Explanation:

"Mom-and-pop" is a colloquial term used to describe a small, family-owned, or independent business. Mom-and-pop stores are often operations that struggle to compete with more substantial establishments, such as big-box retailers, who generally boast more buying power than smaller players. In the last few years, "shop local" and "shop small" have been used as slogans in marketing campaigns. The term "mom-and-pop" also refers to inexperienced investors who casually play the market.
Mom-and-pop stores were historically used to describe local family owned and operated general stores or drugstores. Today, mom-and-pop establishments are synonymous with various different types of businesses, including restaurants, bookstores, automotive repair shops, and insurance agencies.