What Are Cash Mobs?
The concept is simple: with $20 in hand, members of a community come together to shop in a locally-owned establishment to support their favorite local business and support the area economy.
Cash mobs have swept across the country to breathe new life into struggling mom-and-pop businesses as they compete with big-box retailers. Utilizing flash-mob mentality, a cash mob organizes in advance. However, instead of performing a group-style dance or something similar, a group of cash mobbers flock together to support local business.
Through word of mouth, social media and press coverage, an organized cash mob can have a tremendously positive effect on hometown businesses. In most areas, small, locally owned businesses are the lifeblood of the local economy, but rising costs of doing business often means that these small retailers cannot compete with the lower prices of retail giants.
The benefits that local businesses gain from successful cash mobs are not just a one-day influx of cash. New customers are found, old customers are reacquainted and a new appreciation for businesses that fuel a local economy is found. Every dollar spent locally has a 15 percent more positive impact on a local economy than the same amount spent in big-box retailers and businesses that are part of a corporate giant. Cash mobbers even have a little fun while saving the lifeblood of their communities, as many cash mobs gather after a shopping frenzy at a local establishment for food, drinks and fun, where old and new friends alike meet.
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