New rewards scheme aimed at boosting business for Magherafelt traders’

Independent traders in Magherafelt who are taking part in the scheme.
Independent traders in Magherafelt who are taking part in the scheme.

A new rewards scheme, designed to encourage consumers to shop local, is launching in Magherafelt this Saturday.

Already popular and going viral with around 1000 independent businesses joining in England and Ireland.

Magherafelt is set to become the first Phlok town in Mid Ulster and is being launched by more than 20 businesses in the town.

Phlok is the social incentive network that encourages shoppers in the local community to use local independent businesses more often.

With the threat of online shopping and out-of-town retail parks continuing to put pressure on independent retailers in town and city centres across the UK, the new initiative is a welcome boost to retailers in Magherafelt.

A unique social media concept, Phlok is the web and smartphone rewards platform that incentivises consumers with virtual currency, collectable and spendable with any business on the Phlok network.

When the customer spends Phlok points, Phlok pays the receiving business full value for the points spent. The business then gets full price for its item or service while the customer gets something for free.

Phlok Chief Executive Paul Graham said: “Phlok’s goal is to connect local people with local businesses, incentivising consumers to shop local. We are immensely proud of what the company has achieved so far and believe that Phlok will encourage a revival in local shopping.

Phlok’s principles are based on the Sharing Economy, businesses are encouraged to collaborate, and through our platform enable local consumers to collect value quickly to spend in their local community again. As more businesses (and towns) embrace our collaborative culture, the more powerful the network becomes and the more successful the participating businesses become.

“Our overall aim is to get local customers to transact more often with local businesses and support a growing, vibrant community.”