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Take Back Your Customers. …Understanding the Matrix Presented by Northeast Kingdom Online and ingenium. Buying local…. Stimulates the local economy Generates more local sales revenues
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Take Back Your Customers …Understanding the Matrix Presented by Northeast Kingdom Online and ingenium
Buying local… • Stimulates the local economy • Generates more local sales revenues • Reduces unemployment rates, property taxes, foreclosures, utility rates, and public service layoffs (teachers, police, firemen) • Increases jobs, tax revenues, community service, town infrastructure, quality of education, and quality of life.
1/2 of 1 cent spent in Littleton per day equals ONE LOST NEK job… • Vermont’s annual gross domestic product, $22,114,000,000, divided by an employee base of 348,993 employees equals an average of $63,365 produced by each employee in Vermont… • So if 35,000 people (NEK’s population) spend ½ of 1 cent per dayin New Hampshire, the NEK loses $63,875 in revenues over a year’s time… • Said another way, we LOSE ONE JOB when locals spend even a minimal amount across the river in Littleton.
Local purchases from customers and business to business result in… • An awesome cycle of community and economic growth… • When more people buy from your business, those sales create revenues for you to pay more employees, deposit more tax revenues, produce higher wages… • And with those increased jobs and wages, more people have more money to buy more of your products!
The Matrix gives the “Buy Local” movement a real value! • The number we get from inputting your business’ expenses into the Matrix calculation represents how much of every dollar spent at your store stays local. • For example, your Local Return could work out to be 63%, which would mean that you pump 63 cents out of every dollar spent at your store back into our local economy! McDonald’s’ Local Return, for example, is only 33%*. • The Matrix makes “Buy Local” more than just a feel-good, emotional idea because it shows how much buying local really impacts our community.
Why should you have the Matrix calculated for your business? • Our research shows that approximately 47%* of all products at WalMart, Home Depot, Staples, and Lowes (to name a few!) can be bought for similar prices in our local market. • The Matrix can also take the prices of those big box store items and compare them with your local items, taking into account some pretty intense calculations and algorithms…And guess what?! • Your local goods will always have a lower “real” cost because you give back more to the local economy than any of those big box stores.
Major benefits of the Matrix… • The Matrix raises awareness of your own business’ impact on the local economy. • It also raises consumers’ awareness of the impact they can have on their own community and lives by changing a fraction of their buying habits. • Like voting, every local purchase makes a difference. Even if only 10% of people change their buying habits, the benefits are hundreds of thousands of dollars in additional local revenues!
What your business gets… • A real number to show patrons how much your business gives back to the local economy. • This number would be proudly displayed as a placard in your storefront/on your front door, on your website, and in any marketing and advertising materials.
Our Lyndon Area Chamber of Commerce gets… • Plug-in software for the Matrix ™that is downloadable, online, or installable through a thumb-drive, and made available to all LACC business members • Plug-in software for all graphic representation of the Matrix ™, whose use, subject to LACC rules, will allow Chamber members, like yourselves, to print storefront placards, marketing materials, web banners, etc, for public display • Web presence and functionality consultingby ingenium and NEKO for LACC.
Consumer education… • Ingenium will provide newsletter content that will assist in raising local awareness of the Matrix and what your business’ Local Return number represents. • The newsletters will also raise awareness on: • Loss of revenues to big box stores • Loss of local jobs/employees because of big box stores • Volumes and types of local businesses lost to big box stores • Volume and types of businesses for which Lyndonville is, or can be, competitive on a regional level • Actual loss of tax base and related municipal services due to job and revenues lost because of big box stores.
