Macy's giving away cash cards to shoppers

With less than a week until Christmas, Macy's (NYSE:M) is giving away $10 gift cards to shoppers who visit stores between Dec. 20-22, effectively subsidizing holiday purchases.

Macy's will offer a special giveaway of cash cards valued at $10 at more than 600 stores on these three days only. The cards will be distributed to the first 250 shoppers, on a first-come, first-served basis, beginning at store opening.

"As the ultimate destination for affordable gifts for everyone, we're pleased to offer an extra holiday treat to our customers as they finish out their shopping over the next week," said Martine Reardon, Macy's chief marketing officer. "We have a lot of great deals on last-minute gifts, and now shoppers who come early will get even more value with a free cash card on us."

Issuing gift cards or vouchers isn't new for retailers which often try to entice shoppers back into stores after the holiday, but Macy's cards are redeemable in stores on the same day. There is a limit of one card per customer and the card can only be used in stores, not online.

While Macy's leads department store brands in terms of social media conversations and as a top pick among last minute shoppers, department stores are among the most pressured retailers in the mass market and luxury categories.

For more:
-See this Macy's announcement

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