Who’s going to win the big game?
No, not that game.
I’m talking about the game businesses play with us. Mark up, mark down. Bait and switch. And, of course, the loyalty game.
If you’re not thinking about that game, you are going to lose — and that could cost you.
It’s not your imagination. Businesses are marking up merchandise only to put them on sale. Here’s a troubling report on Kohl’s playing this game from a Sacramento, Calif., CBS affiliate.
It found items marked up as much as $100 from earlier prices and then put on sale. The practice is a violation of California State law, which bans companies from making “false or misleading” statements about the amounts of price reductions.
Here fishy, fishy, fishy
How about bait and switch? That little game comes up every now and then on my consumer advocacy site. In real life, you’ve probably run into it a time or two as well.
Most recently, it was the topic of my Washington Post investigation into disappearing airfares. You know the drill. Airlines display an initial low price then switch it out later with a higher fare, forcing you to go without a ticket or pay more.
Free frequent flier miles (just sign up here)
Perhaps the worst game of them all is the loyalty game. Airlines are the worst. Collecting miles, as I’ve noted in the past, is one of the great American pastimes. An estimated 630 million members are enrolled in various airline loyalty programs worldwide, with more than 300 million members in the United States.
Many of the miles never are redeemed. Research by Switchfly, a travel commerce and loyalty platform, suggests that travelers haven’t used 70 percent of their miles — or about a trillion points — over the last five years.
Loyalty programs are unfair and deceptive and they should be closely regulated, if not banned.
Playing the game to win
The game that matters is not the Superbowl, an Olympic event or the NBA championships. It is who wins in business. Will you outsmart the company? Or will it get your money with its dishonest markups, shell games and bogus “points”?
But if this is you just stumbled upon this post and don’t know what I’m talking about, I have good news for you. You can play the game to win. Let me show you how. Scroll up to the next paragraph and join this community of enlightened consumers.
You’ll be glad you did.