Joined: 05 Dec 2007
Posts: 106
| Posted: Mon Jun 29, 2009 10:10 pm Post subject: Sears: Lose Your Job, Keep Your Purchase, Forget The Debt | |
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http://consumerist.com/5303885/sears-lose-your-job-keep-your-purchase-forget-the-debt
Acknowledging that skittish consumers are still unwilling to buy big-ticket items, Sears tomorrow plans to unveil a bold new guarantee: if you lose your job after charging a purchase worth $399 or more to your Sears card, the retailer will credit 1/12th of the purchase price to your account for each month you are unemployed. If you stay jobless for one year, the debt is entirely forgiven, and the appliance is yours to keep. "This was born out of listening to our customers," said Kevin Brown, chief marketing officer/home appliances. Customers were saying, "We're just in a spot where we're deferring major purchases due to our concern about our personal economy and the national economy." For the moment, the program will only apply to purchases made between July 6 and August 1. We're skeptical of these recession guarantees, which seem more like clever marketing than a fail-safe that consumers find useful. And since it's Sears, we'd definitely want to see the fine print before believing anything. Sears to modify payments if appliance buyers lose their jobs [The Chicago Tribune] what?! 
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Joined: 15 Mar 2008
Posts: 595
Location: stuffed in the back room of a kmart
| Posted: Mon Jun 29, 2009 10:23 pm Post subject: | |
| i see marketing's been sitting around watching honda/saturn commercials | |
Joined: 05 Dec 2007
Posts: 106
| Posted: Mon Jun 29, 2009 11:46 pm Post subject: | |||
Thats exactly what i was saying......they cant be original |
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Joined: 13 Jun 2008
Posts: 161
| Posted: Tue Jun 30, 2009 12:35 am Post subject: | |
| I wonder how this is going to increase that profit margin. According to what I've been told in store, the store made NO profit despite selling all this merchandise we have. If Sears cannot survive without relying on protection agreements, then it should not be in business. | |
Joined: 05 Jul 2008
Posts: 151
| Posted: Tue Jun 30, 2009 1:01 am Post subject: | |
| I wonder if employees SHLD lays off/ or fires from their Sears or Kmart stores would qualify for this next marketing scheme? Love to know the small print on this one. | |
Joined: 04 Mar 2008
Posts: 210
| Posted: Tue Jun 30, 2009 4:24 am Post subject: | |||
I had the same thought. Probably more disclamers than a "screamer" car dealer ad in the newspaper. |
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Joined: 08 Jul 2003
Posts: 6045
| Posted: Tue Jun 30, 2009 4:15 pm Post subject: better than account care I hope | |
| I hope this program is run better than account care . I know people who had to play phone tag and write letters for almost a year to get things sorta straightend out . The amount of required documentation can be cumbersome if not costly or ridiculous . | |
Joined: 08 Jul 2003
Posts: 6045
| Posted: Wed Jul 01, 2009 2:48 am Post subject: wll affect your credit | |
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One of the things to think about is how will this affect your credit . What if the Citi or HSBC who have the Sears cards report your payment suspensions to the Credit Beauru -how will that affect your score and/or credit limits on other cards.
Another being now the credit beauru knows you are unemployed which will affect your credit limits if not your rating . Also note this doesn't take effect til the 61st day of being unemployed. The company will pay 1/12 the balance and if you are unemployed for a year the balance will paid off ? I think Hyundai offered you could return the car or something if unemployed and that got little use. |
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Joined: 04 Jul 2003
Posts: 2353
Location: A little bit sideways!
| Posted: Wed Jul 01, 2009 3:57 am Post subject: | |||
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The big lie never ends with "The Holdings Corp" look at the new big lie in Michigan.
