Promotions are a big part of the Super Bowl. It could come in the form of a promotion for food at your local supermarket, it could be a multi-million dollar Super Bowl ad or it could be a furniture promotion. Wait, a furniture promotion? That’s what a store in Houston decided to do for Super Bowl XLVIII.
So what kind of promotion are we talking about? How about free furniture if the Seattle Seahawks won the game. Well, that’s exactly what happened and as a result, Gallery Furniture is now out $7 million. That’s right, $7 million in free furniture because of Seattle’s beatdown of Denver.
The promotion worked by awarding a full refund to those who spent more than $6,000 and had their furniture delivered by Super Bowl Sunday. The winning team was selected via a coin toss. The coin came up Seattle and the rest is history for this Houston business. Here’s what store CEO Jim McIngvale had to say about the whole situation:
“Doing a promotion like this creates affinity, creates trust with the customer, makes you relevant. We already have people sending us videos of them jumping up and down celebrating, so I have no doubt that what we will lose is already worth it to our business.”
As you can gather, McIngvale thinks this ‘investment’ will pay off in the long run. Word of mouth is great, but unless he’s running another crazy special where he comes out on the positive side, I don’t know how a $7 million loss is good for business. At least he has people talking…