CASH MOB:
Consumers’ New“ Mob” Mentality
Sure you’ ve heard of flash sales, but there’ s a new retail concept that can lead to fast cash without discounting: cash mob.
In an article featured on Stores. org, cash mob— a“ phenomenon” where consumers who want to support the local economy organize themselves to shop in an independent and local retailer— has spread like wildfire since blogger, Christopher Smith, organized the first cash mob in Buffalo, New York in August last year.
Using social media, he solicited nominations for stores to be“ mobbed,” and then opened the results to voting. Unlike the discounting ad strategy, cash mob tends to build loyalty among customers better as it highlights a sense of community by selecting small, local, and at times struggling, retailers. The beauty of the concept is that it leaves the power entirely in the hands of self-organizing consumers, from who they nominate, who they vote for to how much they eventually decide to spend in the store.
According to the report, since the first“ mob,” some 200 cash mobs have been organized in more than 35 U. S. cities. Similarly, cash mobs have also taken place in Canada and Australia.
While the concept is primarily consumer-driven, your spa could take part of this movement by strengthening your community presence through supporting local causes and initiatives. Often, consumers champion retailers with strong corporate social responsibility and, in the case of cash mobs, highly nominate and vote for these companies or brands.
By positioning your spa as a business that gives back, consumers will eventually return the favor, whether in the form of a cash mob or by simply remaining loyal to your brand.
August 2012 ■ PULSE 15