NEW YORK, Nov. 15, 2017 /PRNewswire/ -- Think it pays off to go shopping on Black Friday? Think again. According to a survey conducted by education portal BlitzResults, 81 % of all consumers state that they have been tricked by dealers in the past. An analysis of over 100 products found that 52 % of all offers made around Black Friday were actually significantly cheaper at some other time during the year.
"Lure offers," allegedly "sold out" items, mind-boggling discounts and fine print are the typical tricks to attract customers during their Black Friday shopping mania. An online survey by BlitzResults of 4813 consumers examined which tricks the dealers regularly use to rip off customers. The study also reveals that the majority of customers have been victims of unfair sales practices in the past. "Lure offers" are the most dominant form of rip-offs, followed by exaggerated discounts.
High double-digit discounts sound like music in our ears. But customers beware: the discounts advertised are often based on the manufacturers' suggested retail price (MSRP) or are even fantasy sums. "These sales prices are actually never paid and this applies in particular to the electronics sector," says Tim Lilling, researcher at BlitzResults.com. "The use of these prices as a reference point is misleading for customers and is used to imply extreme discounts. The research shows that discounts are in reality almost 50 % less when compared to a non-reduced offer from another retailer."
Interestingly enough in many cases the cheapest offer was available during the summer holiday season. This is likely because most customers acquire their tech gadgets before they go on their summer vacation. The opposite is true during the months before Christmas (and hence around Black Friday). Prices rise because retailers know that customers are under pressure to buy.
Shipping costs, handling fees, minimum order values or incomprehensibly formulated discount structures often shrink the originally promised high double-digit savings into a meager remainder. Unsure whether an offer is top or flop? Use the following discount calculators https://www.blitzresults.com/en/discount/ to make smart buying decisions.
The results of the study in detail:
- BlitzResults tracked prices of more than 100 tech gadgets such as tablets, cameras, and large household appliances over the period of one year on major online-shops in the US. While consumers have the impression that prices are slashed to a historic low level for Black Friday, only 48 % of these products are actually cheaper than at some other time during the year (54 products).
- 81 % percent of all customers state that they already been victim of a "lure offer," ending up buying more expensive items than planned.
- 67 % of all customers say they ended up buying more things then they had initially planned to buy.
- 64 % of all customers say that they bought a different item because the product they were looking for was already sold out.
BlitzResults is an open source educational platform with focus on science, consumer affairs and technology. A wide variety of tools, converters and checklists help users to calculate optimal results. All tools were created in collaboration with educational institutions and every info-graphic is licensed under creative commons and may be used free of charge in educational context.
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