Pricing for success

The OFT is warning retailing businesses, politely, to review their pricing policies in order to avoid enforcement action. Recent research by the OFT found that certain pricing methods can mislead consumers thereby breaking the Consumer Protection from Unfair Trading Regulations 2008 (CPRs). The big

The OFT is warning retailing businesses, politely, to review their pricing policies in order to avoid enforcement action.

Recent research by the OFT found that certain pricing methods can mislead consumers thereby breaking the Consumer Protection from Unfair Trading Regulations 2008 (CPRs).

The biggest areas to cause concern include 'drip pricing' where a base price is advertised only for other charges to be lumped on top, 'bait and switch' tactics where a retailer advertises a low priced product of which there is minimal stock, and 'time limited offers'

Retailers are reminded that the CPRs automatically ban unfair commercial practices. You have been warned...

This was first published in January 2011

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