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Local economy can use those holiday dollars

Although bargain hunters have been haunting local stores for some days and even weeks now, it can be argued that the offical start of the Christmas shopping season got started last Friday morning in an annual ritual generally known as “Black Friday.”

For a lot of retailers, the Christmas buying season is a significant portion of their annual sales. And this is much more than simply profits into someone’s pocket.

The Associated Press reports the holidays can account for more than half their annual sales. Holiday retail sales are expected to increase between 3% and 4% in 2023, according to trade group the National Retail Federation.

But the total value of those sales will grow more slowly because inflation has moderated. In 2022, sales jumped 5.3%, according to the NRF.

Early indications are that sales have kept pace with prior holiday seasons, with consumers making purchases that help them temporarily put aside their financial concerns, noted AP.

Shopping locally supports the economy of Superiorland. It helps keep our neighbors, friends, all of us employed.

And, of course, a continuing tough economy only serves to underscore its importance.

We, at The Mining Journal, ask local residents this Christmas shopping season to think before sending cash to far away businesses which do nothing to support the local economy.

Spend your money locally this holiday season.

It’s not an overstatement to say the job you save by doing so just might end up being your own.

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