Economic Stimulus Checks to Hit April 28, Retailers Offer Specials to Entice Consumers

April 25, 2008

Source: The Merchandise Group


Today, the Treasury Department announced an updated check deposit plan for the country's economic stimulus checks. Originally, checks were to be deposited on May 2, 2008, but the schedule has since been updated and checks will now go out this coming Monday, April 28, 2008. If the Internal Revenue Service (IRS) has an individual's direct deposit information on file, the stimulus check will be deposited into their account, and if not, it will be mailed out.

The order in which checks will be distributed is according to the last two digits of an individual's social security number. Below is a listing of when checks will be sent out, with the new April 28, 2008 date in place.
Direct Deposit

SSN     Date
00-20   April 28
21-75   May 5
76-99   May 12

Paper Check
00-09   May 9
10-18   May 16
19-25   May 23
26-38   May 30
39-51   June 6
52-63   June 13
64-75   June 20
76-87   June 27
88-99   July 4

Retailers and the government are hoping that consumers will take their stimulus checks shopping. To lure them into doing so, several major retailers have implemented rewards for customers who do choose to bring in their stimulus checks.

Hoffman Estates, Ill.-based Sears Holdings Corp. announced a campaign that will allow shoppers to exchange stimulus checks for store gift cards, worth the total purchase amount, plus an additional 10 percent. The cards will not expire and can be used at any Sears and Kmart store, as well as online at sears.com and landsend.com

San Jose, Calif.-based Fry's Electronics Inc. is offering customers a bonus exchange for their stimulus checks for gift cards May 2, 2008 to July 31, 2008. For checks of $300, shoppers will receive a gift card worth $330, those with a check for $600 will receive a card worth $660 and for a $1,200 check, customers will receive cards valued at $1,320. In addition, the cards will have no expiration date.

Minneapolis-based Supervalu Inc. will also allow customers to redeem economic stimulus checks for gift cards in $300 increments, with the store adding $30 to each card. The offer is available May 2, 2008 to July 31, 2008, and will be available at the following Supervalu stores: Acme, Albertsons, bigg’s, Cub Foods, Farm Fresh, Hornbacher’s, Jewel-Osco, Lucky, Shaw’s/Star Market, Shop ‘n Save and Shoppers Food & Pharmacy.

While retailers are going after major portions of consumers economic stimulus checks, small businesses may also want to consider offering "stimulus specials" to entice customers to shop at their stores. An opportunity to offer specials on amounts under $300 may be more attractive to consumers who are not interested in spending their entire check in one location.

Economic Stimulus Checks to Hit April 28, Retailers Offer Specials to Entice Consumers

April 25, 2008


Source: The Merchandise Group

Today, the Treasury Department announced an updated check deposit plan for the country's economic stimulus checks. Originally, checks were to be deposited on May 2, 2008, but the schedule has since been updated and checks will now go out this coming Monday, April 28, 2008. If the Internal Revenue Service (IRS) has an individual's direct deposit information on file, the stimulus check will be deposited into their account, and if not, it will be mailed out.

The order in which checks will be distributed is according to the last two digits of an individual's social security number. Below is a listing of when checks will be sent out, with the new April 28, 2008 date in place.
Direct Deposit

SSN     Date
00-20   April 28
21-75   May 5
76-99   May 12

Paper Check
00-09   May 9
10-18   May 16
19-25   May 23
26-38   May 30
39-51   June 6
52-63   June 13
64-75   June 20
76-87   June 27
88-99   July 4

Retailers and the government are hoping that consumers will take their stimulus checks shopping. To lure them into doing so, several major retailers have implemented rewards for customers who do choose to bring in their stimulus checks.

Hoffman Estates, Ill.-based Sears Holdings Corp. announced a campaign that will allow shoppers to exchange stimulus checks for store gift cards, worth the total purchase amount, plus an additional 10 percent. The cards will not expire and can be used at any Sears and Kmart store, as well as online at sears.com and landsend.com

San Jose, Calif.-based Fry's Electronics Inc. is offering customers a bonus exchange for their stimulus checks for gift cards May 2, 2008 to July 31, 2008. For checks of $300, shoppers will receive a gift card worth $330, those with a check for $600 will receive a card worth $660 and for a $1,200 check, customers will receive cards valued at $1,320. In addition, the cards will have no expiration date.

Minneapolis-based Supervalu Inc. will also allow customers to redeem economic stimulus checks for gift cards in $300 increments, with the store adding $30 to each card. The offer is available May 2, 2008 to July 31, 2008, and will be available at the following Supervalu stores: Acme, Albertsons, bigg’s, Cub Foods, Farm Fresh, Hornbacher’s, Jewel-Osco, Lucky, Shaw’s/Star Market, Shop ‘n Save and Shoppers Food & Pharmacy.

While retailers are going after major portions of consumers economic stimulus checks, small businesses may also want to consider offering "stimulus specials" to entice customers to shop at their stores. An opportunity to offer specials on amounts under $300 may be more attractive to consumers who are not interested in spending their entire check in one location.