Win The VAT Back At Lovehoney!
Alistair Darling is trying to give the economy a big stimulus by reducing the rate of VAT from 17.5% to 15%. But we've got a better idea!
No matter which side of the political divide you're on, it's hard to imagine that chopping the VAT rate by 2.5% is going to have a major effect on consumer spending.
In the context of Lovehoney's already low prices and incredible free delivery, we don't think individual customers would notice the savings if we reduced prices by tuppence ha'penny here and half a groat there.
Under the new rules, our best-selling Jessica Rabbit 2.0 Vibrator would sell for £24.46. Can you get excited about an extra 53p off when it's already £20 cheaper than a similar rabbit vibe in the high street?
And we'd have to pulp the 120,000 magazines we've just had printed because all the prices would be wrong. Not very green, is it Darling?
We're not the only ones who think so. Simon Wolfson, the chief executive of Next, wrote in a letter to The Times: "The change will be administratively expensive, do nothing to stimulate demand and leave few feeling any better off."
Too right, Simon.
So the bad news is we're not going to reduce our prices. BOOOOO!
But good news is we're going to do something better! HOORAY!
We're going to let one lucky customer Win The Vat Back!
Here's how it will work:
In December, we're going to put all the money that individual customers would have saved if we have reduced our prices in a big virtual pot.
Over the course of the month (our busiest of the year!), the pot will grow to be a rather tidy five-figure sum.
And in January, one lucky Lovehoney customer will win the whole lot!
Now that's what we call a stimulus, Darling!
To be in with a chance of winning, all you have to do is create a Lovehoney account and join the Lovehoney Loyalty Scheme.
Good luck. And Happy Christmas!
No purchase necessary. Employees of Lovehoney and Lovehoney's agents cannot enter. The winner will be drawn at random from all eligible Lovehoney loyalty scheme members. The winner will be notified by e-mail by 15 January 2009.