Highest Purchases And Rebate Recorded For Electronics On Friday
Submitted by Emma Ward
September 25, 2010
Illinois Retail Merchants Association described the phenomenon as unprecedented, when the consumers in Illinois reported to have made purchases of 27,000 energy efficient appliances in less than two and a half hours.
This came after the announcement of a new federal program that would provide $3 million to boost the market of the energy-efficient appliances. The stores had to open early as customers lined up for more than three hours in the rain waiting for the stores to open its doors.
Abt Electronics was one of the participants in the program. The store recorded higher sales in the first hour of this Friday than that recorded in a similar event in April.
More than 1,000 people lined up before Abt's branch in Glenview opened. The prices were $250 per appliance.
The Co-President of Abt Electronics, Jon Abt said, "I think the bulk of the money went in the first hour," he said, adding that Abt had expected the program to last until at least noon. "People were conditioned, and they wanted a good deal today".
The purchases led to $3.6 million in rebates, whereas $25 million generated in the sales. These data were provided by the Quinn's office.