LocoSoco enables independent business and the local communities they serve to thrive through sharing in the value of the commercial transactions they make.
Right now, a lot of money spent in local economies doesn’t get recycled. Sustainable growth and long-term value is lost and the result is a short-term playing field that favours those with big pockets.
So, how does that work? In 2 ways.
Firstly, by ensuring that every time a product or service is bought through LocoSoco a proportion of that revenue is returned to the buyer as shares or cash. As our business grows the value of those shares increases, as does the available cash funds which can be invested in other local enterprises or community projects.
Secondly, being on our platform enables local retailers, traders, and community groups to take their shop window to a much wider market. As a partner on LocoSoco independent business will be able to offer a wider range of products and increase their visibility as a local distributor to new customers. We believe that shopping online is a growth opportunity for local business and we want to facilitate that.
Our product strategy is focused on independent manufacturers with sustainable and environmentally friendly credentials. We want to make the purchase of these types of products as accessible, cost effective and rewarding as possible.
This is the start of a new way of doing business, one that continues to create wealth and profit but that better benefits the people and communities who help to generate it.
Throughout 2019 we will continue to source new product manufacturers with sustainability at their core to partner with. In addition we are making a commitment to electric vehicles and significantly less business travel by the end of the year.