December 6, 2008

BerkShares Holiday Shop-A-Thon

ABC40TV Website


By Eric Fisher

http://www.abc40tv.com/Global/story.asp?S=9464662

GREAT BARRINGTON, Mass. (abc40) -- While the country as a whole struggles, many are thinking about their local priorities. There are few initiatives more local than Berkshares.

"I'm a believer in sustainable economies and keeping things local, and this is the epitomy of keeping things local," says Steffen Root of Berkshire Bike & Board.

In his store, and at dozens of others, Berkshares are accepted. They're a relatively new currency used in the Berkshires, now about two years old. Over 2 million Berkshares are now in circulation, with about $200,000 actively being used.

To help promote the currency, a special promotion is being held this holiday season. The 2nd annual Berkshare Shop-A-Thon is hoping to attract customers by entering them in a raffle whenever they use Berkshares. At the end of the shopping season, prizes will be awarded to the winners of the raffle, good for cash or goods at some of the local retailers.

"We hope customers will see that they have more incentive to use t hem because now there's the chance that they could win something," says Root.

The other incentive is that everything you buy is already essentially at a 10% discount. You get 100 Berkshares for 90 U.S. dollars. The only way you lose the money, is if you deposit them back to the bank. But Root says that's not the point.

"I don't want to bring it back to the bank because that defeats the purpose. I want to keep it in circulation because that keeps it local and builds our economy," says Root.

In the end, local businesses hope they can deter shoppers from shopping online, using their credit cards, and frequenting the big box stores. Instead, they hope Berkshares will keep the wealth local and their communities thriving.