Jim “Mattress Mack” McIngvale — owner of the Houston-based Gallery Furniture — lost close to $685,000 two weeks ago on a promotion where customers who spent $5,000 would have their purchases paid for if they accurately guessed the final scores of the AFC and NFC Championship games. Mattress Mack apparently didn’t learn his lesson after he upped the stakes with a Super Bowl promotion. If customers spent more than $6,000 in the two weeks prior to kickoff and the Seahawks won the store would pick up the tab.
McIngvale doesn’t seem too upset about the losses:
“It’s great,” he said. “It’s the perfect outcome for our customers. … In the long term, we made a lot of happy customers,” he said. “That’s what it’s all about: building customers for life.”
This certainly counts as a crazy way to drum up some free publicity. (Reviving and paying for the naming rights of the GalleryFurniture.com Bowl would probably be a cheaper alternative, right?) Maybe for his next plan, Mattress Mack will offer free lifetime furniture for anyone who can accurately fill out an NCAA tournament bracket.
About 1,000 people cashed in on the promotion. They’ll be able to collect their winnings at a party at one of the Gallery Furniture locations on Feb. 17. Let’s hope Chuck Norris will attend.