Data shows Buy-One-Get-One program delivers 2X return in 1 month, 4X in 3 months, up to 8X over time in revenue going exclusively to local businesses, with lasting increases in sales for main streets and downtowns
MENLO PARK, Calif. /California Newswire/ — As communities strive to help their local businesses weather the pandemic storm, Yiftee has grown to more than 270 Community eGift Cards across the United States and executed 74 “Buy-One-Get-One” programs. These programs enlist entire communities in purchasing eGift Cards that can only be spent at local businesses, where the card buyers also receive free bonus gifts for their own use.
Yiftee and Whatcom County, WA teamed up to measure the revenue impact of their program for small businesses in Whatcom County. Between money spent on community card purchases, bonus cards funded by the CARES Act, and overspend on the gift cards and bonus cards, the analysis found that the bonus program investment was returned by 2X in its first month, 4X after 3 months and could return up to 8X over the next year when the majority of the purchased cards have been redeemed.