Now it’s the neighbourhood’s turn to pay in RECs
A new campaign is being launched to promote the REC citizen currency. Entitled ‘Li toca al barri’ (it’s the neighbourhood’s turn), the goal is to revitalise and strengthen local commerce and municipal markets in the ten neighbourhoods in the Besòs area. Discounts of 15% will apply on purchases made with RECS, with participating establishments expected to number between 150 and 200.
The campaign will get 100,000 euros in all and is expected to have a minimum impact of between 3,800 and 5,100 euros in turnover for each participating establishment. The hope is also that somewhere around 27% of these RECs will recirculate in the local area (according to evaluation data from the first stage of the currency). This equates to more than 200,000 RECS recirculating between neighbourhood shops and businesses.
The initiative corresponds to the Neighbourhood Plan and aims to help local commerce go digital and foster a greater sense of belonging in the ten neighbourhoods (in the three districts of Nou Barris, Sant Andreu and Sant Martí): Ciutat Meridiana, Vallbona, Torre Baró, Les Roquetes, Trinitat Nova, Trinitat Vella, Baró de Viver, Bon Pastor, La Verneda i la Pau, and El Besòs i el Maresme.
How does it work?
Anybody can download the free mobile app for the REC, available in the Apple Store and on Google Play, and register as an individual user. When they make an initial exchange of 10 euros for 10 RECs, they will get 15% off each purchase they make, which they can use for subsequent purchases.
The measure is designed to help local people in the neighbourhoods, who have seen their disposable income eroded in the current economic and health crisis caused by Covid-19. The initiative is also intended to offer shops and municipal market stalls support and advice to help them strengthen their ties with local area, as well as tools to maximise their promotion and visibility.
The campaign will run until 31 July 2021 or until the discounts are used up. It provides continuity for the citizen currency campaign started in the same geographical area and implemented between September 2018 and November 2019, as part of the European BMINCOME project.
What is the REC?
The REC (citizen economic resource) is a project which was conceived to add vitality to local commerce and services. The currency is an innovative measure for fostering customer loyalty and avoiding commerce deserting neighbourhoods, particularly in the Besòs area. The scheme forms part of the Barcelona Neighbourhood Plan.
The project is a joint initiative by Barcelona Activa and the Associació NOVACT, with the participation of the Neighbourhood Plan and the Directorate for Cooperative, Social and Solidarity Economy Services and Food Policy.
The first stage to implement the REC saw some 160 shops, local services and municipal market stalls take part. The average turnover for each business was 5,500 euros and all of them expressed a high level of satisfaction with the project.
