Big Ideas We Need Now — #5 & 6
Inspired by This Magazine's feature "40 ideas We Need Now," we invited some of Okanagan Life's regular contributors, along with other notable Valley residents to give us a big idea whose time has come, for the Okanagan and for the world. Sadly, more than 90 per cent of those we invited said they were simply too busy. Perhaps, then, the first big idea is that we should all slow down so that we actually have the time to contemplate how to collectively make a better future. Still, we managed to receive a diverse array of ideas that are sure to make you think, make you laugh, make you angry or even make you want to put in your own two cents. Well, here's your chance. Comment on these ideas, or add your own by emailing us. In the meantime…
Knowing Discretionary Spending and Priming the Elements of Discernment
by Don Elzer
Discretionary spending is the amount of money we spend as consumers after we have paid for our staples such as housing. Collectively in the Okanagan we spend about $4.5 billion per year, however, we don’t know a lot about our discretionary spending habits.
Such spending is at the core of knowing and understanding how to shift consumer behaviour and ultimately what drives our local economy. A shift in such local spending patterns can retain millions of dollars locally, and conversely, can mean millions of dollars leaving the community.
We must turn our community economic development agencies into local knowledge centres that understand the details of local discretionary spending patterns. Local initiatives should help compete against big box retailing and the global marketplace in order to retain local spending within the community economy.
Promoting efforts to buy locally grown food, locally made goods and purchase services owned and operated within the community could add 30 per cent value to our economy in the Okanagan and create a formula of sustainability.

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