ALERT: One detail of Black Friday prices to watch out for amid rip-off warning

The Competition and Consumer Protection Commission (CCPC) has said it will be clamping down on one aspect of pricing during Black Friday sales in Ireland this year.

The annual marketing campaign which sees shops offering reduced prices for the period of time takes place officially on Friday, November 29, but online and in-store promotions are already in full swing.

New CCPC research has shown that younger shoppers are more vulnerable when it comes to spotting bad deals and spending more than they should on Black Friday.

One aspect the CCPC is watching in particular is the laws around 'prior pricing' which is the price a product must be for a period of time before shops can legally label a new price as a Black Friday deal.

Commenting, Grainne Griffin, Director of Communications at the CCPC, said: "There are very strong legal requirements on businesses when displaying discounts, they must be genuine and clearly show the consumer the prior price. References to ‘Recommended Retail Price’ or RRP cannot be used to mislead consumers into thinking that a product has been discounted.”

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Around 2 in 3 of all consumers reported being aware of the rules for the display of discount information. Under consumer law, retailers must provide the ‘prior price’ when displaying a price reduction. They must also base any discounts, such as an amount or a percentage off, on this prior price. The ‘prior price’ is the lowest price applied to the product at any time in the 30 days before the discount begins.

Grainne Griffin continued: “Consumers can’t shop around unless prices are clear, accurate and easy to compare. While we encourage all consumers to be mindful of sales prices, traders have a duty to ensure their prices are displayed clearly and reflect honest and genuine discounts. The CCPC will not allow businesses to mislead consumers into thinking that they are getting a better deal than they actually are.”

The research shows young people are most at risk. It found young people are more likely to shop in the sales, more likely to trust advertised discounts, and less likely to do research about prices which may make them vulnerable to fake discounts.

For more information read the CCPC Black Friday research 2024.