As part of its campaign to deliver a brighter future for Ilkley by helping businesses to flourish, Ilkley BID is planning to launch a bespoke llkley Gift Card.
The Gift Card is a prepaid debit card which is designed to lock in spend to the town by encouraging consumers to shop locally, making the local economy more resilient and sustainable.
Consumers will be able to buy the card pre-loaded with any value from £5 to £500 which can be redeemed in a wide variety of participating shops, restaurants, bars, cafes and businesses in Ilkley.
Feedback about the scheme has been very positive and the Ilkley BID is asking for all businesses to register their participation by contacting firstname.lastname@example.org.
The scheme is an initiative by the Ilkley Business Improvement District with technology provided by FinTech Miconex through its Town and City Gift Cards programme. Funds are held securely by Mastercard.
The Gift Card scheme is already a proven success as reported by BIDs and local authorities in other towns and city centres, with figures showing that people who redeem gift cards on average spend 65% more than the value received.
Helen Rhodes, Manager of Ilkley BID said: “The Ilkley Gift Card encourages consumers to shop locally so that spend is locked into the local economy, boosting trade and securing jobs.
“All businesses in Ilkley that have a card reader are able to be a part of the scheme for free, and there are no additional costs or training needs for merchants. By participating in the programme, businesses can gain a new revenue stream as well as potential new customers so there are really no downsides to being involved”.
Colin Munro, the managing director of Miconex, said being a part of the Ilkley Gift Card is a positive move for businesses: “I’m really looking forward to working with Helen and the Ilkley BID team to deliver the Ilkley Gift Card. The more businesses that are part of the scheme, the more money is locked into Ilkley to support the local economy and help the town flourish. From my experience of working with other Gift Cards, I would actively encourage all businesses to register their involvement with Ilkley BID.”