When a sale isn't really a sale
Posted
Aug 25 2008, 02:05 PM
by
Karen Datko
Rating:
If the "on sale" sign says you saved 50% on the new shirt you bought at the mall, did you really get a great deal?
Not necessarily, says Kevin at The Red Stapler Chronicles, in a post called "'Sale' can sometimes be just another 4-letter word." Kevin's day job is manager in the retail world.
He says every store is required to post a pricing policy and that they read something like this (we checked, and you can find them online as well):
REG./ORIG. PRICES REFLECT OFFERING PRICES IN EFFECT DURING THE 90 DAYS BEFORE OR AFTER AN EVENT, BUT NOT NECESSARILY DURING THE 30 DAYS PRIOR TO THE EVENT. SAVINGS MAY NOT BE BASED ON ACTUAL SALES. SOME ORIG. PRICES MAY NOT HAVE BEEN IN EFFECT DURING THE PRIOR 90 DAYS. INTERMEDIATE MARKDOWNS MAY HAVE BEEN TAKEN.
What does this mean? Lots. For instance, Kevin says, the "sale" price could actually be higher than it was the week before. He adds, "Only research from several retailers will yield the result of how much you really saved."
In other words, don't buy unless you've done your homework and you know you're getting a good deal -- and unless you actually need the item.
Helpful corollaries from Kevin (we recommend you read his post for a full explanation):
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Avoid the sale "feeding frenzy" mentality. Think about how much you're spending, not how much you think you're saving.
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Don't go cuckoo with coupons. You're not saving if a coupon entices you to spend when you wouldn't have. Kevin says, "If you think (a coupon) is to help you save money, you are nuts."
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Think before you buy a "sale" item in bulk. If you buy six cartons of ice cream because it's on sale, aren't you going to be eating more ice cream than you normally would?