|August 13, 2010|
|WSJ Goes Downmarket with Cents-Off Coupons|
|By Kevin McCauley|
|How bad are things on Wall Street? Things are so bad that The Wall Street Journal will be distributing cents-off coupons for the first time tomorrow in its weekend edition. |
That's right. An insert from "SmartSource Magazine" will be inside the WSJ so the cash-strapped gang at Goldman Sachs can now scoop up 50 cents-to-$1-off coupons on classics such as Kraft Macaroni & Cheese and Smucker's jams.
It seems like only yesterday (September 2008) that Rupert Murdoch’s flagship paper was celebrating the launch of WSJ., the magazine aimed at the super-luxury crowd. The debut issue feasted on advertising from the likes of Christian Dior, Armani, Audemars Piguet, Louis Vuitton, Dolce Gabbana and Hermes.
Faithful readers were enthralled by gems such as the “Women of Gucci.” That profiled powerhouse females at the top of the fashion house including Mimma Viglezio, executive VP-global communications and veteran of Bulgari and Louis Vuitton, who said women are not yet equal in her field. Her challenge: I’m a gypsy and a free spirit and sometimes I have to learn to shut up.”
Will WSJ. readers soon read stories such as the "Women of Kellogg's"?
At its inception, WSJ received raves. Samir Husni, "Mr. Magazine," crowed that the mag is "the new standard in luxury magazines, even after only one issue.
Then-WSJ editor-in-chief Tina Gaudoin gushed that the mag was less about how to spend it and more about "how to live it."
Joining the coupon fray, the Wall Street Journal has now gone full circle from "Let Them Eat Cake" to "Let Them Eat Mac & Cheese."
One wonders how many coupons a WSJ. reader can stuff into her Louis Vuitton handbag. On the other hand, she may prefer getting a $500-off coupon in the WSJ for her next Louis V purchase.
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