Frugal Friday: Would You Pay to Look Edition
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Happy Friday everyone! Last week I shared my thoughts on the $175,000 bed that is being made by a British company targeting ultra wealthy individuals in the hopes they’ll see a need for a pricey bed in one of their five vacation homes and got a pretty good response from it. With that in mind I thought I would share about another puzzling article I read on Yahoo Finance this week. The article was in regards to the “showrooming” dilemma facing retailers today. I know that many retailers are dealing with this as more and more people go to buy things online through either Amazon or some other website. Showrooming was nearly the death of Best Buy last year and who knows whether or not they’ll be able to withstand the competition. They did change their price matching policy recently to try to remain competitive. I applaud their changing, though I wonder if it might be too little, too late. That is why the article this week caught my eye as worthy of discussion.
The situation comes to us from Australia where one brazen retailer has decided to charge a $5 “just looking” fee to anyone that wants to step into his establishment to look and peruse the store. He hopes the approach will counter the showrooming issue he has been dealing with. Working in advertising, I can understand that businesses are feeling the pressure and need to get creative to stay afloat. Unfortunately for many businesses they are facing times where the consumer has more power and more options to make their purchasing decision. Mrs. Frugal Rules always pokes me when we’re in a store and I pull out my phone to check a price. I know it may look a little tacky, but if I can buy something we need/want for a decent savings then I am going to do it almost every time. All that said, this retailer is facing some pushback from his unpopular decision and I completely understand. He promises to deduct the cost of the fee if you do make a purchase, but would that make it worth it to you to still go into his store? I know, for me, it would not make it worth it to go into his store unless I was seeking something only he sold. The retail business can be a cut throat sector, but that forces retailers to adapt and be willing to change. Someone from The Consumerist was quoted saying nearly the same thing in the article and I think they hit the nail on the head. By having a policy like this I fear the retailer is only going to annoy customers and risk losing even more because they were unwilling to adapt.
Ok, enough of my aimless thoughts. I did want to mention that I was able to pick a winner to the Frugal Rules six month blogiversary giveaway! The winner was Kayla Pacton and she chose the $100 Amazon gift card as her choice. Thanks again to everyone who participated! This has been a busier week than normal for me but I was still able to read some great blog posts. If you have the time this weekend I encourage you to check out some of the blog posts and stick around to read some of the blogs as they have some great content other than what I highlighted.
Blog Post of the Week
How to Define Success on the Internet on Frugal Portland
To be honest, this post is from last week but after reading it last Friday I had to share it. I love Kathleen’s sentiment as she shares about how easy it can be to compare ourselves to others in life and in the blogosphere. Being a numbers geek I find myself guilty of doing this all too often. Kathleen shares about the importance of finding the ‘why’ behind why you write. Like Kathleen, I write largely because I want to help people avoid the same stupid financial mistakes I’ve made in my life and hopefully have a little fun along the way. Even if you’re not a blogger, I encourage you to check out Kathleen’s post, you’ll be glad you did!
Other Blog Posts That Ruled
How to Raise Successful Children on Krant Cents
Family Finances: Somebody is Watching You on Canadian Budget Binder
The Benefits of Comparison Shopping on Money Smart Guides
I’m an 80’s Child Because… on Girl Meets Debt
Should I Invest or Pay Off Student Loans First? on Debt RoundUp
Nourish Your Mind on The Random Path
Odd Search Terms
Best ways to watch March Madness without being caught…Call in sick (I kid, I kid)
Holly Mckenzie works at shoppers drug mart…You don’t say
How to be accepted by wealthy people…Take up yachting!
Is Warren Buffett pulling out of the stock market…If he is then I think I will be following him!
Wal-Mart EZ tax refund advance…run VERY fast!
Will Bill Gates give me $20,000 to pay off my school bills…Sure, give him a call!
If I leave Starbucks, what happens to my 401k…They give it to you in coffee beans.
Would you pay a showrooming fee, or do you think this retailer has made a wise choice? Have a great weekend everyone!
Photo courtesy of: Ron Dauphin