Sears has created an interesting intersection of two popular marketing tools with the announcement of its latest promotion. The Sears Days Lowest Prices of the Season Member Bonus Event combines loyalty program membership with price matching guarantees that become common leading into the holiday season, creating an event that encourages shoppers both to join the Shop Your Way loyalty program and target their purchasing efforts toward a specified time period.
From 6 p.m. to 9 p.m. on Oct. 16, Shop Your Way members will have the chance to shop at any Sears location for “the lowest prices of the year.” If at any point through Christmas Eve the location offers a lower price for the same product, the member will receive the difference in Shop Your Way points.
“More people are starting their holiday shopping early so we wanted to do something extra special for those members to help them get a jump start on their gift lists,” said Joelle Maher, president and chief member officer for Sears. “It’s the perfect combination of beating the holiday rush and peace of mind knowing you’re getting the best deals of the holiday season – guaranteed.”
On its surface, the promotion seems simple enough: Plenty of retailers have price match guarantees, and even more have some sort of member discount for shoppers that belong to their loyalty programs. What makes this promotion unique is the underlying structure keeping consumers within the Sears ecosystem. First, the price match is restricted not only to Sears, but to the same location in which the original item was purchased. This ensures that the brand isn’t held accountable for prices at other competing chains, and that shoppers keep Sears top of mind when shopping early for the holidays.
What’s more, the promotion refunds not cash, or even store credit, but Shop Your Way points. This creative detail again guarantees that the promotion retains shoppers, as well as directing them to engage with the Shop Your Way program to receive the full value of their purchases. These small details, perfected by retailers looking to retain customers and bolster loyalty program enrollment, can sometimes make all the difference in the competitive retail space.