(This piece was originally published here on LinkedIN on 5th July 2020 ruminating on a tourism and retail bailout that didn’t come to pass. It ended up manifesting itself, to a great extent as the “£10 Government Meal Deal”. Half price Sunak Suppers Monday to Wednesday in august 2020. Eat out to help out. Fnarr. Ahem.)
UK Chancellor Rishi Sunak is considering a scheme where every Brit will get some sort of stimulus cash. Maybe £500 for adults to spend in sectors hardest hit. https://lnkd.in/dmn7ziF
“Under the plans the vouchers could only be spent in certain sectors, such as hospitality and “face to face” retail, as opposed to online.” We could be talking about £30bn.
The crucial aspect of this plan should be agnostic about how the money is spent rather than where. An estimated 85,000 businesses pivoted online in the lockdown. https://lnkd.in/d69pVGP
It reflects a concern I’ve had for some time that often online isn’t seen as an SME channel. Considering the likes #eBay#notonthehighstreet and #Etsy(even #amazon) they are home to thousands of SMEs. It would be an ironic outcome if the money could be spent at #Argos etc but not online SMEs.
Platforms and marketplaces will need to be involved. If you want to stimulate tourism and culture, then you will want to include #eventbrite and #airbnb. (One thing that must be negotiated is an arrangement on fees.)