Are you on board the shop local movement that’s rolling across Canada?
The encouragement to support neighbourhood businesses is coming from all quarters as the economy struggles to emerge from the financial devastation of the COVID-19 pandemic.
Whether it’s provincial and municipal initiatives, chambers of commerce programs, highly publicized incentive campaigns backed by financial giants, or small signs in front of individual businesses, the message is the same: Show your local entrepreneurs some extra love during these difficult times — it’s important for helping the economy recover.
While recent polls suggest most Canadians support the idea, actually getting people to prioritize shopping locally over scoring the best deal and the convenience of shopping online is a tough sell during a pandemic, some experts say.
Consumers lack confidence
The pandemic has left many people out of work and feeling insecure about their finances, which could make finding the lowest prices more important than supporting local small businesses.
The Bank of Canada’s most recent survey of consumer expectations showed that virtually all indicators have deteriorated due to the impact of the pandemic, including people’s expectations for wages, spending, labour market conditions, inflation and growth in house prices.
“Everybody is trying to find a deal because they don’t know how long their money is going to last,” said economist Armine Yalnizyan.
And maintaining low prices can be a challenge for small enterprises, she said.
“They have a hard time providing deep-cut bargains, especially now.”
A billboard ad from American Express encouraging shoppers to spend locally is on display over Toronto’s Yonge-Dundas Square on Aug. 4. (Evan Mitsui/CBC)
Still, surveys done since the pandemic began suggest there is growing support for small businesses in this country. A key finding from a Leger poll conducted in April was that “Canadians say they are buying local products more often or for the first time.”
American Express Canada said 83 per cent of participants in an online poll in June agreed it was time to support the small business community, while 76 per cent said they were “determined to shop local more than in the past.” The poll wasn’t randomized, but a comparable random poll would have a margin of error of four percentage points, 19 times out of 20.
Who says they don’t support small businesses?
But Wayne Smith, a professor at Ryerson University’s Ted Rogers School of Management who specializes in consumer behaviour, says what people tell researchers can differ from how they actually behave in the real world.
“It’s kind of like asking if people like puppies,” he said. “Everyone’s going to say they like puppies. But how many people go out and get a puppy?”
Smith compares the shop local phenomenon to consumers committing to shop at stores that specialize in environmentally friendly, sustainable products.
“Some do it, but it’s a relatively small proportion of the population,” he said. “Otherwise, Walmart would be out of business.”
People walk and shop in Ottawa’s ByWard Market on June 25. (Hugo Belanger/CBC)
Buying decisions are based on “perceived value,” Smith said. Locally sourced goods or services must be of equal or greater quality than those found elsewhere if consumers are going to follow through on their good intentions, he said.
Julia Gray of Toronto said she and her family are happy to shop locally as much as possible and support small businesses instead of large corporate chains.
However, as an artist, she is also very value conscious, she said.
“My income is always a bit in flux, so, as a family, we’ve learned to be careful about our spending.”
Julia Gray of Toronto shops regularly at her local green grocer. She said she prefers to support small businesses instead of large corporate chains, and the pandemic has made her even more selective about where her money goes. (Submitted by Julia Gray)
Even so, the pandemic inspired her to make a more concerted effort to support her neighbouring businesses, she said.
“Instead of ordering from Pizza Pizza or some other corporate pizza place, let’s order from the local place where their kids go to school with our kids,” she said. “These places won’t survive if we don’t help them.”
Amazon sales booming
Gray says small businesses can also be preferable from a health perspective.
“We have folks in our family who are immunocompromised,” she said. “We don’t want to go where there are big groups and you can be more exposed to the virus. Smaller shops don’t have as many people in them.”
She avoids shopping at Amazon, she said, because it’s one way to express her values.
“You can vote, and you can decide where to spend your money,” she said. “We think about workers — are they treated fairly? Are they protected? And in whose hands does our money end up?”
But Lonnie Delisle, a choir director in Vancouver, is a fan of Amazon.
“It’s so convenient. The price point is good, the selection is good,” he said. “The ease at which you can find things and make the purchases. Amazon is exceedingly user-friendly.”
Packages are sorted to be shipped inside of an Amazon fulfilment centre in Robbinsville, N.J., in this photo from November 2017. It’s difficult for small local businesses to compete with an online behemoth like Amazon. (Lucas Jackson/Reuters)
Delisle said he tries to shop with Canadian companies as much as possible, often checking the Bay or Canadian Tire first.
“But when you need something, and [Amazon has] what’s available, that’s where we go.”
Amazon has thrived during the pandemic, with sales jumping 40 per cent compared to the same time last year. Revenue from international markets such as Canada has also surged due to increased demand.
Big businesses offer incentives for shopping locally
However, even some very big businesses in Canada are trying to get the message out about the importance of small businesses.
The Royal Bank and American Express Canada are both spending big bucks on multimedia advertising campaigns to encourage consumers to shop locally, and offering financial incentives to customers who support small businesses.
RBC’s Canada United campaign offers customers extra points on their RBC Rewards card by shopping locally.
The bank also produced a video about the importance of small businesses and will donate five cents to a special fund every time someone views the video, or likes or shares it on social media. Entrepreneurs will then be able to apply to the fund for grants up to $5,000 to help them cover costs associated with keeping their business afloat through the pandemic.
American Express Canada’s Shop Small initiative gives cardholders $5 in credits when they spend at least $10 at up to 10 different small businesses, to earn a maximum of $50 in free money. The company has also created a Shop Small Map to direct shoppers to eligible stores.
