Retailers Singing The Blues About Slashed Prices, But Check The Price Tags Carefully.

Property Manager with Investors Choice Property Management CAL BRE LIC# 01124954

It seems like every time I turn on the news, there is a piece about the economy and how it has impacted retailers. "Many retailers slashing prices by 40-70%" was a headline I read last week. I wonder just how true that statement is?

Mervyns went out of business recently, and had a major sale in their stores advertising 60-80% off. I was particularly interested in seeing if these drastic markdowns applied to their jewelry. I was disappointed (but not surprised) to see that the store management had applied hand-written price tags to their merchandise. A gold bracelet that would normally sell for $300 was listed as "original price $2399, sale price $399". It was a cheap sales trick designed to rope in unsuspecting customers with false promises of big savings.

I wonder how many other retailers are resorting to similar trickery to bolster their failing revenues? Fortunately, consumers appear to be a bit more cautious given the current economy.

The point is this- do not base your purchase on the price tag. Ask yourself if the advertised price seems reasonable, and do not give in to false pressure (I have to buy it now because the sale ends tomorrow).

Good luck and happy hunting this new year.

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