Forget flash mobs, they’re so old hat – it’s all about cash mobs these days. And cash mobs are a very cool thing.
As well as rhyming with their namesake, cash mobs follow a similar principle. Twitter and Facebook users organise a real world get-together using social media, with the aim of giving small or independent businesses a boost. This is a good thing for said businesses, particularly now when a lot of consumers are either strapped for cash, glued to Olympics coverage, or both.
The FT reported on a specific cash mob held at Pages of Hackney, an independent book store in London (for those without an FT sub, you can read on Retail Gazette). The owner, Eleanor Lowenthal, has faced tough competition from the rise of ebooks, the Olympics and, everyone’s favourite, the recession. The cash mob stunt has helped her immensely, with social media users encouraged to spend around £10 at the event. She reportedly shifted over 100 books in a day, compared to five and six on the previous two days.
Ken Banks is the man behind the event. His site, Cashmobbers.net, allows anyone to log on and create their own cash mob. There’s also a smartphone app in the works.
Small time stunts they may be, but cash mobs are a great idea and could be a valuable shot in the arm for any small or locally run business.
Photo credit: FT