http://www.wsj.com/articles/the-tricky-math-of-black-friday-bargains-1448329361
It's almost Thanksgiving and you know what that means...shopping! The meaning of Thanksgiving has been replaced with an activity called Black Friday where stores lower their prices for a day in an attempt to bring in more sales. However, over the years the sale has started earlier and earlier. This year, stores are opening as early as 5 p.m. on Thanksgiving day!
What most customers don't realize is that the deal isn't always a deal at all. Retailers have gotten in the habit of using what is called a "stackable promotion" where they offer what appears to be more than one discount. For example, a $100 sweater that is marked 20% off and then an additional 25% appears to be 75% off, but that's not the case. The two discounts are added together and taken off the original price. Retailers have been using this technique more and more and the numbers have increased by 30% since 2013.
Some name brand stores have taken the "deals" to the next level. Michale Kors Holdings Ltd. and J.C. Penney Co. have been accused of selling items on discount with incorrect original prices which turns out there is no discount at all. Both companies paid millions to settle the claims and a Nordstrom spokeswoman said the lawsuits had no merit and that the company is committed to "pricing integrity."
So be careful out there folks, if Black Thursday, Friday, Saturday, Sunday and Cyber Monday are in your holiday plans, keep an eye on those prices and be sure you get a real deal! - Alexis Z.
What most customers don't realize is that the deal isn't always a deal at all. Retailers have gotten in the habit of using what is called a "stackable promotion" where they offer what appears to be more than one discount. For example, a $100 sweater that is marked 20% off and then an additional 25% appears to be 75% off, but that's not the case. The two discounts are added together and taken off the original price. Retailers have been using this technique more and more and the numbers have increased by 30% since 2013.
Some name brand stores have taken the "deals" to the next level. Michale Kors Holdings Ltd. and J.C. Penney Co. have been accused of selling items on discount with incorrect original prices which turns out there is no discount at all. Both companies paid millions to settle the claims and a Nordstrom spokeswoman said the lawsuits had no merit and that the company is committed to "pricing integrity."
So be careful out there folks, if Black Thursday, Friday, Saturday, Sunday and Cyber Monday are in your holiday plans, keep an eye on those prices and be sure you get a real deal! - Alexis Z.
Those darn tricksters!
ReplyDeleteThose darn tricksters!
ReplyDelete