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Saturday, August 20, 2011

How to Dupe people so Less seems More

Came across this article via AP last night about how the cost of clothing is going up and the deviant tricks which are being played by retailers to hide this truth.  Here are some snippets, though if you want to read the full article on Yahoo!, click the link below:

http://finance.yahoo.com/news/Higher-prices-the-big-trend-apf-2391795776.html?x=0&sec=topStories&pos=6&asset=&ccode=

Higher prices: the big trend for back-to-school:

 "Stores are trying everything they can think of to disguise the fact that you're going to pay more for clothes this fall. Some are using less fabric and calling it the new look. Others are adding cheap stitching and trumpeting it as a redesign. And the buttons on that blouse? Chances are you're not going to think it's worth paying several dollars more for the shirt just to have them."

"Retailers are raising prices on merchandise an average of 10 percent across-the-board this fall in an effort to offset their rising costs for materials and labor. But merchants are worried that cash-strapped customers who are weighed down by economic woes will balk at price hikes. So, retailers are trying to raise prices without tipping off unsuspecting customers."

"Retailers have long tried to mask price hikes -- for instance, jacking them up more than needed so that they can offer a "sale" on the higher price.. Some merchants are making inexpensive tweaks ---- additional stitching, fake button holes, fancy tags ---- to justify price increases. Those embellishments can add pennies to $1 to the cost of a garment, but retailers can charge $10 more for them"

The rest of the article you can read via the link above..

If this is any indication, it looks like this will be a rough Holiday season for consumers unless they're willing to just close their eyes to the prices and charge away...


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