How does Local Consumption add Value to the Community?

You may know that consuming goods from local businesses may bring about environmental and ethical benefits. But did you know that it can help to bring economic value to local communities as well? A Canadian study has shown that local businesses can have approximately 2.6 times more of an impact on the local economy as compared to big brands. It was estimated that a transfer of 10% of the market from big brands to these smaller local businesses could generate an additional 31,000 jobs for the local community.

Not convinced? Well, another study from the United States has also produced similar results. The study showed that every single dollar spent on a smaller, local business generates an additional 58 cents of economic benefits as compared to a mere 33 cents for larger businesses. It further showed that these small businesses are responsible for nearly two-thirds of new jobs, demonstrating that local businesses bring about much needed value for their communities.

So, how can we help to spur local consumption to realise these benefits? One answer to this is FlipNpik, a brand new collaborative social media platform that promotes local businesses. The entire platform offers local merchants effective marketing and promotional strategies in order to spread brand awareness among consumers. Users and merchants alike interact with each other in the FlipNpik mobile application. The key difference between marketing on other social media platforms and FlipNpik is that FlipNpik incentivizes users to help promote their favourite businesses. In this way, both consumers and merchants can share value with each other on the platform.

FlipNpik incentivizes its users by using Flip Social and FlipNpik cryptocurrency tokens. Flip Social is basically a reward point system that is given to users when they perform positive actions on FlipNpik. Positive actions include: Being active on the platform (liking, saving and sharing posts), recruiting friends to join FlipNpik, contributing to the development of the FlipNpik ecosystem (creating the profile of local businesses and providing content on businesses’ pages), and lastly, stimulating the FlipNpik economy by purchasing products or services within the FlipNpik ecosystem. Users can then use the earned Flip Social points to play interesting games in the application. These games can potentially enable users to discover new products or special offers. Next, the points can be used to access promotions, discounts and exclusive offers for some local businesses. Lastly, the Flip Social can be converted to FlipNpik tokens for a limited time frame via cryptocurrency exchanges.

FlipNpik cryptocurrency tokens form the foundation of the economic model in the FlipNpik ecosystem. They are essentially equivalent to money within the platform. Similar to Flip Social, FlipNpik tokens can also be used to play games and claim offers and promotions. However, it has the added utility of purchasing goods and services, often on preferential terms.

Merchants on FlipNpik can use FlipNpik tokens for a wide variety of services offered by the platform. For example, Merchants can pay their most dedicated consumers to become ambassador partners. Consumers that have recruited 3 or more active users for a particular business can have the option to pay a deposit of 500 FlipNpik tokens. As an ambassador partner, users are entitled to receive 20% of the FlipNpik tokens in the business’s budget on the platform. In return, these partners can take over all or part of the management of social media for their partner business. The ambassador uses the FlipNpik social media platform to actively boost the online visibility of their partner businesses.

Local businesses lie at the heart of FlipNpik and finally get the marketing and brand awareness that they rightfully deserve. Giving credence to the idea that local consumption being beneficial for the community, users of the FlipNpik platform get rewarded for interacting and consuming from their favourite local businesses. With FlipNpik, focussing on local merchants and businesses brings a myriad of great benefits to the local community. Try FlipNpik and help out your local community today!

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