http://money.aol.com/news/articles/qp/pr/_a/kmart-introduces-smart-assist-savings/rfid227792941
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Joined: 28 Apr 2005
Posts: 2073
| Posted: Wed Jul 01, 2009 4:59 pm Post subject: | |||
Wow. A big 20% off on selected items.  Even with the discount their prices would still be higher than Walmart on just about everything. And then they can get back the discount on increased credit card interest rates:
"Citigroup Inc. has sharply raised interest rates on up to 15 million U.S. credit-card accounts as the industry braces for regulations that will limit such hikes, the Financial Times reported. Citi has boosted rates on cards it co-brands with retailers such as Sears Holdings Corp. /quotes/comstock/15*!shld/quotes/nls/shld (SHLD 66.08, -0.44, -0.66%) according to the report." Can anybody from the K-mart side of the company explain how they stay in business? I don't get it. Is it the attraction of shopping in empty stores and parking right next to the building? |
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Joined: 15 Mar 2008
Posts: 595
Location: stuffed in the back room of a kmart
| Posted: Wed Jul 01, 2009 10:41 pm Post subject: | |||
after working there for 8ish months i can safely say i have no fucking clue |
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Joined: 11 Apr 2007
Posts: 463
Location: Earth
| Posted: Wed Jul 01, 2009 11:26 pm Post subject: | |
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You'd be surprised to hear it, but Wal-Mart isn't actually much less, and sometimes it in fact is more expensive.
Wal-Mart just has this perception of low prices nowadays; they really don't have to be that much lower anymore. |
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Joined: 06 Jul 2003
Posts: 8212
Location: Central CA
| Posted: Wed Jul 01, 2009 11:45 pm Post subject: | |
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Yes, I am surprised to hear it since I actually shop at Walmart (on line) for just about every household related item I buy these days and I never fail to price shop on whatever it is that I'm about to order, including checks on Sears/Kmart, Target (depending on the merchandise), and other outlets (again depending on the type of merchandise). It may be YOUR perception but to those of us who have to count pennies to make it from month to month it's a cold hard fact.
If Sears were generally cheaper on similar items than Walmart, I certainly would not be buying from Walmart. When you have Schwarzenegger for a governor and therefore your total monthly income drops to less than $900, you drop that "I wouldn't shop at a lowbrow dump like Walmart." attitude damned quick, because you can't afford snobbery anymore. You buy from the place that offers you the best deal and so far, in over four years of shopping that way, Sears has VERY rarely beaten Walmart's price on like merchandise. Granted, the only things I shop either site for are clothing and household items and certain automotive items but in my personal experience and on the items I buy most, Sears just doesn't cut it as my retailer of choice. |
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Joined: 01 Feb 2008
Posts: 497
| Posted: Thu Jul 02, 2009 12:51 am Post subject: | |
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This is a complete crock. The limitation is that you must purchase the appliance between July 6, 2009 and August 1, 2009. Of course this is after the July 4th sales have ended. Now they are not going to be paying 1/12th of your entire balance on your Sears card but 1/12th of the appliance purchase price which was purchased between July 6-August 1.
Very misleading because if you already have a balance on your account that portion will not be paid or included in the amount that they claim will be "paid" by Sears. Thus a customer will think that their payments will not be due still. But alas, they will still have a remaining payment due while they are off from work for the previous balance. Now how is this going to be effecting consumers credit? If a customer is taking advantage of this program yet can't make payments on the previous balance is Sears going to continue charging late fees? |
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Joined: 11 Apr 2007
Posts: 463
Location: Earth
| Posted: Thu Jul 02, 2009 2:09 am Post subject: | |||
They're doing it as a test. If it works well, they'll continue the programs. It's going to be during actually, some of the largest sales nights of the year (Family and Friends Night), which is larger than anything we have on or around the 4th. Also, if a year passes and you haven't found a job, they pay off all of your debt. Anything that helps out in the consumer's benefit is a win. Kudos to Sears for trying something new. Alas, it is a marketing ploy as well, but even then, it's a nice gesture to help the consumer and ease their fears about the economy. |
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Joined: 11 Apr 2007
Posts: 463
Location: Earth
| Posted: Thu Jul 02, 2009 2:14 am Post subject: | |||
Nofs, me and my father buy groceries regularly from Wal-Mart (Woodman's is even cheaper), and as a college student, I'm rather poor and am always looking for the best prices (I actually shop at Aldi's, which tends to be cheaper even than Wal-Mart). I've looked up TV's for customers which have been more expensive at Wal-Mart; it's about 50/50 in either way. I've also picked up some food for my dad while at work and he was surprised when some things were a bit cheaper (w/o the discount). Sears on the whole, however, is more expensive than Wal-Mart, and I'd be a fool to claim otherwise. Just don't blindly buy into the perception that they're always cheaper just because the sign says 'Wal-Mart.' |
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Joined: 06 Jul 2003
Posts: 8212
Location: Central CA
| Posted: Thu Jul 02, 2009 3:00 am Post subject: | |
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I don't get groceries from Walmart... My daughter shops for me at Winco, an employee owned chain... they not only have the best prices in town... remarkable how much lower prices are when you don't have a bunch of execs and directors sucking up all your profit.... but I feel I'm actually helping the people doing the work instead of the ones in the boardroom, reared back in on their fat asses in some swivel chair and doing nothing but directing the flow of money into their own pockets.
