The notion, held dear by some consumers, that one should shop at local mom-and-pop establishments rather than large chain stores has taken on a new twist in the age of social media.
The “cash mob” is a variation of the flash mob. But instead of hundreds of people showing up in a public place at the same time to sing or dance, cash mobs designate a day to visit a local business (selected in an online vote beforehand) and spend some money there – perhaps $10 or $20. The idea is to give the shops a one-day boost in revenue to keep them going in tough economic times.
Craig Boutilier, a professor of computer science, says the idea is an altruistic version of a phenomenon called tuangou, which originated in China. There, people would arrive en masse at a store to haggle for a better price on a particular item. Boutilier is now working with PhD student Tyler Lu on an online version of bargain hunting that’s consumer-driven – unlike Groupon, in which vendors decide the deal.
Recent Posts
U of T’s 197th Birthday Quiz
Test your knowledge of all things U of T in honour of the university’s 197th anniversary on March 15!
Are Cold Plunges Good for You?
Research suggests they are, in three ways
Work Has Changed. So Have the Qualities of Good Leadership
Rapid shifts in everything from technology to employee expectations are pressuring leaders to constantly adapt