Mexico small business.

However, the misworded ad provided a chance to do a quick dive into the 2017 Garrity Perception Survey (#GPS17) to see what kind of impact National Franchise stores have in New Mexico.

Overall, New Mexicans generally prefer to purchase products and services from locally owned stores over national franchise stores (41% to 8%).

Before small business starts doing high fives, nearly half of all residents (47%) say it doesn’t matter.  And, when we asked residents in 2013 what their favorite local store was the number one response was Walmart.

And, it doesn’t get much better.

The #GPS17 also surveyed New Mexico residents on how often they make purchases in national and local stores.

When making purchases in-store at local stores, 44% of New Mexicans do so at least once a week with 21% saying they do so several times a week. When it comes to making in-store purchases at national retail stores, 38% of New Mexicans say they do so at least once a week, and another 30% do so a few times a month.

While residents are preferring to shop local, they are shopping at national franchises more often each month.

In the coming months, The Garrity Group will be taking a closer look at how residents shop through online and mobile devices in addition to other buying patterns.  This misstep by KOHL’S® caught my attention and presented an opportunity for context.

The Garrity Group commissioned Albuquerque-based Research & Polling to conduct the Garrity Perception Survey from February 8-14, 2017. A total of 403 adult New Mexico residents were interviewed by telephone (both landlines and cell phones), providing a 95 percent level of confidence. For more information and analysis – or to request a copy of the Garrity Perception Survey 2017 – visit http://www.garrityperceptionsurvey.com.

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