Many consumers today prefer to shop brands that invest in the community, whether locally or abroad. As a company with over 50% female leadership that gives back to the local community, Brad’s Deals cares deeply about equality and empowerment. In 2020, we are committed to using our platform to help support girls and women as well as Black-owned businesses and their communities. We hope to highlight more businesses and events that promote these values, like the Kate Spade New York social initiative, “on purpose”.
A beloved brand in many households, Kate Spade New York engages in what they call “smart business with a strong social mission”. In 2014, the company launched a social initiative “on purpose” to help empower women and girls, falling in line with the company’s mission, which is “to inspire women to be the heroines of their own story”. Through this initiative, Kate Spade New York established a partnership with Abahizi Rwanda, an independent, certified b corp, employee-owned handbag manufacturing company. Empowerment classes focused on mental health, financial literacy, English, health and well-being, and more, are offered during the workday to the employees of Abahizi Rwanda, almost all of whom are women. A social impact fee that’s built into the cost of each Kate Spade New York product allows Abahizi Rwanda to do this. In 2019 they produced 40,314 handbags and provided over 230 full-time jobs to women, who comprise 85% of their leadership positions.
On August 6-9, 2020, 5% of all Kate Spade New York’s net sales (up to $78,233) will be donated to their non-profit partner Tides Foundation to further support the empowerment of women and girls of Masoro, Rwanda, where Abahizi Rwanda is located. Over the past several years, the “on purpose” initiative accelerated the building of a playground, health clinic, and community center. Currently, the initiative supports local non-profits in the community, as well as another community center that includes a library, computer lab, athletic facilities, and communal meeting space.
What Are My Points and Miles Worth?
Comparing one type of point or mile to another is like comparing apples to oranges. They’re similar, but not equal. Each “award currency” one earns through spending money on credit cards, flying an airline, or staying in a hotel is only as valuable as what you can redeem them for. That redemption can change overnight, at the whim of the company that issues them. This article is an attempt to place a tangible value to each point or mile you may earn, based on research across the industry, and as much personal experience as I can offer from my millions of miles redemptions.
Miles vs. Points
First, what’s the difference between miles and points? Miles are usually issued by an airline, like American Airlines or United Airlines. If your credit card earns “miles,” it’s usually a co-branded airline credit card, one that the credit card company offers on behalf of an airline. An example of this is the United MileagePlus Explorer Card, which earns United miles for spending on the card.
If your credit card earns “points,” it can either be a co-branded card or a card issued by the bank’s own brand. An example of a co-branded card earning points is the Chase IHG Rewards Club Premier card, which earns IHG points. An example of a bank-branded credit card earning points is the Chase Sapphire Preferred card, which earns Ultimate Rewards points. No points currencies are the same, and so earning one point in one program would not equal the same value as earning one point in another.
My Valuation Strategy
There are several data points that I referenced when creating the below values for each point and mile currency. Again, there’s not an exact science to this, but we can infer some general “goal values” to redeem your points and miles for so that you know you’re at least getting a good value back for your spending.