I don't buy electronics from Walmart or any other mainline retailer... I on line shop Tiger Direct and Newegg in that department. The only reason I took issue with you was that I kind of got an inference that it was only an illusion or a matter of perception that Walmart... in general and on a day to day basis... has lower prices than Sears. I kind of envy you guys in the Midwest and East... you seem to have a wider array of choices than we do.... so many small towns in my area where Walmart might be the only major retailer in town. |
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Joined: 15 Mar 2008
Posts: 595
Location: stuffed in the back room of a kmart
| Posted: Thu Jul 02, 2009 3:02 am Post subject: | |||
fixed that for ya |
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Joined: 11 Apr 2007
Posts: 463
Location: Earth
| Posted: Thu Jul 02, 2009 3:26 am Post subject: | |
| Woodman's is just like Winco - employee owned. That's exactly why it's cheaper. My mother and grandparents all shop there and I've been trying to get him to as well, but he insists it's too far, I completely agree. | |
Joined: 11 Apr 2007
Posts: 463
Location: Earth
| Posted: Thu Jul 02, 2009 3:27 am Post subject: | |||||
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Joined: 08 Jul 2003
Posts: 6045
| Posted: Thu Jul 02, 2009 3:34 am Post subject: they'll let you keep your appliance | |
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I keep on hearing and seeing in the news where ' Sears will let you keep your appliance ' but it should read Sears HAS to let you keep your appliance purchased on a credit card .
Credit card usage is unsecured debt- it is not like buying a car where they can repo it . A bankruptcy judge/court might be able to auction off your stuff to pay off debt but Sears or Citi cannot . They might be able to get in line wih your other debtors but they cannot repo it for non payment . From that standpoint Sears is sorta cutting you a break but if you already have 5k in Sears CC debt and a 800 dollar appliance I don't think it will matter . If your missing CC payments you are already in the crapper. |
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Joined: 15 Mar 2008
Posts: 595
Location: stuffed in the back room of a kmart
| Posted: Thu Jul 02, 2009 12:07 pm Post subject: | |||||||
i never said worse just that its been done and for the record my bullshit detector went off on those commercials too |
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Joined: 06 Jul 2003
Posts: 8212
Location: Central CA
| Posted: Thu Jul 02, 2009 4:09 pm Post subject: | |
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Hell, it's nothing but a thin makeover of the fricking credit protection plan pig all dolled up with new lipstick and being hung on people's fears and uncertainty about the financial climate in order to keep them consuming when rampant out of control consumerism helped bring about the meltdown in the first place.
Sears has marketed everything from natural disasters to the wars in the Middle East to Natural disasters such as hurricanes and floods... trading on fears and uncertainties is what corporations do best. This is not different, no matter how they gussy it up. |
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Joined: 28 Apr 2005
Posts: 2073
| Posted: Thu Jul 02, 2009 4:25 pm Post subject: | |||
You're right that Walmart is higher than some of the competitors MS, which is why they claim "always low prices" and not "the lowest". In my experience they are still far lower than K-Mart. For example, I mentioned a bottle of vitamins a couple of weeks ago: $15.39 at K-Mart, $6.79 at Walmart. Campbells soup: $1.67 at Walmart, $2.79 at K-Mart. These are huge percentage differences for companies which are supposedly in the same market. Maybe K-Mart relies on people who just don't bother to compare prices. K-Mart seems to have few competitive advantages. The prices are high, the selection is poor, the stores are often in bad shape, the help is disgruntled. It's the discount version of Sears... Last edited by allhandsabandonship on Thu Jul 02, 2009 5:46 pm; edited 1 time in total |
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Joined: 01 Feb 2008
Posts: 497
| Posted: Thu Jul 02, 2009 5:31 pm Post subject: | |||||
I'm calling BS. It's too complicated for consumers to understand all of the little nuances and exceptions. The salespeople are not going to qualify the customers first to let them know that any prior balance to the appliance purchase isn't going to qualify for the help. Salespeople don't all tell customers the honest truth as it is...huge opportunity for misleading customers. |
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