The 2014 Super Bowl didn’t just crown winners; there were also clear losers, both direct and indirect. One notable example is American businessman Jim McIngvale, owner of a furniture chain in Houston, Texas, who ended up losing a substantial amount of money due to a bold promotional offer.
McIngvale, known for his playful nature, decided to offer a refund to customers if the Seattle Seahawks emerged victorious over the Denver Broncos in the 2014 Super Bowl. However, this offer came with a condition: customers had to spend at least $6,000 on furniture and furnishings. Approximately a thousand customers took up the challenge, with an average spending of $7,000 each.
Unfortunately for McIngvale, the Broncos emerged victorious, resulting in him losing nearly $7 million overnight. Despite this significant loss, McIngvale remains undeterred, seeing the promotion as a way to build trust and rapport with his customers. He views the media attention generated by the offer as valuable publicity and even expresses a willingness to repeat the promotion in the future.
For McIngvale, the $7 million loss represents only a fraction of his group’s annual turnover, and he remains optimistic about the potential benefits of such bold marketing strategies.
Source: Sportune.fr
