ARCHIVED - Alicante app detects price hikes and false sales ahead of Black Friday
ARCHIVED ARTICLE
A consumer analysis app developed in Alicante found 73% of products sold online increased in price ahead of Black Friday
A study carried out by AZbox, an app developed in Alicante that analyses the daily price of products sold online, has detected shocking price hikes and false sales ahead of Black Friday after scanning 6,300 items over the last 12 months.
According to the study, the cost of 73% of the products analysed have been bumped up in the run up to Black Friday (November 26) before being slashed on the big day.
This translates into an average 48% increase in the price of products, with the cost being cut by up to half on the day of the promotion.
"Based on the data obtained in our study, we can conclude that there are many companies that effectively take their pricing strategies beyond what is reasonable, in some cases trying to manipulate the perception of customers to encourage compulsive purchases," says Juan José Cejudo, a member of the AZBox team.
The research also showed that on the key days of 'Black Friday' the price of items is cheaper than on the days prior to the promotion, but without reaching the lowest price the product was on sale for months earlier.
The biggest price hikes have been seen amongst industrial machinery, DIY tools and kitchen items, with increases ranging from 58 to 330 euros.
On the flip side, actual price reductions in footwear, clothing, technology and mobile phones stand out, with savings ranging from 30 to 90 euros on average.
The AZbox team is confident the app will help consumers to make educated purchases and avoid scams and fraud through its updated prices in real time so that users can check possible increases both before and after Black Friday campaigns.
The app is basically an online price tracker and comparison tool that monitors the evolution of the price of items available on Amazon.
"It works very simply. The user identifies the Amazon products they would like to buy when they go down in price and from that moment on our system monitors the price every day. If we detect a price drop, the user is instantly notified of the potential savings so they can decide whether it is worth taking advantage of the opportunity.
"Sometimes, companies launch offers that are very limited in time or stock and only users who are more alert and quicker can take advantage of them. Our app helps the user to take advantage of this type of opportunity", added Cejudo.
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