The city of Newark, Newark Alliance and partners on Monday announced a Newark Gift Card bonus sale, marking the newly minted tradition in time for the holiday season. The e-gift card can be redeemed citywide at more than 150 participating Newark businesses, supporting the local economy.
The project is led by Newark Alliance, presented by Prudential Financial and supported by Go Ironbound and Invest Newark. Cards are available in any denomination from $5 to $250 and never expire. Customers can purchase gift cards for themselves or others and can send them via email or text message. With the 40% bonus offered through December, shoppers can extend their spending power by purchasing a card worth $140 for the price of $100, while supplies last.
Participating businesses range from restaurants, fitness centers and clothing stores to DJs, art galleries and spa services. To view the complete list, click here.
“We are thrilled to support the 2023 Newark Gift Card to target spending at local businesses, especially during the holiday season,” Evan Weiss, CEO of the Newark Alliance, said. “Newark has seen incredible growth in the local economy since the Newark Gift Card was introduced, and we look forward to continued success this year.”
The Newark Gift Card was created by Newark resident and entrepreneur Tamara Remedios in 2021 to help Newark’s small businesses recover from the negative impact of the COVID-19 pandemic. In the past two years, the initiative has reached nearly $500,000 in sales, with organizations like Great Oaks Charter School leading the way by purchasing $10,000 of cards for holiday gifts for the third year.
“As a small business advocate in Newark, I acutely understand the power of shopping locally,” Remedios said. “We encourage residents, visitors and employees to think of the Newark Gift Card for your everyday purchases or holiday shopping needs.”
Research indicates that the average local independent retailer puts 47% of its revenue back into the community, compared to only 14% from nationwide franchises. That number jumps to 73% for local restaurants — a stark contrast to the 30% reinvested by national restaurant chains.
“Prudential is proud to call Newark home for nearly 150 years, and we understand how important the small business community is to the vitality of the city,” Shané Harris, vice president and head of social responsibility and partnerships and president of the Prudential Foundation, said. “We are excited to again serve as the presenting sponsor of the Newark Gift Card to help strengthen the local economy.”