In the face of slowing consumer spending, Pacific Sogo Department Stores Co (太平洋崇光百貨) launched a five-day sale yesterday, giving consumers a NT$500 rebate for every NT$5,000 of goods they purchase.
The new promotion comes little more than a month ahead of Pacific Sogo’s big anniversary sale on Nov. 6.
The company is trying to fend off competition from Breeze Center (微風廣場) and Core Pacific City Living Mall (京華城), whose anniversary sales began yesterday.
“We are hoping to attract more customers by doing this,” Janet Tsao (曹春輝), associate manager of Pacific Sogo’s sales and promotion department, said by telephone yesterday.
The department store chain expects to generate NT$500 million in sales over the five-day period, up about 67 percent from NT$300 million a year earlier.
During the first eight months of the year, Pacific Sogo’s sales grew by just 2.5 percent from a year earlier.
As a result, the company is placing its hopes for a good year in the fourth-quarter anniversary sale.
Pacific Sogo’s rival Shin Kong Mitsukoshi Department Store Co (新光三越百貨) also announced on Wednesday that it would offer the same rebate during the Nanjing West Road Store’s (南西店) anniversary sale, which will run from Oct. 2 to Oct. 21.
After taking over two more stores from Idee Taipei (台北衣蝶百貨) at the end of May, the company expects the three stores to generate NT$2.15 billion in sales during its anniversary, up nearly 50 percent from NT$1.44 billion a year earlier.
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