Yesterday, we presented our 2018 holiday shopping tips. Why? To help you be better shoppers. And to do so, we must help you know if a sale is really a sale. Sadly, many firms seek to deceive us about the true price of items. In response, shoppers must be prepared.
Basic Deceptive Pricing Rules
To be informed is to be a smart shopper.
The Federal Trade Commission (FTC) oversees several rules with regard to deceptive pricing. Read about them by clicking the chart below. And understand your rights.
Know If a Sale Is Really a Sale
Over the years, deceptive pricing has been the subject of a lot of research. Today, we look at a study by Checkbook Magazine.
“Stores are always advertising sales. But are they really offering you a great deal? As it turns out, a nearly year-long test has found potentially disturbing pricing policies at more than a dozen national retailers. Checkbook Magazine found that, too often, sale prices aren’t offering you special savings at all. Instead, they’re creating a bogus sense of urgency to buy. Over the course of 10 months, Checkbook Magazine’s undercover shoppers tracked prices of select items available for at least five weeks at 19 major retailers. They found in most cases, the advertised sale price was actually the routine price: the one the store charges more than half the time.”
“The retailers named as the worst offenders they tell us they stand by their sale policies. With many saying their sales comply with applicable pricing and advertising laws. They believe the test failed to consider things like everyday low pricing, price-match guarantees, and member pricing.”
The video below recaps some of the findings. So, be smart. Very smart!!