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Businesses Offering Big Incentives On Big Purchases
Stocks have had their worst start to March ever, ending at 12-year lows. Because of that, retailers are having to work harder to get people to make purchases.
Reporter: Chris Frank Email Address: chris.frank@kake.com |
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Monday, March 2, 2009
With unemployment rising and stock markets falling, businesses are looking for different ways to entice people to buy.
Most people are being more careful with their money, particularly when it comes to large purchases.
Major automakers are scheduled to announce February sales results on Tuesday. The expectation is that sales numbers will be at 27-year lows.
Many manufacturers and dealers are offering various incentives to potential buyers in hopes of boosting sales.
Davis-Moore is offering complimentary car care for 12 months, or up to 25,000 miles on every vehicle. Sean Tarbell, General Manager for Davis-Moore says they haven’t seen the drop in sales like other markets have and that the maintenance incentive is working.
Car makers like Hyundai know that the fear of layoffs can keep people from a car purchase. They have set up a return offer that gives customers the flexibility of returning their car under the circumstances of a job loss within a year. Hyundai also offers to make the car payment for three months while the buyer looks for a new job if they’d prefer to keep the car.
The ultimate measurement of these incentives will be whether or not they help businesses survive the economic downturn.
