Sears tests
program for jobless shoppers
By Monée Fields-White -
Chicago Business
June 29, 2009
Sears Holdings Corp. is planning to
give customers who lose their jobs a break on appliance purchases,
part of an effort to spur sales amid the economic recession.
Sears customers who spend at least
$399 on its Citibank-issued credit card for appliances and related
merchandise between July 6 and Aug. 1 will receive help on payments
if they are out of work 60 days to a year after making the purchase.
One-twelfth of the purchase price
will be credited to their accounts for every month they are
unemployed. The full debt will be forgiven for customers who find
themselves jobless for more than a year, and they will be able to
keep the appliance.
The new campaign “was borne out of
listening to our customers; and they kept telling us that they were
deferring their much-needed appliance purchase because of concerns
over their personal situation or the economy in general,” said Kevin
Brown, chief marketing officer for home appliances, in an interview.
This will provide shoppers “the
confidence to go ahead to make that purchase,” said Mr. Brown,
adding that Sears is the only one among appliance retailers to make
such an offer.
The campaign, which will be
officially announced tomorrow, is being tried out for a month and
could be extended further, Mr. Brown said. The program also covers
delivery, service and installation costs.
Same-store sales at the Hoffman
Estates-based retail chain dropped 11.7% during the first quarter
that ended May 2.