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Mon December 2, 2013
Chamber Promotion Successful in keeping $$ In Area
Local merchants are working to have customer dollars stay locally instead of going out of town via the internet or buying in another community.
That's the thrust of a Rhinelander Chamber of Commerce promotion called "Chamber Bucks". Director Lara Reed says customers come to the Chamber to buy what amounts to a gift certificate there and then can redeem the Chamber Bucks at any participating chamber businesses...
"....year to date, in 2013....we have sold over $48,000 in Chamber Bucks. So that means a $48,000 impact has already been made in our local community at local businesses,...."
In addition to the chamber, Downtown Rhinelander Incorporated also is promoting "I Buy Local" to bring awareness to local businesses and services.
A website called thinkshopbuylocal.com reports for each $1 spent at a local business, 45 cents is reinvested locally.
Households with 2.5 residents spend more than $40,000 per year. The majority is spent on housing, transportation and food. If that household bought only from stores and businesses with locations in the area, its spending would return at least $20,350 to the local economy in wages, manufacturer’s products, taxes and giving to non-profit groups.