What is the Penrith Pound?
PENRITH POUND, is a gift voucher scheme (managed by Penrith BID) to be spent at participating retailers only, within
Penrith. The Penrith Business Improvement District is working together with Totally Locally to keep the commerce within the town and enhancing its appeal. This is a fantastic opportunity for
your business to be one of the first to sign up to accept the vouchers. Vouchers will be purchased by the general public via the Discover Penrith site and they will be sent directly out via
first class post. The voucher is used to purchase goods up to, or above the face value of the voucher. When the retailer is ready the vouchers are to be sent back to Penrith BID with the redemption
forms and payment will be sent to the retailer within 14 days minus the commision of 10%.
Research has indicated that gift vouchers are always a popular and easy gift to give and almost £5 billion was spent on them in the UK last year!
Alan Reading, from Totally Locally stated... 'Speaking from my own experience last year I was disappointed to learn that local schools spend thousands on gift vouchers and most local businesses had no chance of redeeming any of that business. I am pleased to say that they have expressed interest in the Penrith Pound this year and are thrilled with the scheme. This is also good opportunity to gain some extra business, via gift vouchers, that would otherwise leave our town.'
The Penrith Pound will be managed and promoted through Discover Penrith using the new Town WiFi for instant purchase and it's ever increasing social media feeds.
Those who come on board as retailers will also be given an enhanced listing on the Discover Penrith Page displaying your business to the maximum! You will also receive automatic enrolment to the Penrith Loyalty Scheme where you can display your offers and promotions to a vast local and UK wide audience.
Objectives of the Penrith Pound Project Launching July 18th 2015
What will it cost the Retailer?
To kick start the scheme we are offering a free three month trial, with no redemption fee for your business. After that time, there will be a 10% redemption fee when you cash in your redeemed vouchers.
Vouchers are purchased online through Discover Penrith at www.discoverpenrith.co.uk/penrithpound and as such Penrith BID will adsorb the cost of the card transaction fee which can be costly to the retailer. National commissionable and voucher rates range from 10 – 22% dependant on supplier and distribution.
If you are interested please fill in the below form and we will be in contact with your point of sale goods so you can actively promote the schemes. Be a part of keeping the pound in Penrith!