Love Sligo gift cards prove to be a major success
SLIGO BID (Business Improvement District) has reported a strong performance by the Love Sligo Gift Cards.
The cards became available ahead of the busy Christmas period with well in excess of 100 local business accepting the cards and many customers availing of them.
In a statement issued yesterday, Wednesday, a spokesperson for Sligo BID said: “Sligo BID is delighted to report that as of today, January 9, redemption of the Love Sligo gift card across accepting Sligo businesses is closing in on an amazing €165,000!
“A figure that we are just as enthusiastic to report is that there is a remaining €300,000 worth of the Love Sligo Gift Card in the possession of thousands of local consumers who in the coming weeks and months can look forward to spending their Gift Card whilst adding a massive boost to the local economy during a traditionally quieter spending period post Christmas splurge and early January sales.
“Another figure which is of huge significance is €16,500. Many National multi-use gift cards carry an average commission rate of 10% which is charged to business owners at point of acceptance and as a result removes substantial revenue from the local economy. Apply that commission rate to the current spend stated above and you get a very considerable €16,500.
“However with the introduction of the Love Sligo Gift Card and its ZERO% commission rate there will not be a potential leakage of €16,500 out of the local economy. That money will now remain in circulation throughout Sligo businesses.
“Sligo BID on behalf of its members subsidises an annual program fee to Gift Card specialists Miconex which in turn offsets the commission fees that would normally be incurred when accepting a multi-use gift card.
“We are proud to have introduced this initiative to Sligo on behalf of our hard working local businesses and their valuable employees.”