Discount retailer T.J. Maxx certainly created a lot of buzz this past weekend by offering Apple's iPad for $399—yes, that's right $100 off the tablet computer's usual price.
TJX Cos.' T.J. Maxx, which is most known for selling designer fashion brands at discount prices, never advertised the limited quanities of iPadsthat were stashed at stores around the country. But the stunt underscores a few things about shopping this holiday season.
First, one of things that's fun about shopping at T.J. Maxx and its sister store Marshalls is that you never really know what you'll find. What better way to drive home that message about the brand than to spark a nationwide scavenger hunt for cheap iPads.
In this way, T.J. Maxx is being very true to their brand and this can help them build loyalty with their core customers.
In fact, that was pretty much the message that was sent by a spokeswoman in an email regarding the event.
"As an off-price retailer, our business provides an ever-changing selection of great finds of famous maker apparel and non-apparel categories at excellent values. In other words, our mission is to offer a treasure hunt of great values, every day," said TJX spokewoman Sherry Lang, in a statement.
While Lang declined to say whether the company would do another iPad promotion this holiday season, or to provide details about how many iPads there were and where they were sold, she said that the quantities were "very limited" and the iPads "were sourced from a retailer."
But Piper Jaffray research analyst Andrew Murphy said that there were about 80 iPads that were sold by the retailer. Further, he said since TJX is not an authorized Apple reseller, the company must have bought the tablets at retail and sold them at a loss.
Certainly, the news they've created is worth the money they spent.