Is King Soopers gift card promotion for real?
laredotornado
I live in the Denver area and the local grocery store is named King
Soopers. I've heard rumblings of a promotion in which you buy a $300
gift card and they'll give you $25 free of groceries. Is there a
catch here? I'm not really looking to spend $300 at any particular
store (e.g. Home Depot, Applebees), but I guess I can pick one. Also
does the gift card cost additional money to buy and lose value as the
months dwindle by?
Any experience anyone's had with this promotion is greatly
appreciated, - Dave
Goomba38
> Hi,
>
> I live in the Denver area and the local grocery store is named King
> Soopers. I've heard rumblings of a promotion in which you buy a $300
> gift card and they'll give you $25 free of groceries. Is there a
> catch here? I'm not really looking to spend $300 at any particular
> store (e.g. Home Depot, Applebees), but I guess I can pick one. Also
> does the gift card cost additional money to buy and lose value as the
> months dwindle by?
I don't suppose you called them and asked for specifics? Many, many
stores are encouraging you to commit to shopping (spending!) there. They
all seem to be offering the same enough deal. It has been in the news
lately. Not something I'm doing, I have to admit.
What does Clark Howard say? He's *my* financial guru. I hear he's also
considering running for mayor of Atlanta!
www.clarkhoward.com
Chloe
news:5LOdnS8J64a4DrbV...@comcast.com...
> laredotornado wrote:
>> Hi,
>>
>> I live in the Denver area and the local grocery store is named King
>> Soopers. I've heard rumblings of a promotion in which you buy a $300
>> gift card and they'll give you $25 free of groceries. Is there a
>> catch here? I'm not really looking to spend $300 at any particular
>> store (e.g. Home Depot, Applebees), but I guess I can pick one. Also
>> does the gift card cost additional money to buy and lose value as the
>> months dwindle by?
>
>
> I don't suppose you called them and asked for specifics? Many, many stores
> are encouraging you to commit to shopping (spending!) there. They all seem
> to be offering the same enough deal. It has been in the news lately. Not
> something I'm doing, I have to admit.
Kroger in my area is offering up to four cards per family (in $300 or
multiples thereof) with an extra 10% added. Since I shop at Kroger anyway
(mostly buying weekly loss leaders), I'm planning on buying the maximum
amount in cards between now and July. I suspect they easily make up the 10%
by either investing the up-front money, or through increased sales from
people spending more than they would otherwise (since they have a card in
their hands), or via balances that permanently go unredeemed.
I don't know of anyplace else I can get that kind of return on a small,
short-term cash investment, so it works for me. Also, by charging the store
cards to a rebate Mastercard, I get an additional 3% back. I could get that
regardless, but it still sweetens the deal a bit.
Dave
>
> Kroger in my area is offering up to four cards per family (in $300 or
> multiples thereof) with an extra 10% added. Since I shop at Kroger anyway
> (mostly buying weekly loss leaders), I'm planning on buying the maximum
> amount in cards between now and July. I suspect they easily make up the
> 10% by either investing the up-front money, or through increased sales
> from people spending more than they would otherwise (since they have a
> card in their hands),
Bingo! Most people shop at 2 or 3 different grocery stores, because of
selection and price on products varying greatly. It's unusual to see one
store have the best deal on most of the items you buy. So the Kroger
promotion is looking to make money for Kroger 2 ways:
1) People will be more likely to buy ALL their grocery items at Kroger, as
the money is already spent anyway. Thus, many more of the items that are
high-profit at Kroger will end up in the cart, when these card purchasers
are shopping at Kroger.
2) People will likely spend MORE money, as they aren't paying "cash" for
their purchases. This is a well-known phenomenon, and the reason that
casinos use chips instead of cash. (so you gamble more, because after all
it's not a hundred DOLLARS, it's just a stupid little plastic chip...)
My bet, Kroger makes back a lot more than the 10% they are chipping in as an
incentive. -Dave
clams_casino
Shaw's is doing that in New England - extra 10% on gift cards up to $1200.