Black Cards to NHS Staff to Offset Price Rise | Finance

Black Cards to NHS Staff to Offset Price Rise

 By: Kristina Aldred
In a highly competitive market environment, merchants adopt various strategies to sell products and services. In fact success of the business depends on the strategies employed by them. There are several methods that are used by the market leaders to entice consumers. Such tactics are very important during the periods of recessions. Money value depletes and people's purchasing power reduces considerably during economic recessions. Markets become stagnant as a result of such economic turbulences. Offering discounts on the prices to the consumers is one effective method to stimulate the markets. As reduction in prices will result in decreasing turnovers, it is imperative that the total sales should increase correspondingly, to offset the possible decrease in profits. More number of consumers should turn up to buy the commodities. The system of debit cards with offers of discounts is a very effective tool in this context.

Several establishments in UK are promoting such debit cards. They identify groups of consumers whose purchasing power is comparatively higher than the average in the given circumstances. The workforce in the country will be approximately thirty percent of the population and among them a good percentage are salaried employees. One in every five of the total population belongs to such category. They earn fixed but regular income. It is to these consumers the special debit cards are offered. Popularly known as Black Cards, the beneficiaries are eligible for cash back at a rate of 3.5 percent of the amounts involved in the deals. The scheme is successful if the impacts are taken into account. Black Cards are in vogue for more than a decade. Both the dealers and the shoppers are equally benefited from the system.

Millions of employees of the National Health Service are eligible to avail the special debit cards which are characteristically different from the conventional debit cards. Inflation and price rise cause much hardship to those who receive fixed salaries. Cash Back incentives are boons to them. About 35 leading retailers apart from other sale outlets in the country honour the Black Cards. Many of these establishments offer more than 3.5 percent on certain items of products and services. Certain specific products are sold at 5 percent discounts. Apart from such incentives introductory offers by companies carry up to 25 percent cash back. This is to make new products and services familiar to the public. Whenever new products or new models of existing products are introduced in the markets, shoppers are offered attractive discounts or cash back. Obsolete models of several products are often sold at discounted prices in order to clear the existing stocks. Shoppers with shoe-string budgets make use of such opportunities. Their policy is to make hay while the sun shines.

As already mentioned Black Cards are issued exclusively to those who are considered as having reasonable purchasing power. Card holders are generally groups of people who are identifiable. A person who availed the card can also receive additional cards for other members of the family. If the entire requirements of the family are acquired using Black Cards, they can earn substantial cash back every year.
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