Sears and Kmart want your stimulus checks and the chains are willing to sweeten the pot to get them. The retailers announced that consumers who bring their government stimulus checks to either store to exchange for a gift card will receive a bonus card worth an additional 10 percent.
In other words, bring in your $300 stimulus check straight from Uncle Sam and Sears or Kmart will give you two gift cards: one for $300 and the other for an additional $30. Gift cards can be redeemed in stores or online at Sears, Kmart and Lands' End. The promotion is scheduled to last from May 14 to July 19, 2008.
"In this tough economy, we know that our customers are focused on how to make their money work harder for them," said W. Bruce Johnson, interim CEO and president Sears Holdings Corporation. "Every day we Sears, Kmart and Lands' End are intent on bringing our customers the value, quality and style they deserve -- and our stimulus check program now provides even more value."
Kroger is offering a similar program to Sears with gift cards for the full price of the stimulus check plus an additional card equal to 10 percent of the value of the government rebate.
"Grocery bills represent a significant expenditure for the average American family. In fact, the average family of four spends between $105 and $235 per week on food purchased at a store and prepared at home," said David Dillon, Kroger chairman and chief executive officer, in a company press release. "Kroger's program allows our customers to stretch their grocery dollars further."
Scott Krugman, a spokesperson for the National Retail Federation, told The Associated Press, "You're going to see a lot of retailers that focus on necessities follow suit. What we're seeing at Kroger and Sears definitely raises the bar."
Discussion Questions: What do you think of the Sears Holdings and Kroger stimulus check gift card programs? Do you expect to see others follow suit or is there another type of program that you believe would be more effective?