Chattanooga Downtown Gift Card Bright Spot in Local Economy Increase in Buy it*Downtown Card Spending Ten Times National Average
Buy It Downtown is a positive economic story in Chattanooga regarding the hot topic of buying locally. Chattanooga has embraced the model and it is likely to spread to other cities in the near future.
Chattanooga, TN, January 09, 2010 --(PR.com)-- Buy it*Downtown, Chattanooga’s downtown shopping card had 2009 holiday sales that were ten times national consumer spending trends. MasterCard and ShopperTrak reported national consumer spending up 1.00%-1.6% in 2009 over 2008 for November-December 24th. For the same time period, Buy it*Downtown of Chattanooga reports sales of its downtown card for spending at local merchants increased 17%, a 963%-1,600% increase over national consumer spending trends.
Buy it*Downtown has kept more than $750,000 in the Chattanooga economy to date. Additionally, Buy it*Local, LLC, parent company and developer of the Buy it*Downtown program reported spending of the downtown stored value cards increased 68% over 2008 for December.
“The double and triple digit increases we have seen in Buy it*Downtown Chattanooga during the holidays and throughout 2009 is evidence that Chattanoogans want to support our local businesses,” said Amy Walker Cherry, Founder and CEO of Buy it*Downtown and Buy it Local. “Because of this program, three-quarters of a million dollars will be spent with local merchants rather than sent off to banking or corporate headquarters,” she added.
The Buy it*Downtown program in Chattanooga, Tennessee it is accepted at 70 locations in downtown Chattanooga. Giving and spending Buy it*Downtown cards guarantee the money will be spent locally.
“Prepaid Visa, Mastercard and American Express Cards can be spent on the other side of the world if the cardholder wants to…unfortunately that won’t do our local economy or local businesses much good,” said Amy Walker Cherry. “Buy it*Downtown cards were a big hit this year as employee incentive programs, customer rewards and teacher appreciation because they support our local businesses and still give the card holder many locations to enjoy their gift.”
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About Buy it*Local
Through it’s Buy it*Cards® products and services, Buy it*®Local, LLC creates custom, private electronic networks that connects local merchant locations for processing stored value cards specific to the community. Every card that is purchased and spent at participating locations is tracked. The data enables local card program operators to estimate economic impact that cards are making. The program can be scaled to fit any community size and keep its dollars local. For more information visit www.buyitdowntown.com
Buy it*Downtown has kept more than $750,000 in the Chattanooga economy to date. Additionally, Buy it*Local, LLC, parent company and developer of the Buy it*Downtown program reported spending of the downtown stored value cards increased 68% over 2008 for December.
“The double and triple digit increases we have seen in Buy it*Downtown Chattanooga during the holidays and throughout 2009 is evidence that Chattanoogans want to support our local businesses,” said Amy Walker Cherry, Founder and CEO of Buy it*Downtown and Buy it Local. “Because of this program, three-quarters of a million dollars will be spent with local merchants rather than sent off to banking or corporate headquarters,” she added.
The Buy it*Downtown program in Chattanooga, Tennessee it is accepted at 70 locations in downtown Chattanooga. Giving and spending Buy it*Downtown cards guarantee the money will be spent locally.
“Prepaid Visa, Mastercard and American Express Cards can be spent on the other side of the world if the cardholder wants to…unfortunately that won’t do our local economy or local businesses much good,” said Amy Walker Cherry. “Buy it*Downtown cards were a big hit this year as employee incentive programs, customer rewards and teacher appreciation because they support our local businesses and still give the card holder many locations to enjoy their gift.”
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About Buy it*Local
Through it’s Buy it*Cards® products and services, Buy it*®Local, LLC creates custom, private electronic networks that connects local merchant locations for processing stored value cards specific to the community. Every card that is purchased and spent at participating locations is tracked. The data enables local card program operators to estimate economic impact that cards are making. The program can be scaled to fit any community size and keep its dollars local. For more information visit www.buyitdowntown.com
Contact
Buy It Downtown
Dave Santucci
423 291 4161
www.buyitdowntown.com
Dave Santucci
423 291 4161
www.buyitdowntown.com
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