Layaway might be something to think about this holiday season, especially on big ticket items or large sales.
From BrandWeek.com: Kmart Pitches Layaway Service to Holiday Shoppers
Kmart has launched a campaign that positions the company as the only mass discount retailer to offer a layaway service. The hope is to drive sales at Kmart stores this holiday season, as consumers search for penny-pinching options during the recession.
Print ads will break in November books and broadcast spots will start airing this week. The ads feature Mr. Blue Light, Kmart's animated light bulb, who promotes the layaway service as a way to get gifts at affordable prices in time for Christmas. The service allows consumers to place a deposit on a purchase and have the retailer hold it until a full payment is made at a later time.
"People are going to have to be very creative this year to get Santa to show up," said Terry Brophey, vp of integrated marketing communications at Kmart, Chicago. "And the whole campaign is based on promoting value."
The effort, via Draftfcb Chicago, targets moms in their mid 20s and older, with a household income starting at $50,000.
Now with the current economic downturn, retailers stand to benefit from such services and analysts predict more advertising that promotes bargains.
"People cut back on general spending and they go from Neiman [Marcus] to Macy's and from Macy's to Target," said Rachael Croson, a professor of behavioral economics at the University of Texas at Dallas. "People are still going to spend this time [shopping]; what changes is where."
Click to read the story in its entirety:
http://www.brandweek.com/bw/content_display/news-and-features/retail-restaurants/e3id5cad753451dc1bf07e2329626d66b35
From BrandWeek.com: Kmart Pitches Layaway Service to Holiday Shoppers
Kmart has launched a campaign that positions the company as the only mass discount retailer to offer a layaway service. The hope is to drive sales at Kmart stores this holiday season, as consumers search for penny-pinching options during the recession.
Print ads will break in November books and broadcast spots will start airing this week. The ads feature Mr. Blue Light, Kmart's animated light bulb, who promotes the layaway service as a way to get gifts at affordable prices in time for Christmas. The service allows consumers to place a deposit on a purchase and have the retailer hold it until a full payment is made at a later time.
"People are going to have to be very creative this year to get Santa to show up," said Terry Brophey, vp of integrated marketing communications at Kmart, Chicago. "And the whole campaign is based on promoting value."
The effort, via Draftfcb Chicago, targets moms in their mid 20s and older, with a household income starting at $50,000.
Now with the current economic downturn, retailers stand to benefit from such services and analysts predict more advertising that promotes bargains.
"People cut back on general spending and they go from Neiman [Marcus] to Macy's and from Macy's to Target," said Rachael Croson, a professor of behavioral economics at the University of Texas at Dallas. "People are still going to spend this time [shopping]; what changes is where."
Click to read the story in its entirety:
http://www.brandweek.com/bw/content_display/news-and-features/retail-restaurants/e3id5cad753451dc1bf07e2329626d66b35
