Chicago Business Litigation Lawyer Blog
Everyone loves a good deal and retailers know that. It is extremely popular to see online retailers include a price for an item that is higher than the price they’re selling it for. Names for the higher price range from “suggested retail price” to “list price” to the more vague “estimated value”. By listing a higher price next to their own price, the retailers give the impression that they’re giving their customers a deal, but how do customers really know they’re getting a deal?
Many customers simply take the retailer’s word for it while others take the age-old advice for customers to do their research, shop around, and compare prices. Recent comparisons of “discounted” items on sites like Amazon and Overstock.com failed to find any retailer that sold the item for the list price. Comparisons also found that the “list price” varied from site to site, even when the actual price it was sold for was the same at each retailer.
Because giving customers the impression they’re getting a deal can make them more likely to click that “Buy” button, many customers feel deceived when they find out they paid the same price as everyone else at other retailers. This sense of betrayal has resulted in several consumer class action lawsuits with allegations of false advertising. Continue reading ›