Shop owners must display prices

All shops are obliged by law to have a price tag on all items for sale that are on display. It should never be necessary for a consumer to have to ask how much an item on display costs. When vulnerable consumers are subjected to the “hard sell” treatment after asking for information on a specific item, they are persuaded to buy something they do not really want or need. Unfortunately, there are shop owners who don’t like displaying prices. In such situations the best option is not to buy anything from such outlets.

What we have here is the old ‘playing one’s cards close to one’s chest’ to avoid competing outlets undercutting them. In no uncertain terms, such situations deny us one of the advantages of a free marketplace. advertising, particularly informative advertising, is an important source of information for consumers. However, advertising also its ugly side. One of the major criticisms of the advertising industry, from the consumer’s point of view, is that some advertisements are designed to appeal not to our reason but rather to our emotions and psychological needs, our guilt or fears or our need to be accepted socially.

Obviously, sellers want us to spend money, and they are not particularly concerned whether we spend it rationally or foolishly. Moreover, these general concerns of consumers are part of a number of specific problems relating to advertising.

Impulse buying

Buying impulsively is walking into a store, seeing something you like and buying it without taking time to make a cost/benefit analysis, value clarification, or any of the steps in the rational decision-making process just described. Merchants exploit impulse buying by displaying whimsical and relatively inexpensive items at the checkout counter. Obviously, impulse buying cannot explain all our buying habits, because we have certain needs that must be met if we are to survive – the most obvious being minimum amounts of food and shelter, which purchases must be planned for. Many others, however, can be purchased solely on the basis of spur-of-the-moment decisions.

Sometimes, impulse buying can be a wise choice – when the purchase is truly a bargain and will help to increase income. Nonetheless, there is a limit. Most consumer economists argue against impulse buying because it can undermine a budget and may lead to financial difficulties.

The best way to control impulse buying is to ask yourself: “Why am I buying this? Do I need it? Will I use it? Can I afford it? Will it keep me from buying something I may want later?” Remember, for every purchase you make, you forgo something else.

Parents – remember safety

I appeal to the parents of young children to remember safety when dealing with sophisticated toys. Make sure that you read the instructions of such toys carefully and, more importantly, explain them to your children.

It is important to make sure your children know how to use these toys. After you explain to them, you must supervise them playing. Once you see that they have understood, let them play.