Why a $5-million baby can save you up to $6,000 a year
Steinsmart is promising to offer a $1,000 discount on baby wipes for mothers buying a first-time or two-pack, with coupons for $5,000.
The retailer will also offer a rebate of up to 80 per cent off diapers for babies in its first two weeks of life.
“It is an important time in your baby’s life,” said spokeswoman Lauren Wessel.
“A $1-million savings in your pocket is a big deal.”
Wessel said the initiative would be rolled out across the country and would include a “baby-focused” section of the website, where parents could shop for baby supplies and offer tips for keeping their babies healthy and happy.
The $1 million in savings would come from the sale of BabyWipes, a $20-million business that sells infant wipes, diaper liners, baby wipes and other baby care products at the retailer.
BabyWipe is selling at least 1.2 million baby wipes per year, according to the company.
Wessel would not say how many BabyWipers would be affected by the new offer.
A spokesman for SteinsMart, which also offers baby supplies at other retailers, said that while the retailer has seen a decline in sales of its products in the last year, its baby wipes business has been a strong performer.
Baby wipes are designed to keep babies’ skin soft, supple and baby-like.
The brand is one of the top-selling baby products on Amazon, with more than one million items sold on the site.
The company’s new offer comes after the retailer introduced a $50-million dividend in July, with an additional $50 million promised over the next three years.
In an interview with CBC News last week, Wessel also said she would not rule out the possibility of offering baby-related savings offers to other retailers.
The mother of two, who has two children, said she and her husband had already started shopping for a baby-focused section of her website, which is now up and running.
“We are going to keep doing this, so that when we are ready to sell, we can,” Wessel told CBC News.
“I’m just not sure if that’s a long-term thing or a short-term deal.”
Sources: Globe and Mail, babywipes.com,steinsmart,baby,babywipes