Furniture store ‘lost’ $7 million on Super Bowl promotion (Video)
By Bryan Rose
A few weeks ago we covered a story where Gallery Furniture lost $600,000 dollars on an NFL Conference Championship promotion, which at the time seemed like a lot of money.
But that’s nothing compared the $7 million dollars Gallery Furniture and owner Jim “Mattress Mack” McIngvale lost over his Super Bowl promotion.
Of course, the company obviously purchased insurance for the promotion – so Galler Furniture didn’t technically lose $7 million dollars, though they did end up giving away $7 million dollars worth of merchandise for free.
The Houston-based furniture store told customers that if they spent more than $6,000 dollars and had the items delivered before the big game, all of the items would be free if the Seattle Seahawks won.
It was a 50/50 gamble for the customers, so, not a bad way to try and score some free product.
Seems like everybody wins here. Gallery Furniture gets tons of promotion for nothing more than the cost of insurance and customers get millions of dollars in free merchandise.