So, the OLG finally scrapped the Super 7 lottery. This is a great example of where staying in school really pays off.
They must have done the stats and taken a look at peak spending combined with average spend rates during those times. Brilliant really. A fantastic example of a smart marketing department.
Still reeling from the effects of the lottery retailer scandal and the general state of the economy, they knew they had to do something fast. So, instead of panicking cooler heads obviously prevailed.
This was a textbook by-the-numbers approach to strategy implementation and testing. First, they tried out selling at a $20 price point and then settled on the $5 mark.
Now, they are pushing with cross-promotion and a glitzy ad campaign.
According to the OLG website:
1. Shoppers Optimum ® /LOTTO MAX Contest
From September 19 to October 16, 2009, every time you purchase a LOTTO MAX ticket and present your Shoppers Optimum Card ® you will be automatically entered to win 10 Million Shoppers Optimum points ®.
Click here to visit
www.shoppersdrugmart.ca/lottomax and get full contest details.
2. Shoppers Optimum ® /LOTTO MAX Contest
From September 19 to October 16, 2009, every time you purchase a LOTTO MAX ticket and present your Shoppers Optimum Card ® you will be automatically entered to win 10 Million Shoppers Optimum points ®.
Click here to visit www.shoppersdrugmart.ca/lottomax and get full contest details.
3. Win $250 in groceries at metro.ca!
From September 19 to November 6, 2009, customers will have 7 chances to win $250 in groceries when they visit the LOTTO MAX page and enter on-line at metro.ca.
Each week, for seven weeks, one $250 Metro Gift Card is available to be won!
Visit metro.ca for full contest details.
Odds of winning any prize are 1 in 6.6, so not all that bad. Odds of winning the big one though are closer to 1 in 28,633,528, with draws being held each Friday. Still, considering the formula used to arrive at this latest offering for those desperate to get rich for next to nothing, LOTTO MAX is sure to become part of the weekly purchasing routine.
Spending $5 per week equates to about a $250 expenditure per year. Many people buy in threes, so this balloons up to $750 per year. Then, considering that even in today's economy you can still make 3% interest in a tax-free savings account, see the ING Direct Canada current rates as an example. This means that by investing $15 a week in your own TFSA, you'd be up by over $800 at the end of the year.
Sure, you'd be passing up on the chance to come in to some serious cash but, you are more likely to get hit by lightning. Don't think it doesn't happen. Lotteries should not be considered for their income supplement potential. Once in a while, for fun, is great, and if you win, then even better. But, the rest of the time think of all that extra cash at Christmas time. It's enough to make anybody a bit more jolly.
