Consumption vouchers have succeeded in Canary Islands to varying degrees. While most of the 80,000 coupons with a 50% discount that the Canary Islands government activated on Monday, April 15 to boost commerce in the islands sold out in just two hours, there are still vouchers available in Gran Canaria a day later.
Why has the initiative failed in Gran Canaria? What is the reason for Gran Canaria not joining the discount vouchers trend to the same extent as the rest of the islands? The reason lies in previous experiences carried out by the island councils in all the islands, except Gran Canaria. These previous experiences have meant that the functioning of the discount vouchers was known by both businesses and consumers and that trust was placed in them, something that has not happened in Gran Canaria.
However, initially, Gran Canaria started with 29,620 vouchers available, even more than Tenerife. It only managed to sell 26% on the first day, and by Tuesday, at 5:00 p.m., it had reached 14,775. This means it has sold approximately half. Therefore, there is another half still pending. In total, 80,000 vouchers have been put into circulation in the Canary Islands, distributed among the islands as follows:
Redemption and Business Volume
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Despite still having more than half of the available vouchers pending sale, Gran Canaria ranks second in business volume driven by the redemption of consumption vouchers at the stores participating in the initiative of the Ministry of Economy, Industry, Commerce, and Self-Employed of the Canary Islands Government. Only Tenerife is ahead, having redeemed coupons worth €851,713.95.
Exchange of vouchers in shops until 5:00 p.m. on Tuesday, April 16, the second day after the launch. / Source: Ministry of Economy, Industry, Commerce, and Self-Employed of the Canary Islands Government
Participating Stores
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Gran Canaria has 264 stores participating to date, five more than the day before the campaign started. The number is much lower than in Tenerife, which has 846 participating stores with 264 waiting to join the initiative, making a total of 1,110 establishments where discounts can be redeemed. Across the Canary Islands, there are just over 2,000 stores that have joined – between completed and pending requests – the campaign. Gran Canaria only represents about 13% despite being the second most populous island in the Canary Archipelago.
There is still a long campaign ahead, as the initiative ends on June 15. So, Gran Canaria’s stores can still decide to participate and residents can buy the discount vouchers to shop at the stores affiliated with the program. Only by doing this, can Gran Canaria benefit from an initiative that is already a success in the rest of the Canary Islands. Here is more information about the success of the discount vouchers in the Canary Islands.
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What are discount vouchers and how do they work?
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To take advantage of the trade-boosting discount vouchers in Gran Canaria, as well as in the rest of the archipelago, it is useful to know what they consist of and how they work. Here’s a reminder.
Discount vouchers are a financial tool that allows consumers to purchase products or services at a reduced price, issued by public or private entities. The Canary Islands government has launched a discount voucher programme with the aim of revitalising the local economy on each island.
These discount vouchers can be used by consumers at a wide network of stores participating in the scheme. To use them, you only need to present them at the establishment, and the merchant will deduct the voucher’s value from the total purchase price.
The Canarian vouchers, worth €25, can be redeemed until June at participating establishments for items costing double that value, i.e., €50. The initiative allows a single user to redeem multiple vouchers in a single purchase.
A maximum spending limit of €5,000 per establishment has been set, so vouchers can be used until the store’s balance runs out, as has already happened in several cases.
Manuel Domínguez visits the commercial area of Triana with the consumer voucher campaign. / José Carlos Guerra
The Advantages of Vouchers and Conditions
Discount vouchers offer a series of benefits for both consumers and participating businesses. For consumers, it means savings on their purchases, while for businesses, it implies an increase in sales, especially during low-traffic periods, as well as helping to retain customers and enhancing their brand image.
If you want to participate in the campaign as a consumer, you should be aware of the following requirements:
- Website: bonoconsumoarchipielago.com.
- Deadline to purchase vouchers: from 15th April 2024 to 15th June 2024 or until stocks last.
- Maximum number of vouchers: the maximum number of vouchers that can be purchased is four (€100), but you can buy up to twice the amount invested (€200) at any establishment on the island.
- How to buy vouchers: To make purchases, you will need to present your ID before payment at the store, as well as the voucher in printed or digital format.
- How to redeem vouchers: One user can redeem multiple vouchers in a single purchase and also purchase vouchers on multiple islands. In other words, buy up to a maximum of 28 vouchers (4 per island) for which you will pay €700, but you can spend €1,400.
- Spending at each establishment: each store has a maximum spending limit of €5,000, so vouchers can be used until the store’s balance runs out and before the campaign ends.
- Participating stores in the campaign: the participating establishments will be those in food, electronics, IT, telephony, DIY, toys, party items, bookstores, fashion, sports, and accessories, among others.
