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    Consumers & Retail Sales & Retail Credit Cards

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    1. A quick check of advertisement in the newspaper, on the internet or on TV will find any number of "sales". Sales may include "hot items" for special events or holidays or may include clearance items from the season just ended. Explain how discounts are used in retail stores to encourage consumer spending and describe a sale you recently read or heard about, letting us know whether it was effective in trying to get someone to purchase whatever was being offered for sale.

    2. Many department stores will offer discounts on "today's purchase" if the buyer will open a store credit card. Why do businesses offer consumer credit? Explain how this benefits the business and the purchaser.

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    Solution Preview

    1. Discounts are used in retail stores to encourage consumer spending by driving customers in for "special deals." Discounts give consumers a reason to buy, or an incentive to buy now. Whole days or seasons can be devoted to discounts (e.g., Black Friday, or Back to School shopping). Discounts give consumers a reason to shop, and an additional reason to buy. Recently I heard on the radio about a mattress sale ...

    Solution Summary

    This solution discusses why retailers offer discounts and the benefits of a store credit card.