An innovative way for firms to boost demand in a recession

Some firms offer generous staff discounts. Others encourage employees to refer friends and family to their business. But Panasonic have a different approach…

This article from The Times explains how Panasonic are appealing to the loyalty of their workforce as a way of boosting demand for their wide range of consumer products.

Actually it is just the managers and directors of the business who are being asked to put their hands into the theiro pockets.

With demand hit by a strong yen, Panasonic is urging its 10,000 managers in Japan to each buy at least 100,000 yen (£758 at the time of writing) worth of its products before July 2009. Panasonic directors have to dig deeper - they have to spend at least 200,000 yen.