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Jeweler Offers Refunds if the Bucks Win NBA Championship
Robert Haack Diamonds in Milwaukee will reimburse customers up to $5,000 if the city’s team can net the ultimate victory.
Customers who make a purchase at Robert Haack Diamonds in Milwaukee will be eligible for a refund if the Milwaukee Bucks win the NBA championship.
Milwaukee, Wisc.—Sales draw savvy shoppers into stores regularly, but Robert Haack Diamonds in Milwaukee is trying a different type of promotion this spring.
The store has pledged to reimburse customers for purchases up to $5,000 if the Milwaukee Bucks win the NBA Championship next month.
The store has seen an uptick in foot traffic since starting the promotion, President Bret Eulberg told National Jeweler in an interview Wednesday, especially among customers in search of engagement rings.
“[They think], might as well take a chance if it might be free,” he said.
Customers who buy jewelry and pay in full by May 25 are eligible for the promotion.
Under the terms of the promotion, sales tax and a $10 paperwork processing fee will not be refunded, though, as of press time, it looks like Robert Haack customers might not be getting anything back.
The Milwaukee Bucks lost to the Toronto Raptors 105 to 99 in game five of the NBA Finals Thursday night, the team’s third consecutive loss. The best-of-seven series is now 3 to 2 in favor of the Raptors.
“The Bucks could still have two chances to redeem themselves, although the odds are stacked completely against them,” Adam McGee wrote in his game analysis for fan site Behind the Buck Pass.
If the Bucks defeat the Raptors, the team will move onto a more formidable challenge—they will face the Golden State Warriors in the NBA Championship.
“We are super-confident the Bucks are going to win,” said Eulberg, though he conceded the Golden State Warriors, the team that has taken the NBA title the last two years, will be a tough team to beat.
He did note the NBA Championship would take place at the Fiserv Forum arena in Milwaukee, giving the Bucks homefield advantage.
The store held a similar promotion last October, offering to refunds up to $3,000 if the Milwaukee Brewers won the World Series. The team got knocked out of the playoffs by the Los Angeles Dodgers.
If the Bucks can clinch a victory, the store won’t have to empty the registers to refund customers.
Insurance companies offer prize indemnity insurance, meaning stores can pay a premium to an insurance company to cover these prizes. The premium is decided based on the prize value and the odds of winning.
So far, the sales have outweighed what the store spent on insurance, Eulberg said.
Robert Haack Diamonds has offered a slew of other sports-related promotions, including a free
Aaron Rodgers (Green Bay Packers quarterback) jersey with a $250 purchase and bobbleheads depicting the Lakeshore Chinooks, a local collegiate summer baseball league.
Sports-related events have been held to draw fans into the store, including meet-and-greets with stars such as Geronimo Allison, wide receiver for the Green Bay Packers, and pictures with Roscoe Cupid, the team mascot for the Milwaukee Admirals.
Sports-related events have been held to draw fans into the store, including meet-and-greets with stars such as Geronimo Allison, wide receiver for the Green Bay Packers, and pictures with Roscoe Cupid, the team mascot for the Milwaukee Admirals.
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