Why discounts are better than buy one, get one deals

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Shop smart. Before you get too excited about the giant signage indicating "SALE," are you sure the prices were really marked down?


Clearance sales are right around the corner.

And you feel like those giant coaxing "buy one, get one" signs are following you at every store you just happen to pass by.

Now before you get a shopping spree fever, watch this four-minute video produced by Vox, which got some insights from Mark A. Cohen—director of retail studies in Columbia University.

With his over 20 years of experience as president/chairman/chief executive officer of companies, Mark affirmed that the "'buy one, get one free' is a thinly-veiled attempt to convince the customers to buy more than one item at a time."

You may think that the deal is a total win, but do not let yourself be fooled, because more often than not, you may actually be spending more than you realize rather than scoring a good bargain.

If you are not really planning to buy two items, then your wallet would actually be better off going for that one item with twenty percent off instead.

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Cohen also warned, "The cheating that goes on is rampant. Retailers are guilty of distorting the regular prices, raising the regular prices."

So next time you buy something that has either a "buy one, take one" or "fifty percent off" tag, check the other store's pricing.

But it is best, of course, to mark an item, monitor its pricing, and wait for it to go down.

Check out the video below to find out more.

This story originally appeared on Preview.ph.

*Minor edits have been made by the PEP.ph editors.


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