Monday, September 24, 2012

"Cash Mobs" Takes Flash Mob Idea to Supporting Local Businesses

Hunter Communications recommended reading from:
The Daily Telegraph

Link to article:
Cash Mobs: How the Internet Can Revive Local Shops

In the spirit of flash mobs, a new breed of entrepreneurs is leading groups to descend on suffering or stagnating local businesses. Each individual participant promises to spend a small amount in hopes that the aggregate will bring a good day's business and a bit of recognition to the local shop.  A recent "cash mob" in London targeted an East End bookstore that had lost sales during the Olympics tourist crush (to the glittering Olympic Village stores).

Excerpt: "Last Friday as the Olympics were coming to their glorious close, trains and buses were flying past local East End business for the gated retail experience of the Olympic Park. Off the Olympics Lane track, however, more than 50 people squeezed into an independent book shop in Hackney for the first Cash Mob in this country...

'Earlier this year I launched a new project called Means of Exchange, an initiative that focuses on methods of economic self-sufficiency. Cash Mobbers is the first site to be launched under the Means of Exchange banner and we chose the Pages of Hackney bookshop because we were looking for a locally owned business in an area which was being negatively affected by the Olympics, and to support those which were being bypassed by the crowds.

'Over the course of one lunchtime we estimated more than 50 people came into the shop with many buying more than one book. There was a great buzz about the place, with everyone feeling part of something exciting and worthwhile. Having sold less than ten books over the two days before, it was great to hear from the bookshop owner that sales topped 100 that day, with £500 taken during the Cash Mob', he said"

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