Bucheon City: "Consumption Coupons Boost Local Business Vitality"... Local Currency Sales Up 152%

The Livelihood Recovery Consumption Coupon has been found to have made a tangible contribution to restoring the purchasing power of Bucheon residents and stimulating consumer sentiment.

According to Bucheon City on August 12, a comparison of sales figures for the two weeks before (July 7?20) and after (July 21?August 3) the distribution of the consumption coupons showed that sales using the local currency "Bucheon Pay" increased by 152.6%, while credit card sales rose by 9.8%. This analysis was based on sales data for credit cards and Bucheon Pay, obtained from card companies and the local currency issuer for the relevant period.

By industry, both payment methods saw significant increases in supermarkets·groceries and general restaurants, with a high proportion of spending observed in dining out and daily necessity sectors.

Bucheon Pay recorded the highest increase in clothing·accessories at 537.5%, followed by supermarkets·groceries at 318.9%, convenience stores at 192.8%, general restaurants at 139.9%, and hospitals·pharmacies at 120.5%.

For credit and debit cards, clothing·accessories saw the highest increase at 37.1%, followed by supermarkets·groceries at 30.3%, and private academies at 25.2%, indicating an overall expansion in consumption.

As of 9 a.m. on August 8, 731,933 out of 765,974 eligible recipients in Bucheon had completed the issuance of the consumption coupons. In addition, of the total distribution amount of 118.4 billion won, 56.6 billion won (47.8%) had not yet been used, leading the city to anticipate a significant additional consumption ripple effect in the future.

Bucheon Mayor Cho Yongik stated, "The Livelihood Recovery Consumption Coupon is clearly having a positive effect on increasing sales for local small businesses," and added, "We will do our utmost to ensure that this does not end as a temporary sales boost, but rather serves as a turning point to restore consumer sentiment and establish a healthy, community-centered consumption structure."