Ari Monkarsh, a business expert, shares his thoughts, opinions and guidance on how to develop yourself as a professional, and your business.
Thursday, January 4, 2018
Businesses that Donate Portions of Your Purchase to Charity
Charity is a wonderful way to give back to your local community and the world. There are many ways you can participate in philanthropy; volunteer your time, donate your money, or simply raise awareness. You can also patronize businesses that use your money for a good cause. There are a number of businesses who give back to their communities and others by allocating a portion of certain purchases to be donated to a good cause to help people in need. Here are two excellent examples of these kinds of businesses.
The name “bombas” comes from the word in Latin for bumblebee. The company’s mantra is “bee better” because bees all work together in a hive with their combined actions having a big impact on their world.
The company puts that slogan on the inside of each pair of their socks to let it be known that you helped someone through your purchase because Bombas donates a pair of socks to someone in need for each pair sold to the tune of more than five million donated thus far!
Bombas had spent two years developing the perfect pair of socks that would give extra support and comfort with extra cushioning on the footbeds, prevent irritation by placing blister tabs by your ankles, reduce moisture, and provide a tight fit at the arches by using a special honeycomb stitching at the middle of each sock. These are carefully crafted socks and many people love them.
The Company Store
The Company Store, primarily a direct-to-consumer retailer of textiles and home goods, has offered everything to outfit your bed including sheets, pillows, mattress pads, and more. When you purchase one of their comforters, their “Buy One, Give One” program also donates one to a child in need.
On Thursday, December 21, 2017, Home Depot announced that it had acquired The Company Store, an e-commerce and catalog retailer. The Wisconsin-based store also has five physical locations, but they were not a part of this deal.
This acquisition adds to Home Depot’s online arsenal, which is an important growth area for the company. Almost 60 percent of store-based and online sales are influenced by a prior digital visit, and online sales of 6.4 percent are double that of the retailer’s nearest competitor. Home Depot’s online business has grown by approximately $1 billion in each of the past four years so it is a key growth engine for their overall business.
With the acquisition, Home Depot has an extra way to help customers complete every room in their house and expand their online décor business into broader categories. The Company Store could also receive a marketing benefit by being a part of Home Depot with its close to 2,300 stores.
These are just two companies that help others when purchases are made by consumers, so feel confident that your money is going to a good cause.