Save 10% At A Local Shop by Finance News Bulletin

Published: 13/12/07

I'm leaving to have a look at an unusual reward card, that helps you save money and support independent retailers at the same timeWouldn't it be pleasant if we could support our restricted, independent shops and save the pennies If being honorable didn't mean paying higher prices, I suspect many more of us would happily shun the multinational manacles and opt out from large brand dominationThe trouble is, supermarket giants can attain enormous economies of scale - and the prices they accuse for goods tend to be cheaper as a result

This means that, although we may have the best of intentions, when cash is taut, many of us sneak guiltily off to Tesco and chums to stock upHowever, the picture isn't entirely gloomy This month marks the first birthday of the launch of The Wedge certificate, a rather different reward card scheme which is designed to financially benefit populace who shop locally at independent retailersIt was the idea of Big Issue creator John Bird and his daughter, Diana, and its successful roll-out in London over the past year means tactics are now underway to introduce the cards all over the UK

This means you can now put aside money and support businesses in your local community Puts new meaning in the utterance satisfying', doesn't itA Wedge Card can be bought (online or over the telephone for £10 Half of this sum goes to a local aid organization, while the other £5 covers administration costs

The card is suitable for one yearCardholders are then able to take advantage of discounts, investments and special offers from over 500 self-governing businesses This includes all sorts of shops and outlets, from grocers and gift shops to clothing retailers and restaurantsOn a single street in Hackney, for instance, 12 shops and businesses are currently part of the lodge scheme

And the discounts and deals you get are often quite substantial Perusing a catalog of participants in East London, I found lots of businesses contribution 10-20% off goods This is around 10 times better than Nectar, which more often than not only offers one to two points for every pound exhausted (Plus, each point is characteristically worth just half a penny in store)

And it's not now discounts Some local traders are offering gratis gifts of food, drink, bags and jewellery to Wedge certificate holdersBut before you rush off to get one, bear in mind that the Wedge Card is at present focused on local traders in and around London However, it is being directed in Bristol and Norfolk, and if the direct is a success, Wedge plans to get bigger into many other areas of the UK

Hopefully, the scheme will benefit both the self-governing retailer and the independently-minded shopper Who knows With more money being spent on the local high road and retained by local businesses, a intelligence of community may develop, and your neighbourhood may become a more pleasant and prosperous put to live Fingers crossed, eh

The trouble with the lodge Card scheme is that, unlike a conventional reward card system like the Nectar certificate, it is very region-specific and most parts of the UK are not yet coveredAfter all, if you avoid national chains, it is much harder to present national rewards This means that if you decide to go on holiday, work away from house or move house, your card may prove useless in your new site So before you take one out, look up how many traders have signed up to the scheme in your postcode

If you can't find many, why not contact Wedge and allow them know whereabouts you live They promise they'll then try their most excellent to get shops in your local area involved with the schemelastly, make certain you're actually saving money The Wedge Card costs £10, which you'll need to get back from the discounts before you can start saving cash on the scheme

And although the discounts obtainable may be substantially better than Nectar, for example, the reduced price could still be senior than that of an equivalent manufactured goods at Sainsbury's or one of its big chain associates But then again, if you shop there, you won't be behind your high street

So there you have it: a local reward certificate for local people It won't plea to everyone, and many Fools will find it isn't yet available in their area However, it does encourage faithfulness to your local group of people rather than a national brand - so you can spend, spend, spend without emotion guilty about adding to the coffers of all those nameless, multinational chainsMore: Money Talk Podcast: Getting The Most From Loyalty certificate Schemes | How To create The Most of Reward PointsThe opinions expressed here are those of the individual writers and are not representative of The Motley Fool

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