The idea for the promotion originally came from a trader. The cash component means that it is quite expensive to run and traders were asked to contribute $20 each for the period of the promotion. The promotion created a real buzz around the market and its combination of cash prizes and entertainment from Harry the roving musician proved very successful.
Afterwards we found that many traders had not agreed to contribute the $20. There were a variety of reasons given and no doubt some concern over whether it would work, or not, was a significant factor. Fortunately management decided to pick up the tab and the promotion was run to its final conclusion. Traders suggested some changes to the format including 2 draws per day, prizes consisting only of market vouchers (no cash), and a modified form of entry-ticket distribution allowing traders to give tickets direct to their customers.
Fast forward to today, and we now know the promotion was a success and the changes suggested by traders have been incorporated into the new format. But the economics haven’t changed, and the contribution by all traders is an essential element of getting the promotion off the ground. Put simply – if traders do not agree to make a contribution, the event will not happen. This time around it is $20 for 12 or so trading days of the promotion which does sound like pretty good value. We understand that some leaflets, including acceptance forms, have been distributed and more will be distributed over the weekend.
20/04/2015 09:45:49 Trader Giveaway "Great article thanks Greg. Promotions like the Traders Giveaway take time to fine tune and to build into something meaningful. We are very supportive of the idea and want to build on it long into the future. If we can garner the (financial) support of more traders then we can gain some real momentum, increase our spend on promoting the concept and keep building on it into the future. " Mark Smith