Maximizing potential of shopping vouchers becomes hot business topic

Premier Liu Chao-shiuan announced the consumption voucher policy Tuesday, which, if approved by the Legislative Yuan, will see the state treasury hand out NT$82.9 billion in the hope that the country’s citizen’s will indulge themselves with a little luxury shopping next year, thereby boosting consumption.

When the vouchers are released, it will create an army of consumers in the domestic market and businesses might not benefit if they fail to come up with innovative ideas to attract buyers, according to Vice President Vincent Siew.

Hung Chun-huei, a senior industry analyst in the field of consumer electronic products at the Taipei-based Market Intelligence Center,suggested Saturday that businesses should brainstorm attractive loss-leader promotional packages,explaining that a successful promotional strategy could be one that “amplifies” the value of the vouchers.

When consumers feel they can purchase things with the coupons that normally cost over NT$4,000 or even NT$5,000, demand will surge as shoppers snap up what they see as bargains, he noted.

Meanwhile, the “multiplier effect” theory has already been widely adopted by hotel operators around the country, with several five star hotels having disclosed plans that they will offer special consumption voucher packages, such as one set of coupons for a standard double room — a considerable saving over the normal cost of such accommodation.

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