Large retail stores now have a class action lawsuit filed against them
Today’s post is by Shelly Hayre; Account Manager at SafeSourcing.
As I was watching the news this morning, they were discussing large retail stores being deceitful with their sales. The stores will mark up the retail price and market the product on sale at the suggested retail price. So in reality it is not really on sale. This shocked me, not because of what the retail stores are doing, but that so many people were shocked by this strategy.
The large retail stores now have a class action lawsuit filed against them. I see this as a marketing strategy and do not see an issue with this strategy. It targets impulse buyers, who are not familiar with the market value for particular items.
I can name about five large retail stores that use this marketing strategy. Sometimes research will help you overcome this “scam”, as some call it, but how do you research the price of a shirt? This is when experienced shopping and knowing when it truly is a good deal and on sale comes into play.
When your company begins a new service or product, how do you know it is a good deal? I have worked for many companies in the past who feel they are getting a good deal from XYZ Company because they get a “15% business discount”, but there was never research completed on the individual products being ordered. This “on sale” marketing strategy is being used in the corporate world too, but with different language. So, is your company really getting a good discount or are the products being discounted marked at a higher price?
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