In some ways, the consumer quest for massive holiday deals and discounts has left business owners with no choice but to spiral into a deep discount abyss and engage in a Black Friday arms race. The constant question they face is akin to a ruckus game of limbo: how low can you go?
Many big retailers have circumvented the issue by offering “fake discounts.” They work backward with their suppliers to set starting prices that, after all the markdowns, will yield the profit margins they want – but still give consumers the impression of a blowout sale, according to The Wall Street Journal. The problem is that fake holiday discounts and deals could potentially constitute a deceptive business practice.
Here are three potentially deceptive Black Friday discount schemes that can make your business see legal red:
Though the temptation may be strong, small business owners should resist the urge to offer shady “fake” deals and discounts on Black Friday. To make sure your discount deal strategy is above-board, you may want to consult an experienced business attorney.
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Related Resources:
- Essential Advertising Rules for Your Businesses (FindLaw)
- Stay Legal, Don’t Make Ad Fine Print Too Small (FindLaw’s Free Enterprise)
- Fair Advertising Guide for Small Businesses (FindLaw’s Free Enterprise)
- How to Get into Trouble for ‘Unfair’ Advertising (FindLaw’s Free Enterprise)
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