Swift Profit

Readers who tried to buy Look and LIFE in many cities last week found that the magazines had sold out shortly after reaching newsstands. Chief reason: both magazines carried a two-page Swift & Co. ad containing twelve coupons, each of which was good for a 10-c- or 15-c- discount on Swift meat products ranging from dog food to frankfurters. Grocers, tipped off by Swift's six-page advance ads in trade magazines, bustled to buy LIFE and Look. They figured that they could turn a Swift profit, since the coupons alone in each 15-c- Look and 20-c- LIFE were worth $1.45, plus a 24-c- redemption bonus for storekeepers, plus a chance at winning a prize in Swift's $26,600 sales contest. Armed with spare coupons, grocers could thus claim refunds on purchases made by customers who did not take advantage of Swift's offer.

Both magazines had agreed to print no more copies than usual, and accept no bulk orders--to discourage greedy grocers and housewifely hoarders. Thus many longtime newsstand buyers had to go without their copies.

This week the February Ladies' Home Journal hits the newsstands with Swift's ad. Admen estimated that Swift, whose coupons will have reached a total of 15,075,137 subscribers and newsstand buyers, would not have to redeem more than 5%, the standard figure for such promotions. But last week's sales indicated that the company might have to pay considerably more than the million dollars it would normally allot for the event.

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