The $50 Retail Challenge

by Cinda Baxter on February 23, 2009

in Economy, Local

50billIndependent retailers, you have a champion in Canada. Ironically, it’s someone from the ecommerce world who understands the importance of supporting local brick and mortars.

In a nutshell, the Retail Challenge (as she calls it) asks consumers to think long and hard about what will happen to their local economies if they don’t keep their hard earned dollars invested there. Here’s the grand plan:

For those of you who are employed, I challenge you to go out and spend $100 a month in retail stores, in restaurants, at the movies, anywhere you choose. If half of the Canadian population spent $100 every month, that would generate $1,660,634,800 into the Canadian economy. If $100 is too much, spend $50 or whatever you can afford. Anything is better than nothing.

So what does that boil down to in U.S. terms? How ‘bout a cool $42,629,700,000…and that’s if only half the employed population spent only $50 per month.

This is exactly the kind of data I’d love to see out in the public domain (anyone have a contact at CBS Evening News?). It puts the word “recovery” in a whole new light-—one that sounds a lot more attainable than what we read in the papers.

Editor’s update:

See the newer post “Save the economy three stores at a time” for my latest brainstorm about strengthening brick and mortar retail.

* Employment statistics courtesy U.S. Department of Labor/Bureau of Labor Statistics, 2/6/2009

Related links:
Seth Godin mentions The 3/50 Project
Save the economy three stores at a time
Let’s get The 3/50 Project on the Today Show
The Project 3/50 bag stuffers are here
Oprah, you’ve got it wrong
CNBC host Erin Burnett reminds us the battle is about more than just money
Enough with the carnage
The 3/50 Project grows legs
Want to be a 3/50 Project rock star?

Christina February 23, 2009 at 1:57 pm

Wow, thanks Cinda for reading my blog and passing on the challenge. Between you and me, we’ll get this economy going! Let me know if you get anyone taking you up on the challenge and I will do the same.
Christina
notashopaholic.blogspot.com

Jess February 24, 2009 at 1:39 pm

What a great idea! I’m going to print this out and tuck it into customers bags with each purchase. Thanks for passing it along!

Dave August 10, 2009 at 8:02 pm

Great idea! One question. Is it $50 spent at each of three locally owned businesses or is it $50 spent among three locally owned busineses per month? I want to be sure I’m comunicating this accurately in our town. Thank you for this challenge. It is a good, specific way to make the point that supporting our businesses helps support the comunity at large.

Dave

Thanks for asking, Dave. The $50 is per month, total…not per business, unless the customer wants to (which no business owner would argue with). For other questions about The 3/50 Project, please see the FAQ on our site, the350project.net.

Dave Slayton August 27, 2009 at 9:27 am

Cinda, I want to promote the “3/50 Retail Challenge” here in Danville, Virginia. I once found a website that had statistics about how much of each dollar spent locally stays in the community, but cannot locate it now. I think it was something like 7o+ cents per dollar spent at a locally owned-operated business stays in the community. Do you know where I might find such statics? I ask because I’d like to start promoting “3/50″ by writing a letter to our local newspaper’s “Letters to the Editor” explaining your “Challenge”. Thanks. Dave

Editor’s note: Check out The 3/50 Project website, then scroll down to the 68 section on our homepage. Pretty sure that’s what you’re looking for.

Ab. Haji September 9, 2010 at 10:06 am

Great idea, I like to introduce it to our minneapolisgrapevine community.

Cinda Baxter September 9, 2010 at 12:18 pm

Please be sure to check out our website (the350project.net) for info and the Member Badge, found on our Resources page. Thanks for helping to spread the word!

Dawn Fitchett May 4, 2011 at 9:36 am

Excellent article!
This is what our company is ALL about…helping the small businesses and also the nonprofit organizations…our motto is “Building Community One Home at a Time”.
We share with everyone the fundamental value of shopping locally – offering them unique and helpful insight into the importance of supporting and building your area’s economy
We are a new presence on the web (1 week) – our hopes are that many will roll up their sleeves and make a difference in their community!
We have seen an amazing change in the local economic segment as well as nonprofit organizations are receiving donations and volunteers. People helping a person that is what it should all be about!
Thank you for the article, we need to spread the news & be the change America’s small business needs!

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