Simon Malls Sell Komen Gift Cards
Simon Property Group has partnered with the Susan G. Komen Breast Cancer Foundation to issue the mall company’s first-ever cause-related gift card.
Shoppers who buy a Simon Pink Ribbon Giftcard trigger a $1 donation to Komen for each gift card purchased, up to $250,000 a year for two years.
The cards launched on Sept. 15, timed to Breast Cancer Awareness Month (October). Simon plans to sell the cards through August 2008 in its 195 malls and online.
Consumers pay a $3 handling fee for each card bought in a mall, and $6.95 for each card bought online. The prepaid Visa cards, issued by Sioux Falls, ND-based MetaBank, come in denominations ranging from $20 to $500 and can be used anywhere Visa is accepted, not just in Simon malls.
The cards are susceptible to a monthly administration fee of $2.50 if the balance hasn’t been spent after 13 months. Last month, a court ruling allowed Simon’s administration fees on gift cards to stand; a federal judge ruled in Simon’s favor in a lawsuit filed by New Hampshire’s attorney general to ban the fees. The judge ruled that Simon’s gift cards are governed by federal banking laws (PROMO P&I, Aug. 9, 2006).
Still, Simon is confident that the Pink Ribbon Giftcard will draw shoppers.
“We believe the public will embrace this new card for many reasons: The ever-expanding popularity of the Simon Giftcard product; the sales, marketing and distribution network that Simon malls provide for national exposure for the card, and most importantly, the work of the Komen Foundation is widely known and admired by our most prominent demographic, women age 18-54,” said Simon CMO Stewart Stockdale in a statement.
Simon has issued co-branded affinity gift cards since 2003, with three universities and three NBA teams (the Indiana Pacers, San Antonio Spurs and Dallas Mavericks). Separately, Simon’s Givingcard earmarks a portion of handling fees as donations to local and regional charities and to the Simon Youth Foundation.
