Promotions come with inflation, but careless traders can get into serious trouble this way

By: Trademagazin Date: 2022. 10. 17. 10:21

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Persistently high inflation and rising prices make customers even more receptive to various promotions. However, in the changed market environment, traders must pay close attention to properly announcing discounts, as even a single consumer complaint can lead to official proceedings, EY points out.

It’s a big season for sales, but you have to be alert

In the period before the various coupon days, the autumn Black Friday and the Christmas holidays, many online and offline stores compete to see who can give a bigger discount on certain products. In the current inflationary environment, when purchase prices change almost from day to day, it is a serious task for traders to announce a discount and calculate a period for which they can maintain themselves even weeks from now without loss.

The complexity of the situation is only increased by the fact that, in order to provide consumers with more transparent information, the regulations regarding the indication of price discounts were changed from May 28 of this year. When announcing promotions – that is, when communicating with consumers – the sellers must indicate the lowest value applied in the preceding thirty-day period in addition to the new discounted price.