Introduction
About a year ago, the Sant Feliu City Council presented an economic innovation with the aim of boosting local commerce: La Rosa, the city’s first currency. This initiative received an honorable mention in the “VI Contest of Technological Ideas for Retail Trade” of the Spanish Federation of Municipalities and Provinces. The main objective of this local currency is to promote trade in the city, establish closer relations with citizens and boost economic activity, all while building customer loyalty.
Data and results
Since its creation on March 27, 2023, a total of 1434 people have used La Rosa to carry out commercial transactions in Sant Feliu. During this year, a total of 3990 transactions were made with an economic value of purchases of €136,090.43. These transactions have been carried out exclusively in local shops, as 13% of the city’s commercial establishments have joined this initiative.
Membership of local businesses
Currently, there are a total of 101 commercial establishments affiliated to La Rosa, representing 13% of the establishments in the city. These establishments are located in different neighborhoods and belong to the fashion and accessories, leisure and culture, professional services, catering, hairdressing and beauty centers, and food sectors.
New businesses and users
During the first months of 2024, 9 new commercial establishments and 217 people have been registered in this initiative. Of these new users, 204 have used La Rosa to make a purchase.
Bonus campaigns
To continue promoting La Rosa, the City Council has carried out two financial bonus campaigns. During these periods, an additional bonus of 30% was offered in Roses, with a maximum of 100 euros per transaction. These campaigns have been a success and it is expected that in the coming months a third campaign will be carried out to coincide with the Spring Festival.
Movements without bonus campaign
During non-bonus campaign periods, it has been observed that only 9% of moves with La Rosa are made. This shows that bonus campaigns are a key factor in incentivizing the use of the local currency.
conclusion
La Rosa has proven to be an effective economic innovation to boost local trade in Sant Feliu. With a total of 3990 transactions and an economic value of purchases of €136,090.43 in just one year, this local currency has managed to build customer loyalty and establish closer relations with the public. Bonus campaigns have been key to encouraging the use of La Rosa and it is expected that in the coming months a new campaign will be carried out to continue promoting this initiative.
