Spain's World Cup win sees hundreds lose out over the small print
It was an offer too good to miss – buy a new laptop, a television or satnav for your car and if your country wins the World Cup, we'll refund the full amount. In Brazil, Mexico and virtually every European country involved in the football competition fans were invited to put their money where their mouth was and bet on their country to win by investing in a new consumer durable. A great marketing ploy and very good business in the countries that didn't win. In Spain, however, a number of businesses ranging from banks to hotel chains are now having to make good on their promises, while at least two have fallen foul of its consumers' association for what were claimed to be misleading offers. The association said it had received hundreds of complaints about the World Cup promotions launched by Toshiba and the satnav manufacturer TomTom. The consumer champion says that neither made clear that, in order to be eligible for the money-back deal, purchasers had to register on the firm's website and, in the case of TomTom, also had to answer three simple questions. The association says the words " … and register on our webpage before 17 June", should have been inserted into the text of a Toshiba offer which ran: "If Spain win, You win. Buy a new Toshiba laptop with an Intel Core i5 processor or a Toshiba television and if Spain win the final we'll refund all of your money." Similar wording, the association claims, should have been added to the TomTom promotion. The TomTom television adverts said nothing about registering, but Nuno Gomes, vice-president of the firm for Spain and Portugal, said the instructions about registering came with the satnav. He said the company had no intention of reimbursing purchasers who had failed to follow these instructions, but that "many thousands" of people would get their money back, "the more, the better, as far as I'm concerned". The Spanish campaign had attracted more support than any other in Europe, he said. TomTom has 60% market share in satnavs, of which one million are sold in Spain every year. Pablo Romero, Toshiba's marketing director in Spain, said his firm issued guidelines to retailers to explain the conditions of the promotion to the public, although some customers have complained that they received no such advice. Romero added that customers also received a copy of the terms with their purchase, and that "a very large number" who had registered would be reimbursed. Both companies are adamant that they have done nothing wrong but, as the World Cup euphoria fades, many Spaniards are discovering anew that what the large print giveth, the small print taketh away.
Market Reactions
Price reaction data not yet calculated.
Available after full seed + reaction pipeline runs.
Similar Historical Events
No strong historical parallels found (score < 0.65).