“It’s good for our economy,” said Kerri-Ann Santaguida, vice-president and general manager of merchant services for American Express Canada. “It’s about the vibrancy of neighbourhoods across the country.”
Economist Armine Yalnizyan says household debt was a huge issue in Canada prior to the pandemic and she worries about what will happen when CERB payments stop. (Christopher Katsarov/The Atkinson Foundation)
Economist Armine Yalnizyan said the strategies of American Express Canada and RBC are similar to that of the federal government, with its rent relief program and small business loans, because they recognize that businesses are the engine that will pull Canada’s economy through the crisis.
“We can’t have resilient communities without resilient small businesses,” said Yalnizyan, who holds a fellowship on the future of jobs from the Atkinson Foundation, a Toronto-based charitable organization focused on social and economic justice.
The fact is, she said, big financial institutions such as RBC and American Express Canada depend on a healthy economy.
“They’re trying to keep as many businesses afloat as possible,” she said, “which will minimize the increase in permanent layoffs.”
It’s common knowledge that companies don’t hire the most qualified candidates. Employers hire the person they believe will deliver the best value in exchange for their payroll cost.
Since most job seekers know the above, I’m surprised that so few mention their Employee Value Proposition (EVP). Most job seekers list their education, skills, and experience without substantiating them and expect employers to determine whether they can benefit their company; hence, most resumes and LinkedIn profiles are just a list of opinions—borderline platitudes—that are meaningless and, therefore, have no value. Job seekers need to better explain, along with providing evidence, how they’ll contribute to an employer’s success.
Employers don’t hire opinions (read: talk is cheap); they hire results.
You’re not offering anything tangible when you claim:
I’m a great communicator.
I’m detail oriented.
I’m a team player.
Tangible:
“At Global Dynamics, I held quarterly town hall meetings with my 22 sales reps, highlighting our accomplishments, identifying opportunity areas, and recognizing outstanding performers.”
“For eight years, I managed Vandelay Industries IT department, overseeing a staff of 18 and a 12-million-dollar budget while coordinating cross-specialty projects. My strong attention to detail is why I never exceeded budget.”
“While working at Cyberdyne Systems, I was part of the customer service team, consisting of nine of us, striving to improve our response time. Through collaboration and sharing of best practices, we reduced our average response time from 48 to 12 business hours, resulting in a 35% improvement in customer feedback ratings.”
These examples of tangible answers provide employers with what they most want to hear from candidates but rarely do; what value the candidate will bring to the company. Typically, job seekers present their skills, experience, and unsubstantiated opinions and expect recruiters and employers to figure out their value, which is a lazy practice.
Getting hired isn’t based on “I have an MBA in Marketing and Sales,” “I’ve been a web designer for over 15 years,” “I’m young, beautiful and energetic,” blah, blah, blah. Likewise, being rejected isn’t based on “I’m overqualified,” “I’m too old,” “I don’t have enough education,” blah, blah, blah. Getting hired depends entirely on showing employers that you can add value and substance to their company; that you’ll serve a purpose.
When you articulate a solid value offer, the “blah, blah, blah” doesn’t matter. Job seekers focus too much on the “blah, blah, blah,” and when not hired, they say, “It’s not me, it’s…” The biggest mistake I see job seekers make is focusing on the “blah, blah, blah”—their experience and education—believing this is what interests employers. Hiring managers are more interested in whether you can solve the problems the position exists to solve than in your education and experience.
Not impressive: Education
Impressive: A track record of achieving tangible results.
You aren’t who you say you are; you are what you do.
If you want to be somebody who works hard, you have to actually work hard. If you want to be somebody who goes to the gym, you actually have to go to the gym. If you want to be a good friend, spouse, or colleague, you have to actually be a good friend, spouse, or colleague. Actions build reputations, not words.
The biggest challenge job seekers face today is differentiating themselves. To stand out and be memorable, don’t be like most job seekers, someone who’s all talk and no action. Any recruiter or hiring manager will tell you that the job market is heavily populated with job seekers who talk themselves up, talk a “good game” about everything they can “supposedly” do, drop names, etc., but have nothing to show for it.
More than ever, employers want to hear candidates offer a value proposition summarizing what value they bring. If you’re looking for a low-hanging fruit method to differentiate yourself, do what job seekers hardly ever do and make a hard-to-ignore value proposition.
Increase sales: “Based on my experience managing Regina and Saskatoon for PharmaKorp, I’m confident that I can increase BioGen’s sales by no less than 25% in Winnipeg and the surrounding area by the end of 2025.”
Reduce cost: “During my 12 years as Taco Town’s head of purchasing, I renegotiated contracts with key suppliers, resulting in 15% cost savings, saving the company over $450,000 annually. I know I can do the same for The Pasta House.”
Increase customer satisfaction:“During my time at Globex Corporation, I established a systematic feedback mechanism that enabled customers to share their experiences. This led to targeted improvements, increasing our Net Promoter Score by 15 points. I can increase Dunder Mifflin’s net promoter score.”
Save time: “As Zap Delivery’s dispatcher, I implemented advanced routing software that analyzed traffic patterns, reducing average delivery times by 20%. My implementation of this software at Froggy’s Delivery can reduce your delivery times by at least 20%, if not more.”
If you want to achieve job search success as soon as possible, structure your job search with a single thread that’s evident and consistent throughout your résumé, LinkedIn profile, cover letters and especially during interviews; clearly convey what difference you’ll make to the employer.
Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.
Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.
The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.
Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.
The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.
The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.
The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.
The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.
Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.
In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.
“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.
As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.
Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.
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