NORFOLK, Va. — There's no doubt you have been driving past a retailer and the windows are covered with large signs reading "biggest sale of the year!" or "prices have never been hotter!"
While that's what the sign alleges, some consumer experts say that's likely not actually true.
"Even if the price tag says it's 30% or 40% off, that's usually not a legitimate sale," said Kevin Brasler.
Kevin Brasler with Consumers' Checkbook says his organization spent 33 weeks tracking sales at 25 major retailers and found that most discount claims were just an attempt to mislead people.
"They're called 'anchor prices' and they exist only so stores can present the illusion of offering you a good deal," Brasler said.
He said when you see a sale claiming 60% off, it feels like a promising deal, prompting consumers to not look anywhere else. Whereas if you compare prices, you likely could find it cheaper at another store.
So-called list prices are also used, and when you look at the fine print, Consumers' Checkbook found some companies "may not necessarily reflect the prevailing market price of a product."
With the July Fourth holiday upon us, discount signs are everywhere, so just make sure you shop around if you're looking for the best deal. In that vein, Brasler also said the good news is that local independent shops have pretty similar prices to the big box retailers.
