Good News for Grocery Shoppers, but Not the Economy
Kroger, the parent company of King Soopers, is offering customers an incentive to spend their economic stimulus checks on food in the company’s grocery aisles.As 9News reports:
Customers who bring in their $300, $600 or $1,200 stimulus payments, or their tax refund, and purchase a King Soopers/City Market gift card will receive an additional $30 on each $300. A $300 gift card would be worth $330, a $600 card would be worth $660 and a $1,200 card would be worth $1,320.
But squirreling away the cash for products that would have eventually been bought anyway isn’t how the Bush administration intended shoppers to dispose of their economic stimulus checks.
With the rising price of food, the promotion may be a boon for individual shoppers. But the economic stimulus checks that start arriving in mailboxes this month were intended to give the weakening economy a jolt. But putting the additional money, generally between $600 and $1,200 per household, on a King Soopers’ gift card and spending it gradually on necessities won’t have much of a stimulating effect.
The nationwide offer begins May 2 and runs through July 31 at all Kroger grocery stores, according to the company.
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