May 2013

Friday, May 03, 2013

macys-super-buyUnder the heading "Super Buy", a recent Macy's circular advertised a regularly priced $1500 necklace for $47. This too good to be true deal was a result of a typo in the copy. Customers rushed to the Macy's in Plano, Texas to buy the necklace before Macy's was able to catch the error. The actual sale price was supposed to be $479, a copy editor forgot the last digit.

As a retailer, the thing I find most interesting about this story is the correct sale price of $479. If the necklace's regular price is $1500, how can Macy's make a profit by selling it at 70% off? And can you imagine how bad the person who is paying the full price of $1500 is getting ripped off!

In my opinion, Macy's pricing is misleading and unethical. At Spiegel and Son we do not believe in marking up our jewelry 400% and then having a massive sale. We do not have a sale of the century every month. At Spiegel and Son you will get a fair and reasonable price 365 days a year. Because our showroom is modest and overhead low, you will find our prices to be lower than our competitors, while still getting the high quality jewelry you have come to expect. This has been our formula for over 60 years and will never change.