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How To Know If You're Really Getting a Good Deal

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How Can You Tell If You’re Actually Getting a Good Deal?
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Sales have ballooned into entire consumer shopping holidays: Amazon Prime DayBlack FridayCyber Monday. But are these “holidays” really the best time to shop, and is there a foolproof way for customers to know that they’re actually getting a good deal?

The answers to those questions aren’t necessarily certain. More often than not, they depend on the personal preferences and perceptions of shoppers as well as any research they’ve done before whipping out their credit cards. What’s a good deal to one person won’t be to another, and that divide is something retailers are counting on, according to Barbara Kahn, a professor of marketing at the University of Pennsylvania’s Wharton School.

Racked spoke with Kahn about the best time of year to shop and how shoppers can be savvier about the purchases they make. Kahn is an expert on brand loyalty, consumer choice, and customer-relationship management. She wrote the book Global Brand Power: Leveraging Branding for Long-Term Growth and co-wrote The Grocery Revolution: The New Focus on the Consumer.

What makes a deal worthwhile? How can customers be sure they’re getting a good deal?

The more educated you are about regular prices, the better you can assess whether or not the promotional price is a good price. Now a lot of times at the supermarket, they might put an item at the end of the aisle, and you’re assuming that it’s a good price, but it may not be.

You don’t know for sure if it’s good price unless you actually do the research to find out if it may not necessarily be the cheapest price. A lot of times, people assume the price per unit is good when you buy an item in bulk, but, again, you have to make the comparison.

Is there a particular percentage or dollar amount that marks a good deal?

There’s been some psychological research where they show if the deal is not bigger than a certain amount, it’s too small for people to perceive it as a good deal. The rule of thumb is that there should be at least a 20 percent discount. That’s the number people think is a really good deal. It’s perception. It’s a function of what hits your radar. It really depends on the overall price. It also matters if it’s presented as a percentage rather than as an absolute (for example, $30 off). All of these things affect fairness of price and can affect what people think is a good deal.

What’s the best time of the year for deals? Are “holidays” like Black Friday/Cyber Monday and Prime Day actually the best?

Prime Day has become a day that’s good for deals, along with Black Friday. There’s also January, when there’s white sales and the end-of-season sales.

Read the rest of the story here>>
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We’re Suddenly Mad About Croc Heels, but They’ve Been Around for a Decade
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Every so often, the internet blows off steam by setting aside debates over politics and the correct pronunciation of “GIF” and turning its attention to this unsolvable puzzle: Are Crocs unfashionable and fantastic, or unfashionable and terrible? People love to talk trash about Crocs’ bulbous ventilated clogs, as they do with ugly shoes in general. They’re an easy target. They can’t fight back.

A few days ago, the internet melted down over the existence of clunky high-heeled Crocs the color of freshly poured cement, currently available on Amazon for $224. “Really a sign the end of the world is coming,” tweeted one critic. “#NotForPublicUse.”

Though outlets like Fast Company and the Independent were quick to cover this “new” addition to the Croc canon, heeled Crocs have been around for more than a decade. On the back of the inexplicable early-aughts popularity of Sigerson Morrison’s kitten-heeled flip-flops, Crocs debuted the “Sassari,” its first heeled shoe, in spring 2007.

“With a sleek, retro-inspired design, the Sassari (MSRP: $39.99) is a stylish slide with a prominent wedge heel and a foot bed made of the Croslite™ material,” read a press release issued in late 2006. “The shoe is styled to make a colorful, comfortable statement.”

You can’t buy the Sassari on the Crocs website anymore, but you can find it on eBay. I’d recommend the green-and-white version, which looks something like a slice of Key lime pie.

Flash-forward to December 2007! Crocs introduces the “fashionable new Cyprus model,” which hit stores the following spring. It had a 4-inch heel but, according to the company, remained comfortable and lightweight, making it “a perfect shoe for any spring or summer outing.”

“Very spongy! Happy with my purchase,” writes one shopper. “They are beautiful and comfortable, but they squeak. Noticeably noisy squeak,” writes another, who nonetheless gave the Cyprus V four out of five stars.

What’s next, heeled Tevas?

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