Biz Buzz

OK, we used the PR spin from Kroger to pull you in. But, the marketing ploy is an interesting way for a retailer to try to cash in on the stimulus checks. A excerpt from a Kroger press release:

CINCINNATI, Ohio, April 16, 2008 – The Kroger Co. (NYSE: KR) said today that beginning May 2, 2008, customers can receive free groceries through a gift card program available exclusively in Kroger stores. The program allows Kroger customers to exchange their tax refund or economic stimulus checks for a Kroger gift card with an extra $30.00, $60.00 or $120.00 added to it. Gift card amounts correspond to the payment amounts outlined by the Internal Revenue Service for the federal economic stimulus program.

For example:
Load This Amount: Receive Kroger Gift Card At This Amount:
$300 $330
$600 $660 (2 gift cards valued at $330.00 each)
$1,200 $1,320 (4 gift cards valued at $330.00 each)

“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 B. Dillon, Kroger chairman and chief executive officer.

Kroger customers who are interested in exchanging their refunds or economic stimulus checks should present their check and customer loyalty card at their local store’s Customer Service center from May 2, 2008 through July 31, 2008. The program is limited to one offer per household with a limit of $1,200.00.