I'm amused to read a Swedish report of how one store's attempt to undercut a rival store's opening sale backfired.
A daring public relations stunt by a newly opened electronics store in Malmö left its long established competitor with empty shelves and its CEO seething.
“I didn’t know if I should laugh or cry,” said Anders Nilsen, CEO of the Elgiganten electronics chain, to the Dagens Media newspaper.
Nilsen was standing in front of a Malmö Elgiganten outlet to welcome customers interested in taking up the store’s offer of low priced flat screen televisions.
The sale was designed to coincide with the opening of the competing Media Markt electronics retailer's Malmö store.
But shortly after Elgiganten opened its doors, Nilsen watched in disbelief as a large truck pulled up and 20 people hopped out and started loading up the sale-priced televisions.
“I realized at once what was happening,” he told the newspaper.
“I was a little upset. They probably hadn’t assumed that I would be there. The guy in charge confirmed they were from Media Markt and then went to call headquarters.”
The stunt was a coup for the upstart Media Markt, which later sent an email to Nilsen confirming they had pulled the stunt.
Nice one! If your competitor tries to upstage your opening with a cut-price sale, buy up all the cut-price goods before anyone else can get to them! It takes deep pockets to do that, but if you've got 'em, flaunt 'em.
I wonder if they'll have a "slightly used sale" of their booty?